Ch 66: Operation of Business Firms

About This Chapter

Look no further than this informative and helpful chapter on the operation of business firms if you are looking for a resource to help you review these topics. Our lessons and quizzes are accessible 24 hours a day, so you can studying for an exam whenever it fits in your schedule.

Operation of Business Firms - Chapter Summary

In this chapter, we've included a series of lessons on topics related to the operation of business firms. You'll watch short videos about the types of business organizations, decision-making models and distribution systems. After you've finished this chapter, you should be able to:

  • Outline the advantages and disadvantages of different types of business organizations
  • Detail the factors affecting business cycles
  • Explain the development and types of decision-making models
  • Discuss how to choose information sources for business reports
  • Provide a definition and explanation for resource-allocators
  • Describe the processes of production and improving productivity
  • Identify the definition of product marketing
  • Define distributions system and its types

These lessons are easy-to-understand and cover these topics in a bite-sized and approachable format. If you need any help along the way, submit your questions through the Dashboard for an expert to answer.

8 Lessons in Chapter 66: Operation of Business Firms
Test your knowledge with a 30-question chapter practice test
Types of Business Organizations: Advantages & Disadvantages

1. Types of Business Organizations: Advantages & Disadvantages

In this lesson, you will learn about the three main types of business organizations: sole proprietorship, partnership, and corporation. We'll also discuss the advantages and disadvantages of each.

Factors Affecting Business Cycles

2. Factors Affecting Business Cycles

In this lesson we'll learn about the factors that affect the business cycle. The business cycle can be used to help predict future business and is very important in the forecasting model.

Decision Making Models: Definition, Development & Types

3. Decision Making Models: Definition, Development & Types

In this lesson, you'll gain an understanding of when decisions need to be made and discover how to use different decision-making models and types. Both rational and intuitive decision-making models are discussed.

Choosing Information Sources for Business Reports

4. Choosing Information Sources for Business Reports

A business report serves the purpose of summarizing and analyzing a situation to come up with recommendations. The information contained in a business report is generally factual and employs the use of secondary sources to validate recommendations, as you'll learn about in this lesson.

Resource-Allocator: Definition & Explanation

5. Resource-Allocator: Definition & Explanation

Learn about the resource allocator managerial role and explore examples of how managers work in this role in everyday situations. Then, test your understanding with a short quiz.

The Processes of Production and Improving Productivity

6. The Processes of Production and Improving Productivity

In this lesson, learn about the different processes businesses use in the production of goods and services in our economy. You'll also learn about the concept of productivity and ways to improve it.

What is Product Marketing?

7. What is Product Marketing?

The success of a product is highly dependent on the quality and type of marketing that is done to get the attention of potential buyers. Use the tips in this lesson to make your product marketing more effective.

Distribution System: Definition & Types

8. Distribution System: Definition & Types

In this lesson about distribution systems we will grasp how the collaboration of various procedures is linked together to aid supply of products and services to meet demand. An ensuing quiz will test your knowledge.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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