Business Concepts Unit 2

22  When a corporation loses money, the personal assets of the owner(s) are protected.

5. The changing of raw materials into processed goods is done by

8.  The relationship between people/departments on different hierarchical levels on a chart

2.  Which type of business focuses on providing a service rather than making a profit?

21.  President, Vice President, and CEO are examples of:

15.  What year was MTV started?

1.  Which of the following is not a part of a business plan?

18. Which of the following is not an example of a franchise?

6.  Which of the following is not one of the managerial functions?

20. Which state of a product cycle is grinding wheat into flour?

13. A business that operates on the internet

Shares of ownership in a corporation is called

23 A decentralized organization gives authority to different managers to run their departments

10. Person who directs and coordinates activities of workers and deals with problems

11.  What did Darrow invent?

19.  Which stage of a product cycle is a tree being cut down by a lumber jack?

17. A business owned by many people and sells stock to raise money

16. A description of potential customers, strategies used to obtain them and advertising tactic

7.  The relationship between different departments on the same hierarchical level:

12.  What did Greatbatch invent?

24 Shares of ownership in a corporation are called franchises

9.  Leaders who treat others the way you want to be treated

14. Starting a business is a way individuals can demonstrate

3. Businesses that make finished products out of processed goods, such as GM are: