Forms of Business

Which of the following is a type of business ownership?

• Sole Proprietorship

• Partnership

• Corporation

• All of the above

Match the following forms of business with their characteristics:

• Partnership

• Owned by one person.

• Sole Proprietorship

• Separate legal entity.

• Corporation

• Owned by two or more people.

A (a)   is a business owned by shareholders and is a separate legal entity.

• Sole Proprietorship

• Partnership

• Corporation

What is 'price skimming'?

• A pricing strategy involving high initial prices

• A method of reducing production costs

• A technique for increasing market share

• A way to improve customer satisfaction.

Match the following terms with their definitions:

• Collective Bargaining

• Assigning responsibility to others

• Delegation

• The process of negotiating work conditions

• Intrapreneurship

• Acting like an entrepreneur within a large organization.

Which of the following is a type of business structure?

• Sole trader

• Partnership

• Private limited company

• All of the above

Match the following business concepts with their descriptions:

• Businesses that operate primarily on the internet.

• Social enterprise

• A business model that allows individuals to operate a branch of a larger company

• Online businesses

• A business that aims to address social issues

• Franchising

Growth to a (a)   involves stock market flotation.

• Sole trader

• Partnership

• PLC

• Private limited company

Match the following professionals with their services:

• Solicitor

• Animal care

• Dentist

• Dental care

• Vet

• Legal advice

Which of the following is NOT a type of business form mentioned in the document?

• Sole trader

• Partnership

• Corporation

• Public limited company (PLC)