Which title usually belongs to a company's top executive?
AnswerCEO
The chief executive officer leads the company; the CFO runs finance.
Business · Facts & stats
Firm facts & stats
7 fact-checked facts about firms, companies and how businesses are organized, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
A business owned by one person, with no separate legal entity, is a what?
AnswerSole proprietorship
A sole proprietorship is the simplest form: one owner, no separate entity.
Going deeper
What does market share measure?
AnswerA firm's portion of total sales in its market
Market share is a company's sales as a percentage of total market sales.
In a general partnership, what do general partners typically have?
AnswerPersonal liability for business debts
General partners share management and are personally liable for the business's debts.
What is a boutique firm?
AnswerA small firm that specializes in a niche
Boutique firms stay small and focus on specialized services.
Expert level
Which economist wrote the 1937 paper 'The Nature of the Firm'?
AnswerRonald Coase
Coase explained why firms exist by pointing to the costs of using markets.
What is a holding company?
AnswerA company that owns controlling stakes in other companies
A holding company exists mainly to own and control subsidiaries.
Know these cold?Today's round is five questions like these, 20 seconds each. Your streak and level follow you to every arena.Play today's round