What is Business?
The Six Functions of Business are
HR, Operations, Strategy, Finance/ Accounting, Marketing & Information Management
A business model is how a company sells its products to customers and it’s plan for making a:
Profit
This government acts protects student data
Family Educational Rights and Privacy Act (FERPA)
A business owner might choose a sole proprietorship despite it unlimited liability to
Minimize overhead expenses
This government agency enforces food and drug laws
Food & Drug Administration (FDA)
This business function is a route or plan of action designed to achieve certain goals and objectives.
Strategy
This business model allows customers to buy products / services online only
E-commerce
When one company controls the supply of a good or service
Monopoly
This business file legally establishes itself as a corporation
Articles of Incorporation
The public sector are companies/ organizations that are owned by:
The United States Government
A specific procedure or action used to support strategy, in order to achieve goals and objectives, is called:
Tactic
A distributor buys products from this business model type and resells them either to wholesalers, retailers or the public
Manufacturer
What is Mr. Kayal's favorite soccer team?
FC Barcelona
This business structure the owners are called members
Limited Liability Corporation (LLC)
When a small number of companies control the supply of a good or service
Oligopoly
Materials used in manufacturing are called
raw materials
This business model makes money by commissions from their own sales and commissions from sales made by their recruited distributors
Multilevel Marketing
This feature of a business ownership, partners are not liable for other partner's actions
Limited Liability Partnership (LLP)
This type of partnership limits the liability of some partners to their investment in the business
Limited Partnership
The federal government does this to obtain money to pay for government programs and services
taxes / borrowing
What is the definition of business?
A for-profit or non-profit organization involved in commercial, industrial or professional commerce.
Pay-Per-Click (PPC), Pay-Per-Lead (PPL) and Pay-Per-Sale (PPS) are all examples of this type of business model
Affiliate Marketing
The Federal Government uses taxes and government spending levels to influence this policy
The business ownership creates a separate legal entity from its owners
Corporation
This action is associated with monetary policy
adjust interest rates