1.00 Understand principles of business.
1.01 Understand the purpose and the functions of business.
1.02 Compare the main types of business organization: sole proprietorship, partnership, corporation, and franchise.
1.03 Classify businesses as profit-making or non-profit-making; and service, product or combination.
2.00 Understand the concept of entrepreneurship.
2.01 Recall personal characteristics and skills needed for a successful entrepreneur.
2.02 Understand entrepreneurship and the entrepreneurial process.
2.03 Understand the procedures and requirements for starting a business.