BUSINESS ADMINISTRATION EXAM 2026
COMPLETE STUDY GUIDE PRACTICE
QUESTIONS AND REVIEW NOTES
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales Included
, Environmental forces to consider natural and physical;
cultural;
Technological;
social;
Political and legal;
Economic;
What's the economy? The economy is the sum of all economic activities within a given region. It's the
study of how a society uses its resouces to produce godds and services,
Market forces demand and supply
Entrepreneurial spirit The positive, forward-thinking desire to create profitable, sustainable business
enterprises. the continuous passion that pushes the business forward.
Types of Entrepreneurs classic, serial, first mover.
social entrepreneurship the pursuit of social goals while creating a profitable business
stages of an entrepreneurial firm Birth
breakthrough
maturity
small business an independently owned business that usually has the owner as its manager.
a small business has to: create jobs; introduce new products; meet the needs of
larger organizations; help the economy; take risks; provide specialized goods and
services;
Why small businesses fail Lack of experience, lack of commitment, lack of strategy, lack of expertise;
growing too fast and insufficient financing;
Partnership a business owned by two or more people.
three types of partnership: General, Limited, Limited liability
Corporation A business that is owned by many investors.
S CORPORATION
LIMITES LIABILITY CORPORATION
BENEFIT CORPORATION
COMPLETE STUDY GUIDE PRACTICE
QUESTIONS AND REVIEW NOTES
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales Included
, Environmental forces to consider natural and physical;
cultural;
Technological;
social;
Political and legal;
Economic;
What's the economy? The economy is the sum of all economic activities within a given region. It's the
study of how a society uses its resouces to produce godds and services,
Market forces demand and supply
Entrepreneurial spirit The positive, forward-thinking desire to create profitable, sustainable business
enterprises. the continuous passion that pushes the business forward.
Types of Entrepreneurs classic, serial, first mover.
social entrepreneurship the pursuit of social goals while creating a profitable business
stages of an entrepreneurial firm Birth
breakthrough
maturity
small business an independently owned business that usually has the owner as its manager.
a small business has to: create jobs; introduce new products; meet the needs of
larger organizations; help the economy; take risks; provide specialized goods and
services;
Why small businesses fail Lack of experience, lack of commitment, lack of strategy, lack of expertise;
growing too fast and insufficient financing;
Partnership a business owned by two or more people.
three types of partnership: General, Limited, Limited liability
Corporation A business that is owned by many investors.
S CORPORATION
LIMITES LIABILITY CORPORATION
BENEFIT CORPORATION
