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Unit 2 Trivia – Small Business

Unit 2 Trivia – Small Business. Collect into groups of 2-3 students and create a team name related to Small Business. . Instructions. Each team will receive several small pieces of paper; write your name on each paper There will be 3 rounds of questions First round is 4 questions.

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Unit 2 Trivia – Small Business

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  1. Unit 2 Trivia – Small Business Collect into groups of 2-3 students and create a team name related to Small Business.

  2. Instructions • Each team will receive several small pieces of paper; write your name on each paper • There will be 3 rounds of questions • First round is 4 questions. • Each question can be worth 1, 3, 5, or 7 pts • You cannot use a point value more than once • Write your answer & point value to each question on a paper and hand it in • Second round is 4 questions • Each question can be worth 2, 4, 6 or 8 pts • You cannot use a point value more than once • Write your answer & point value to each question on a paper and hand it in • Third round is one question and you BET YOUR POINTS

  3. Round 1 You have to assign each of your answers a point value of 1, 3, 5 or 7 points

  4. Question 1: Supply Chain This type of industry changes raw materials into more finished products. It usually is the second step in the supply chain. An example would be turning raw sugar cane into pure sugar

  5. Answer • Processor

  6. Question 2 This type of business ownership only has 1 business owner.

  7. Answer • Sole Proprietor

  8. Question 3: Supply Chain This area of the supply chain is when businesses make finished products out of processed goods.

  9. Answer • Manufacturers

  10. Question 4: Business Knowledge This is the value that businesses add to the cost of an item to make profit.

  11. Answer • Mark-Up

  12. Round 2 You have to assign each of your answers a point value of 2, 4, 6 or 8

  13. Question 5: Business Organization The point where company’s sales equal the company’s expenses

  14. Answer • Break-Even Point

  15. Question 6: Supply Chain The storeMacy’s, is know as what type of business?

  16. Answer • Retail Store

  17. Question 7: Business Knowledge What type of business operates to provide a service and not focused on profit?

  18. Answer • Non-Profit Organization

  19. Question 8: Business Information: This is a company which purchases items from a manufacture and sells them to a retailer

  20. Answer: • Wholesaler/Distributor

  21. Final Round!! Each team should know their total score. On the final question, you must bet the amount of points you want to wager.

  22. Final Question: Please wager your points that you want to bet. These 2 types of business ownerships have limited liability which only has the business assets responsible and not personal assets (two answers)

  23. Answer • LLC and Corporation (Inc.)

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