A business owned by an individual or a small group is referred to as a(n):
A) corporate chain.
B) conglomerate.
C) concern.
D) independent small business.

Question

Quizplus · Accepted Answer

An independent small business is owned by either an individual or a small group of people, making it a suitable choice for the given question. Option A, corporate chain, does not fit the description as it implies a business with multiple locations under one brand name, while option B, conglomerate, refers to a business with diverse operations in different industries. Option C, concern, is also incorrect as it is not a common term used to describe a small business.

A Business Owned by an Individual or a Small Group