Motive and Purpose
What are the two types of human activities?
Economic and non-economic
What function of business is involved in selling the product to customers?
Sales
What type of business is 7/11?
Franchise
What part of business are ethos, pathos, and logos used for?
Advertising/marketing
What is a stock?
A share of ownership in a company
What is the main goal of business?
To earn a profit.
What function of business would be located in a factory or warehouse?
Manufacturing
What is the smallest type of business a person can own?
Sole proprietorship
What language do the terms ethos, pathos, and logos come from?
Greek
What is the purpose of buying stocks?
People buy stocks in the hope to make money.
What is business risk?
The possibility of inadequate profits.
What function of business is the CEO a part of?
Administration
What is an advantage of owning a corporation over a sole proprietorship?
Liability protection
Which one uses an expert or credible figure in advertising?
Ethos
Why would a company sell stocks to the public?
To make money to expand their company, develop new product, or acquire new companies.
What is the first thing to consider when starting a business?
The line of business.
What function of business would help a customer with a faulty product?
Customer service
True or False: a partnership always splits the profit 50/50
False
Which one uses emotion?
Pathos
What is the largest stock exchange in the world?
The New York Stock Exchange
Name one unexpected cause of business risk.
A natural disaster (hurricane, tornado, etc.)
What function of business handles taxes?
Finance
What type of business is open to public trading in the stock market?
Corporation
Which one uses facts/logistics?
Logos
What was the first stock exchange ever created? In what year was it created?
Amsterdam, in 1602.