Question

1. what is a sole proprietorship?

a) a business owned by shareholders
b) a business with limited liability
c) a business owned by one person
d) a non - profit organization

1. what does “scalability” mean in a business context?

a) ability to control employees
b) ability to operate in multiple cities
c) ability to grow revenue without a large increase in costs
d) ability to change company name easily

1. what is a target market?

a) competitors in the same industry
b) the group of people a business aims to sell to
c) the location of the business
d) investors in a startup

1. what is a business incubator?

a) a device to store business plans
b) a co - working space for large corporations

Explanation:

• For question 7: A sole proprietorship is a business structure where a single individual owns and operates the business.
• For question 8: Scalability in business refers to the ability of a business to grow its revenue without a proportionate large - scale increase in costs.
• For question 9: A target market is the specific group of people a business aims to sell its products or services to.
• For question 10: A business incubator is a supportive environment for startups, often providing resources like office space, mentorship etc.

Answer:

1. C. A business owned by one person
2. C. Ability to grow revenue without a large increase in costs
3. B. The group of people a business aims to sell to
4. (No correct option provided in the given choices. A business incubator is a facility that nurtures startups, providing various forms of support such as workspace, mentorship, and access to resources.)