Types Of Businesses Organizations

Question 1

Types of businesses organizations

Answer 1

• Sole trader,
• partnership,
• corporation,
• Franchise,
• trade association

Question 2

1. Startup cost

2. Businesses plan

Answer 2

Sole trader

Question 3

One time only expenses only when starting a new business. (registration, city license, etc.)

Answer 3

Start up cost

Question 4

Document describing necessary steps an opening in operating a business

Answer 4

Business plan

Question 5

Summary of the business to introduce to investors

Answer 5

Cover letter

Question 6

Appointed business representatives that meet quarterly to make decisions about the firm

Answer 6

Board of Directors

Question 7

Person who sells businesnesss for a living

Answer 7

Business broker

Question 8

Profit of a firm given to shareholders

Answer 8

Dividen

Question 9

Set up a businesses as a corporation requires a lawyer

Answer 9

Incorporate

Question 10

One unit of ownership in the firm

Answer 10

Shares of stock

Question 11

yOne company controls the entire

Answer 11

Monopol

Question 12

Original owner of the product or service who sells the rights to operate/run the business to another person

Answer 12

Franchisor

Question 13

Local individual who buys a right to operate as a franchise from the franchisor

Answer 13

Franchisee

Question 14

Fee the franchisee must pay to the franchiseor

Answer 14

Initial franchise fee

Question 15

Payments made by franchise eat to the franchise or

Answer 15

Royal fee

Question 16

Making her producing a good

Answer 16

Manufacturing

Question 17

yA level of output received from each worker

Answer 17

Productivity

Question 18

When Ron materials are not available to me in the wants and needs of the consumer demands

Answer 18

Scarcity

Question 19

A business that sell goods and services to another business

Answer 19

Whole saw

Question 20

businesses that sells to a consumer directly

Answer 20

Retail

Question 21

The amount of a good or service the Producer is willing to produce a particular price

Answer 21

Supply

Question 22

An individual need or desire for a product or service at a given price

Answer 22

Demand

Question 23

Graph label

Answer 23

X and Y axis, supply and demand

Question 24

where supply and demand graph meats, point where enough goods are sold to cover all the cost, any product made after break even is profit.

Answer 24

Equilibrium price and quantity a.k.a. break even pointPoint

Question 25

Private ownership of resources by individuals not government

Answer 25

Capitalism

Question 26

overnment determines what how and for whom products and services are produced for

Answer 26

Communist a gay command economyG

Question 27

Economic system in which people have the right to make a choice of what products to buy whether to own private property or whether to start a business or compete with other firms

Answer 27

Market economy a.k.a. free enterprise system

Question 28

Consensus

Answer 28

Agreement in a group