BUS 211 Week 1 Individual Assignment Business Models, Systems and Organization
Consider a local business whose services you frequently use. What are the main components of this company's business model?
Write a 400- to 500-word response in which you do the following:
• Describe the three components of the business system that comprises the local business you selected. Use Figure 1.2 on p. 11 of Introduction to Business as a reference.
• Identify the form of business organization that the business currently uses: joint-stock company, limited liability, partnership, or sole proprietorship.
• Explain the differences between your business's form of organization and the other three forms.
BUS 211 Week 1 Quiz
1) Which of the following best describes a joint-stock company structure?
2) What are the four productive resources that make a business possible?
3) What law shows that there is a direct relationship between the price of a product and the amount that is supplied in the market?
4) If a company were to have total sales revenue of $50 and a total operating cost of $37, what is the total profit?
5) This is the point at which the supply of the product just meets the demand for it
6) Which of the following businesses is the best example of when to set up a limited liability company in order to control financial risk of stockholder(s)?
7) What is defined as the absolute monetary difference between sales revenues and operating costs?
8) How does specialization assist a business in becoming more productive?
9) Which of the following is the best advantage of joint-stock company?
10) Which of the following best describes a partnership?
11) Which of the following is the best example of a business partnership?
12) What is the best way to raise funding for a joint-stock company?
13) Which term refers to the total money or assets of business?
14) Which term...