Quiz 2

A business organization which is owned and operated by a single person.

A business organization in which two or more persons as co-owners of unincorporated business.

A business organization formed to meet today’s changing work environment.

An organization designed to give service to clients without expecting monetary gains or financial benefits for their endeavours.

It is an association of two or more persons, each with unlimited liability, who are actively involved in the business.

It is an enterprise chartered by law, with most of the legal rights of a person, including the right to conduct a business, to own and sell, to borrow money, and to sue or be sued.

It accepts deposits from members and lends money to its members at a very reasonable interest rate.

It makes services readily available and at a lower price

It refers to the forces/factors outside the organization which may affect, either positively or negatively, the performance of the organization.

It refers to the forces/factors within the organization which may affect, either positively or negatively, the performance of the organization.

Inflation is an example of what external business environment?

Gender, age, educational level and income are examples of what external business environment?

Car manufacturing managers must give the go signal for the development of vehicles that are environmentally friendly instead of only being focused on the product’s speed, fuel economy and design. This is an example of what external business environment?

Filipino customers are now conscious about the importance of avoiding fatty foods, so many food companies now make sure that the products they offer are cholesterol-free or are in low cholesterol. What type of external business environment is presented in the situation?

Strengths and weaknesses refer to the presence or absence of internal resources in a given enterprise