Business Types and Classifications Quiz
What are the three classifications of businesses?
Local, national, and global
Small, medium, and large
Items in this lesson
What are the three classifications of businesses?
Local, national, and global
Small, medium, and large
What is a micro business?
Employs more than ten people
Employs fewer than five people
Which factor does NOT affect business classification?
Product colour
Market share
What defines a local business?
Serves its surrounding area
Operates in multiple countries
What is a characteristic of a national business?
Operates in just one country
Operates globally with multiple branches
What is a global business?
Operates in multiple countries
Only sells locally
How is a micro business often described?
A large corporation
A SOHO business
What is a characteristic of large businesses?
Higher market share
Fewer than five employees
What does ownership refer to in business classification?
Who makes business decisions
The colour of the products
What is the maximum number of employees for a micro business?
Fewer than ten
Fewer than five
Which type of business has a restricted geographical spread?
Local business
Global business
What is a characteristic of multinational corporations?
Partially or wholly owned abroad
Only operate in their home country
Which business type serves a wide market?
Micro business
Global business
What is NOT a classification of business size?
Small, medium, large
Corporate and freelance
Who typically makes decisions in a micro business?
A board of directors
The owner
