Business 001 - Introduction to Business » Fall 2020 » Business Basics Quiz

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Question #1
A "medium-sized" business may be one that has annual revenues from:
A.   $50,000 to $100,000
B.   $5,000,000 to $50,000,000
C.   $5,000 to $10,000
D.   $500,000 to $1,000,000
Question #2
He is considered the father of modern capitalism.
A.   Carl Marx
B.   John Quincy Adams
C.   Adam Smith
D.   John Adams
Question #3
Hernando DeSoto postulates that citizens in poorer countries may have more barriers in business because of a lack of support by their legal systems.
A.   FALSE
B.   TRUE
Question #4
The smallest business organization, a business that may have monthly revenue from $1,000 to $10,000 per month, may operate out of home or a single vehicle, and may perform all transactions in cash, can be described as a(n):
A.   Large Business
B.   Micro Business
C.   Small Business
D.   Multinational Business
Question #5
Businesses must work to keep their companies from going toward disorganization because of a natural phenomenon called:
A.   Enigmatics
B.   Entrepreneurialism
C.   Entropy
D.   Empathy

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