Questions and Answers
What did 'global' mean at the end of the nineteenth century?
The whole world
What is the definition of globalization according to the text?
Wide range of relationships between people in many areas from different parts of the world
What are the factors of increasing globalization mentioned in the text?
Increase and expansion of technology
What does social and cultural globalization represent according to the text?
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What does economic globalization aim to achieve according to the text?
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An entrepreneur is a person who forms and operates a business.
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Most businesses started by entrepreneurs are large organizations.
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The legal form in which a business operates does not affect the ease and cost of formation.
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A limited liability company provides financial responsibility for only the amount of money the owners have put into the business.
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A sole proprietorship allows for unlimited liabilities for the business owners.
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Which legal form of business organization provides financial responsibility for only the amount of money the owners have put into the business?
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What is the major factor influencing the decision on the legal form of business organization?
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Which form of business organization allows a person to start a business by him- or herself or cofound a business with others?
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Which legal form of business organization allows for unlimited liabilities for the business owners?
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What type of businesses are most commonly started by entrepreneurs, according to the text?
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