BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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10-49 persons employed.
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250 or more persons employed.
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50-249 persons employed.
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less than 10 persons employed.
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Detailed explanation-1: -SMEs are further subdivided into micro enterprises (fewer than 10 employees), small enterprises (10 to 49 employees), medium-sized enterprises (50 to 249 employees). Large enterprises employ 250 or more people.
Detailed explanation-2: -Micro-sized business: less than 10 employees. Small-sized business: 10-49 employees. Medium business: 50-249 employees. Large-sized business: more than 250 employees.
Detailed explanation-3: -What’s it: A large business is a business category with an above-average business size, has large operations, and high economies of scale. They hire a lot of labor and generate a lot of revenue. They may target national or even international markets.
Detailed explanation-4: -The main difference between enterprise and business is that an enterprise is a large-scale organization that engages in commercial activities, while a small business is an individual or small-scale organization that engages in commerce.