Which of the Following Is True About Small Businesses

question 37

Multiple Choice

Which of the following is true about small businesses?

• A) The manager usually owns the business.
• B) The area of operations is not necessarily local, although the market is primarily local.
• C) Capital is supplied and ownership is held by a large number of individuals.
• D) In the European Union (EU), more than 70 percent of the workforce is employed in firms with 10 or fewer employees.

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Definitions:

Social Impacts

The effects an organization's actions have on the well-being of its social environment and community.

Environmental Impacts

The effect of human activities and natural events on the natural environment, including changes to air, water, and land.

Sustainability

The practice of maintaining processes or systems in a way that does not deplete natural resources, ensuring long-term ecological balance.

Competitive Advantage

The attributes or conditions that allow a company to produce goods or services better or more cheaply than its competitors.