Critical thinking questions, Cheat Sheet of Sociology

Download Critical thinking questions and more Cheat Sheet Sociology in PDF only on Docsity! 1. Goods are tangible items sold to customers, and services are tasks that are done for the benefit of the recipients. Examples of goods are cars, clothes, and shoes. Examples of services are dentists, plumbers, and mechanics. 2. Sole proprietorship is the ownership of one person in a business. Partnerships is the most simply structure for two or more people to own a business together. Limited Liability company (LLC) protects you from personal liability and lets you take advantage of benefits from the corporation and partnership. Corporation structures consist of multiple departments that all contribute to the company’s mission. A cooperative is a business that is owned by and operated to benefit the ones that use services. I think that partnership is best to get a dog groomer business started because you are going to need multiple people and it is best to get it started with the people you will need then to get it started and then struggle to find people to help you later. 3. Businesses benefit society by how it operates. It builds and maintains social capital by its core operations such as goods and services it provides. Also, activities support increasing global and supply chains. 4. The general concept of a business is the direction and form of the operations. Three characteristics of business are social activity, profit motive, and customer satisfaction. Social activity is to solve a social problem or need and then generate social impact. Profit motive is someone's want to undertake activities that will slow down net economic gain. Customer satisfaction is the measurement of determining how happy customers are with the business. 5. When starting a business, you can start it in a location where the business best fits and have products that are most needed. Also, before starting a business you should decide on a structure that would support the business in the best way and benefit all the people in the business.