Xavier and Yvette Are Discussing Starting a Business That Will

question 130

Multiple Choice

Xavier and Yvette are discussing starting a business that will take little start-up capital but,nonetheless,meets the needs of customers.They have reviewed a variety of economic and business publications and found one business area that seems to fit their capital requirements.Businesses in this area employ 86 percent of the nation's workforce.They now just need to determine which specific type of business in this area they will open.What type of business will they open?

• A) They will open a service business.
• B) They will open a manufacturing business because these businesses have large workforces.
• C) They will open a wholesale business supplying goods to retailers.
• D) They will open a government business.

Understand the importance and basics of ISO 9000 standards in the global business context.

Identify the key aspects and benefits of quality control in business operations.

Recognize the principles and benefits of continuous improvement strategies in organizations.

Understand the concept of internal and external customers and their significance in business operations.

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Definitions:

Poverty Rate

The percentage of the population that lives below the poverty line, indicating the level of economic deprivation in a community.

Lowest Quintile

Refers to the bottom 20% of the population according to income or wealth distribution.

Incomes

Incomes represent the money received, typically on a regular basis, for work or through investments.

Poverty

The state of being extremely poor, where individuals or communities lack the financial resources to meet basic living needs.