Types of Business Organizations Quiz

What type of business focuses on providing services to travelers and tourists?

• Retail Business

• Hospitality and Tourism Business

• Online Business

• Manufacturing Business

Which type of business creates products from raw materials?

• Cooperative

• Nonprofit Organization

• Manufacturing Business

• Service Business

What is a key feature of a service business?

• Uses machinery to produce goods

• Operates 24/7

• Relies on skills and expertise

• Requires high startup costs

Which type of business sells products directly to consumers?

• Limited Liability Company

• Retail Business

• Franchise

• Partnership

What is a benefit of an online business?

• Limited customer base

• Higher overhead costs

• Global reach

• Requires physical storefront

What is the main focus of a nonprofit organization?

• Providing training

• Maximizing profits

• Selling products

• Serving community needs

What is a key feature of a franchise?

• Uses a proven business model

• Operates independently

• Owned by a single person

• Requires no training

What type of business structure protects personal assets?

• Cooperative

• Partnership

• Sole Proprietorship

• Limited Liability Company (LLC)