Types of Businesses
Apple is an example of this type of business
What is a corporation?
Material that comes directly from the earth, untreated.
What is Raw Materials?
A Blanket term used to describe a system that helps a business organize and analyze their data.
What is an information systems?
A job is farming is in this sector.
What is the Primary Sector?
This is one reason a business could stop making money.
What is an economic recession?
In this business profits are shared among 2-3 people.
What is a partnership?
Treated raw materials that are ready to be sold.
What are finished materials?
This is a reason a business would use an information system.
What is reduce costs, generate revenues, increase productivity and carry out smooth interactions.
Teachers work in this sector
What is the Quaternary sector.
These skills are needed in a Business
What are communication skills, leadership, problem-solving skills, adaptability, organizational skills and time management?
In this type of Business owners are called members and are not personally liable to business debts.
What is an LLC?
Ceo, managers, down to workers is an example of this term.
What is a Chain of Command?
One of the 4 stages of the information processing cycle.
What is input, processing, storage, or output.
If someone works at the Ford Automotive production plant their job is in this sector.
What is the Secondary Sector?
Trade impacts a country by...
What is...increase efficiency through specialization in production, expanding market size, driving innovation and lowering prices for consumers
An example of this type of Business is a lemonade stand.
What is a Sole Proprietorship?
A tax placed on imported goods that serves as a trade barrier. It makes foreign products more expensive.
What is a Tariff?
This is the largest ocean in the world.
What is the Pacific Ocean?
Joe works at an insurance company, he works in this economic sector.
What is the Tertiary Sector?
In this business members share profits and decision-making.
What is a cooperative?