Ownership
What is a business owned and operated by one individual?
Sole proprietorship
What type of organization generates revenue?
For-profit organization
What business buys products from wholesalers to sell to consumers?
Retailer
What is a share of ownership in a corporation called?
Stock
What business structure is owned by two or more people?
Partnership
Governmental organizations, schools, and the military belong to which sector?
Public sector
Who purchases large quantities of products to sell in smaller quantities?
Wholesaler
What does DBA stand for?
Doing Business As
What business structure exists on paper but can act on its own behalf?
Corporation
What type of organization exists to serve the public through free services?
Nonprofit organization
Who uses supplies from producers to make products for businesses?
Manufacturer
What does NAICS stand for?
North American Industry Classification System
Name the three basic forms of business ownership.
Sole proprietorship, partnership, and corporation
What is the general term for businesses that help move goods and services from producers to customers?
Intermediaries
What business combines benefits of a corporation with those of a proprietorship and partnerships?
Limited Liability Company (LLC)
A business sells products directly to consumers. Is it automatically a wholesaler or retailer?
Neither automatically. A retailer sells goods to consumers, while a wholesaler buys goods in bulk and resells them.