SOPHIA PATHWAYS Introduction to Business unit 1 milestone 1

Discipline: Business Studies

Type of Paper: Question-Answer

Academic Level: Undergrad. (yrs 1-2)

Paper Format: APA

Pages: 1 Words: 1000


Warren and Liza were drafting the partnership agreement for their new home design and construction company.

Select the item below that Warren and Liza should include in their partnership agreement.


In modern times, companies need to be socially responsible toward various stakeholders. 

When a company ensures that its products will not cause personal injury when used, the company is demonstrating particular consideration to which stakeholder?


Which of the following is an example of a trade deficit? 


Anita borrowed money from a bank to help her start her small business.

Which factor of production below does the loan represent?


In which type of business below does the owner have the highest liability risk?


Which of the following would be included in the financial plan section of a business plan?


Which of the following best describes corporate governance?


Max wanted to open a pizza and sub restaurant. He compared purchasing a well-known franchise to opening his own restaurant as a small business.

Which of the following would be a disadvantage to the franchise option?


Which of the following should guide ethical behavior in a business?


Which of the following does the World Bank use to categorize countries?


Jill owned a small business in California. The state passed new legislation that required all small businesses to use new measures to protect the personal, financial and health information of both customers and employees.

Jill's business will be impacted by which external business environment below?


Richard worked at a software company, and he learned many youth in the local community did not have access to technology to help them succeed in school. Richard told his supervisor he thought this might be a good way to give back to the community.

Which step to creating a social responsibility program below does this illustrate?


A large cable company is the only provider of cable TV and Internet for a small community. As a result, consumers in the community who want either of these services must purchase from this company.

In which of the following economic markets is the cable company operating? 


A maker of soaps and lotions noticed a blind person having difficulty comparing products while shopping in one of her stores. She launched an initiative to include Braille on the packaging of all products her company produced.

Which social responsibility stance below did the business owner demonstrate?


Which of the following controls production in a planned economy?


The US government decided to enforce a trade restriction to no longer trade any goods with Mexico.

Which of the following does this scenario describe?


Which of the following describes an entrepreneur rather than a small business owner?


Kyle owned a small business that sold and repaired several styles of bicycles. Last month, Kyle had sales of $15,000 and the costs of operating his business were $12,300. 

Which of the following is true about Kyle's business?


A business owner analyzes which supplies and equipment will be used on a regular basis and buys them in bulk. 

Which element of business success is reflected by this scenario?