Business Ownership
If you and one other person want to start a business and own it on your own, What type of business Ownership would you use?
Partnership
a business that gathers raw goods
Producer
Which business function is the art of Money Management?
Finance
the process of creating, expanding, manufacturing, or improving goods and services is what function?
Production
The colored part of the human eye is called the ____
The Iris
What is a Franchise?
a franchisor, who establishes the brand's trademark or trade name and a business system, and a franchisee, who pays a royalty and often an initial fee for the right to do business under the franchisor's name and system
What is a service business?
Perform tasks rather than provide goods.
Which business function has to do with book keeping and making the financial statements?
Accounting
Advertising would be done by which function?
Marketing
What holiday is celebrated on the first Monday in September?
Labor Day
What is a main advantage and disadvantage of a Non- Profit business?
Advantage: Help a good cause, No Tax
Disadvantage: No Profit
A business that moves goods from one business to another
Intermediary
Which type of business function has to do with the 4 P's
Marketing
What is the major advantage of a Worker's Co-Op?
Incentive to work
What are California's state colors?
Blue and Gold
Name a company that is a Corporation, and a company that is a franchise? (Two Companies)
Example: Apple (Corp) McDonald's (Franchise)
What is a Processor
a business that changes raw materials into more finished products
The function that is the buying and reselling of goods and services that have already been produced is called?
Procurement
Name a Business that started as one type of Business Ownership and changed to a different one
Ex. Apple, Ben & Jerry's, McDonald's, etc.
What is the world's Deadliest Land Mammal?
Hippopotamus
The highest percentage of businesses in the USA use what type of Business Ownership?
Sole Proprietorship
What is a Manufacturer and give me an example of a product they might produce
a business that makes finished products out of processed goods
Car, CDs, Computers
the process of achieving company goals by planning, organizing, directing, controlling, and evaluating the effective use of resources is what function?
Management
Name 2 Advantages of a Corporation over the other types of Business Ownership
Limited Liability
Ability to Sell Stock
No matter what happens to owner the business continues
Room for Growth
What was the first toy to be advertised on television?
Mr. Potato Head