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QR Challenge: All About That "Business"

Question	Answer
1. Which type of business is owned and managed by a single individual?

2. Provide three examples of businesses that are considered a franchise.

3. What is one advantage of a sole proprietor?

4. What is a disadvantage of a partnership?

5. What are two advantages of opening a franchise?

6. What type of business organization can raise capital by selling stocks and is owned by stock holders?

7. If you were a franchisee over a new Starbucks and had an idea for a different drink, would you be able to create this beverage? Explain your answer.

8. One disadvantage to being a sole proprietor is that you have unlimited liability and are fully responsible for everything – good and bad. If your business is doing poorly, name two creative thing you can do to increase your capitol.

9. Bob and Tom are partners in a computer repair business. Bob deals with customers and selling merchandise. Tom is the technician and is in charge of the business operations. Bob is trying to sell a specific computer part to a customer but finds that he is out of the product. This causes their business to lose money and a customer. Who is held liable for this mistake and why?

10. Between a local bookstore owned by a sole proprietor and a major corporation, such as Barnes & Noble, which business would be closely monitored by the government? Why?