Potential Drawbacks of Small Business Ownership Include

question 4

Multiple Choice

Potential drawbacks of small business ownership include:

• A)a relatively low guaranteed income.
• B)a significantly freer personal schedule but less personal income and assets with which to enjoy the more relaxed schedule.
• C)a high likelihood of a lower quality of life while starting and establishing the small business.
• D)relatively limited potential for further personal development.

Understand the differences between various vertical marketing systems.

Identify and describe the three degrees of distribution density.

Choose appropriate distribution strategies for different products and services.

Recognize the importance and implications of choosing marketing channels and intermediaries.

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Definitions:

Oppressive Child Labor

employment practices that are detrimental to the physical and mental development of children, often violating laws and regulations designed to protect them.

Fair Labor Standards Act

U.S. legislation that establishes minimum wage, overtime pay eligibility, and child labor standards.

Department of Labor

A federal agency responsible for ensuring safe working conditions, fair pay, and employment opportunities, as well as enforcing labor laws.

Family and Medical Leave Act

A U.S. law that allows eligible employees to take unpaid, job-protected leave for specified family and medical reasons, with continuation of group health insurance coverage.