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

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

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

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

Processor

This type of business ownership only has 1 business owner.

Sole Proprietor

This area of the supply chain is when businesses make finished products out of processed goods.

Manufacturers

This is the value that businesses add to the cost of an item to make profit.

Mark-Up

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

The point where company’s sales equal the company’s expenses

Break-Even Point

The store Macy’s, is know as what type of business?

Retail Store

What type of business operates to provide a service and not focused on profit?

Non-Profit Organization

This is a company which purchases items from a manufacture and sells them to a retailer

Wholesaler/Distributor

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

These 2 types of business ownerships have limited liability which only has the business assets responsible and not personal assets (two answers)

LLC and Corporation (Inc.)