Ch 18: PLACE Business Education: Types of Business Ownership

About This Chapter

Study for your PLACE Business Education exam with the lessons in this chapter. Entertaining videos and short quizzes can help you examine types of business ownership, from the pros and cons of sole proprietorship to the challenges associated with franchise ownership.

PLACE Business Education: Types of Business Ownership - Chapter Summary

Peruse lessons on the various types of business ownership to prepare for PLACE Business Education test questions. Lessons in this chapter can walk you through the benefits and drawbacks of the following business structures:

  • Sole proprietorships
  • Types of partnerships
  • Limited liability companies
  • Corporations
  • Mergers and acquisitions
  • Franchises
  • Cooperatives

This chapter's video lessons and quizzes are completely self paced and can be accessed in whichever order you choose. Use them to quickly review business ownership topics you're already familiar with and spend a little extra time examining areas you're unsure of.

PLACE Business Education: Types of Business Ownership Chapter Objectives

If you're an aspiring business education teacher in Colorado, you'll need to pass the PLACE Business Education exam before you can qualify for licensure. Lessons in this chapter are designed to prepare you for business management and communication multiple-choice questions that address the risks and rewards of starting and operating a business, whether it be a sole proprietorship, franchise or partnership.

7 Lessons in Chapter 18: PLACE Business Education: Types of Business Ownership
Test your knowledge with a 30-question chapter practice test
What is a Sole Proprietorship? - Definition, Advantages, Disadvantages & Examples

1. What is a Sole Proprietorship? - Definition, Advantages, Disadvantages & Examples

Many businesses start out as sole proprietorships. In this lesson, you'll learn what a sole proprietorship is and its advantages and disadvantages. You'll also have a chance to reinforce your knowledge with a short quiz.

The Basics of Partnerships: Types & Examples

2. The Basics of Partnerships: Types & Examples

Partnerships are a common way to organize a business in the United States. In this lesson, you'll learn about different types of business partnerships and their respective advantages and disadvantages. A short quiz follows the lesson.

The Basics of LLCs: Limited Liability Companies

3. The Basics of LLCs: Limited Liability Companies

The limited liability company is one of the most popular business organizational forms for small and medium-sized businesses. In this lesson, you'll learn about the key characteristics of a limited liability company. A short quiz follows.

Corporations: Types, Advantages, Disadvantages & Examples

4. Corporations: Types, Advantages, Disadvantages & Examples

Corporations are a popular form of business organization for large and small businesses. In this lesson, you'll learn about the advantages and disadvantages of a corporation. You'll also learn about S-corporations and C-corporations.

Corporate Expansion: Mergers and Acquisitions

5. Corporate Expansion: Mergers and Acquisitions

Corporations can grow in two different ways: through expansion of their current business or through mergers and acquisitions. In this lesson, you'll learn about mergers and acquisitions. A short quiz follows.

Franchises: Opportunities and Challenges

6. Franchises: Opportunities and Challenges

Franchises offer a way for a person to start a proven business. In this lesson, you'll learn about franchises, including their advantages and disadvantages. You'll also learn about diversity and global challenges in franchising.

The Role of Cooperatives in Business

7. The Role of Cooperatives in Business

A cooperative is a type of business organization used for a variety of economic and social purposes. In this lesson, you'll learn about cooperatives, their characteristics and the role they serve in the economy. A short quiz follows.

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.
Not Taken

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Other Chapters

Other chapters within the PLACE Business Education: Practice & Study Guide course

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