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BUS 211 Week 1 Individual Assignment Business Models, Systems and Organization
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Consider a local business whose services you frequently use. What are the main components of this company’s business modelWrite a 400- to 500-word response in which you do the following:
• Describe the three components of the business system that comprises the local business you selected. Use Figure 1.2 on p. 11 of Introduction to Business as a reference.
• Identify the form of business organization that the business currently uses: joint-stock company, limited liability, partnership, or sole proprietorship.
• Explain the differences between your business’s form of organization and the other three forms.
BUS 211 Week 1 Quiz
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1) Which of the following best describes a joint-stock company structure2) What are the four productive resources that make a business possible3) What law shows that there is a direct relationship between the price of a product and the amount that is supplied in the market4) If a company were to have total sales revenue of $50 and a total operating cost of $37, what is the total profit5) This is the point at which the supply of the product just meets the demand for it
6) Which of the following businesses is the best example of when to set up a limited liability company in order to control financial risk of stockholder(s)7) What is defined as the absolute monetary difference between sales revenues and operating costs8) How does specialization assist a business in becoming more productive9) Which of the following is the best advantage of joint-stock company10) Which of the following best describes a partnership11) Which of the following is the best example of a business partnership12) What is the best way to raise funding for a joint-stock company13) Which term refers to the total money or assets of business14) Which term…

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