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Questions and Answers
What is a micro business?
What is a micro business?
- A business that primarily deals with macroeconomics
- A business that employs fewer than 10 people (correct)
- A business that generates over $1 million in revenue annually
- A business that operates on a global scale
What is a common characteristic of micro businesses?
What is a common characteristic of micro businesses?
- Limited access to capital and funding (correct)
- Large-scale manufacturing capabilities
- Extensive bureaucratic processes
- Highly diversified product range
How do micro businesses typically contribute to the economy?
How do micro businesses typically contribute to the economy?
- By monopolizing the market
- By creating employment opportunities (correct)
- By engaging in aggressive price wars
- By influencing international trade policies
