Small Business in the American Economy

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question 1 of 3

In the United States, how is the size of a business defined?

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1. What is the typical way a small business is funded?

2. What is the best explanation of a microenterprise?

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About This Quiz & Worksheet

What are the characteristics of small business, and why are they so important? Take this quiz to check your understanding of small businesses.

Quiz & Worksheet Goals

Students who take this quiz and worksheet will be expected to answer questions on the following:

  • Definition of small business and microenterprise
  • How small businesses are funded
  • Factors that differentiate small business from big business
  • Reasons small businesses thrive and fail

Skills Practiced

Students who use this quiz/worksheet are practicing these skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on small businesses
  • Defining key concepts - ensure that you can accurately define main phrases, such as small business and microenterprise
  • Information recall - access the knowledge you've gained regarding factors of successful and unsuccessful businesses
  • Knowledge application - use your knowledge to answer questions about the differences between small and large businesses

Additional Learning

For more information on small businesses, check out the accompanying lesson Small Business in the American Economy. The lesson meets the following objectives:

  • Define terms like small business and microenterprise
  • Describe the factors that determine whether or not a business is considered small
  • Learn how small businesses impact the economy
  • Identify the characteristics of a small business
  • Determine why and how small businesses fail
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