GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A large business/enterprise would have ____
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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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Explanation:
Detailed explanation-1: -Small-sized business: 10-49 employees. Medium business: 50-249 employees. Large-sized business: more than 250 employees.
Detailed explanation-2: -The general cutoff for “large business” is having at least $7 million in annual revenue and 500 employees. However, there are some exceptions that are mostly industry-dependent. For example, even if a manufacturing company has 1, 500 employees, it’s still a small business.
Detailed explanation-3: -The federal government generally defines a small business as one with fewer than 500 employees. Companies that fit the definition employ roughly half of the private-sector workforce.
There is 1 question to complete.