Question

_____ is defined as the collection of private, commercially oriented organizations, ranging in size from one-family proprietorships to corporate giants.
a. Business
b. Society
c. Management

Answer 1

Answer: a. Business

Explanation: A business is a commerical organisation or economic system, created with the intention of exchanging goods or services, for financial means. A business can vary from one operation to many establishments across the same or different industries.

A society is an organisation formed with the intention of achieving a particular activity or objective. Unlike a business, a society is formed by a group of people, who aim to achieve a benevolent task. This is usually for a charitable reason. Thus a society isn't started to generate financial gain, and so this answer does not apply.

Management are the people who are in charge of running the organisation. They control the people who work for the organsation and they (along with the shareholders of the business), decide how the resources should be utilized. Management refers to the people within the organisation, and not the physical business itself, and so this answer does not apply.