Basic Business
Basic Business 2
Business Terms
Types of Business
Hodge Podge
100
Maximizing profits for its owners
What is the main purpose of a business.
100
Transfer of authority
What is delegation
100
A person with a legitimate interest in a business.
What is a stakeholder.
100
No legal distinction between the business and the individual.
What is a sole proprietorship.
100
A frozen investment
What is a disadvantage of a partnership.
200
Profit
What is revenue minus expenses.
200
Discovering what people want and need, along with how they think and behave.
What is market research.
200
A person who owns a share in the business.
What is a stockholder.
200
It is difficult to find an investor.
What is a disadvantage of a sole proprietorship.
200
This type of company does not pay federal income taxes.
What is an S Corporation.
300
Dividing up a task by expert
What is specialization.
300
A system where parties engage in exchange.
What is a market.
300
A periodic payment to investors.
What is a dividend.
300
100%
What is the amount of profits an owner of a sole proprietorship keeps.
300
A blend of a partnership and a corporate structure.
What is an LLC.
400
Dividing up workers by skills and tasks
What is functional departmentalization.
400
Increases with a higher demand.
What is the price.
400
Two key elements for addressing market needs.
What is supply and demand.
400
Partners, along with general partners
What is a limited partnership
400
Marketing Department Human Resources Department Accounting Department
What are segments in a corporate structure.
500
A product of effective organization.
What is continuity
500
Decreases with a lower price.
What is demand.
500
An economist who is known for his theories on government intervention in businesses.
What/Who is Milton Friedman
500
Profits filed on the taxes of both individuals.
What is a partnership/general partnership.
500
Extends beyond the lifetimes of its shareholders.
What is a corporation.
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