Basic Business Stuff
Organizational Structure
Business Ownership
Business Cycle
Logos
100
These are things people must have in order to survive.
What is a need?
100
The people who head up a company that make big-picture decisions and set goals for the whole organization.
What is top management?
100
A partnership has to have at least _____ owners.
What is two?
100
The business cycle is split up into ______ stages.
What is four?
100
What is Pepsi?
200
Child care is an example of this.
What is a service?
200
These employees carry out the daily tasks of the business and follow the instructions of supervisors.
Who are operative employees?
200
This type of business ownership typically has stockholders that own the business (which are legally separated from the company).
What is a corporation?
200
In this stage, businesses get more sales, people spend money, and jobs are created.
What is growth?
200
What is Spotify?
300
These are things people desire, but do not need in order for survival.
What is a want?
300
These managers report to top management and oversee supervisors while helping implement company policies.
Who are middle managers?
300
This is the simplest type of business ownership, owned by just one person.
What is a sole proprietorship?
300
This is the stage of the business cycle where the economy is at its strongest point.
What is the peak?
300
What is Walmart?
400
A pair of shoes is an example of this.
What is a good?
400
These employees are in charge of a small group of workers and make sure daily tasks get done correctly.
What are supervisors?
400
McDonald's, Subway and Raising Canes are an example of this type of business ownership.
What is a franchise?
400
This stage of the business cycle occurs when the economy slows down, businesses produce less, and unemployment rises.
What is a recession?
400
What is Puma?
500
This term describes the entire system of moving a product from the raw materials stage, to manufacturing, to distribution, and finally to the customer.
What is the supply chain?
500
When communication and authority flow from top management down through middle managers and supervisors to operative employees, this system is being followed.
What is chain of command?
500
A _______ is a group of people elected to govern corporations.
What is a board?
500
This phase of the business cycle marks the lowest point in economic activity.
What is the trough?
500
What is Pizza Hut?