Business Essentials (11th Edition)
11th Edition
ISBN: 9780134149240
Author: EBERT
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 3, Problem 3.6QA
Summary Introduction
To determine: The type of new business that Person X would like to open.
Introduction:
A business is an economic system whether the goods or services are exchanged for money. Production, buying of raw materials and selling of finished goods are the works related to the business. Business is the thing which improves the people’s standard of living.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
advantages and disadvantages of starting a business?
What is the biggest mistake when starting up a new business and why?
If you are dealing with an existing business, how did your company get to the point where it is today?
Chapter 3 Solutions
Business Essentials (11th Edition)
Ch. 3 - Prob. 3.1QRCh. 3 - Prob. 3.2QRCh. 3 - Prob. 3.3QRCh. 3 - Prob. 3.4QRCh. 3 - Prob. 3.5QACh. 3 - Prob. 3.6QACh. 3 - Prob. 3.7QACh. 3 - Prob. 3.8QACh. 3 - Prob. 3.9AECh. 3 - Prob. 3.10AE
Ch. 3 - Prob. 3.11ACh. 3 - Prob. 3.12ACh. 3 - Prob. 3.13ACh. 3 - Prob. 3.14ACh. 3 - Prob. 3.15ACh. 3 - Prob. 3.16TECh. 3 - Prob. 3.17TECh. 3 - Prob. 3.18TECh. 3 - Prob. 3.19EECh. 3 - Prob. 3.20EECh. 3 - Prob. 3.21EECh. 3 - Prob. 3.22CCh. 3 - Prob. 3.23CCh. 3 - Prob. 3.24CCh. 3 - Prob. 3.25CCh. 3 - Prob. 3.26CCh. 3 - Prob. 3.27CCh. 3 - Prob. 3.28CCh. 3 - Prob. 3.29CCh. 3 - Prob. 3.30C
Knowledge Booster
Similar questions
- What differentiates an entrepreneur from a small-business owner?arrow_forwardIf someone starts a small business and never needs to hire employees, can they be called an entrepreneur?arrow_forwardWould you prefer to start and organize an entirely new business than buy an existing firm? Discussarrow_forward
- 1. If someone buys a business but hires professional managers to run it so they don’t have to be involved in the operations, are they an entrepreneur? 2. Is someone an entrepreneur if they buy into a franchise so they can follow a well-established formula for running the operation? 3. Is someone an entrepreneur because of what they do or because of how they think?arrow_forwardHow to Start a Business?arrow_forwardOne of the first steps for starting your own business is to decide what type of business you want to start. Take some time to think about this decision. Before proceeding, answer the following questions:• Why did you choose this type of business?• Why do you think this business will be successful?• Would you enjoy owning and operating this type of business?arrow_forward
- Could writing a conventional business plan every cause more harm than good? Explain your answer?arrow_forwardIf you were to start a business, which ownership form would you choose? What factors might affect your choice?arrow_forwardIf you are going to form a new business what form of business you will select and why?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you