Business studies are one of the most taught disciplines in the universities and this is because most people have the aim to become entrepreneurs these days other than hired workers. This therefore increases the need to understand some things about a business. Just how much do you know about some common business terms and their meaning? Take up this quiz to find out!
True
False
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True
False
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Key business elements
A business canvas
A business model
A business outline
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Is an organization that does charitable work, has no shareholders, may have paid staff but mainly relies on donations, grants and volunteers. Donations to them are tax deductible.
Is a business, not a charity. There are no shareholders but members receive proceeds in relation to their investment. The goal is not to make money, however they do not except donations. In some cases all proceeds after expenses go to charity.
An organization engaged in the trade of goods, services, or both to consumers.
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Manufacturing Industries
Resource Industries
Service Industries and Consumer Products
Technologies
Agriculture Industries
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Franchise
Non-profit
Sole trader
Co-operative
Not-for-profit
Public Limited Company
Private Limited Company
Partnerships
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