CE.12c-d

Front

Advantages of this business type are that the owner is their own boss and gets to keep all the profits. Options: Partnership, Sole Proprietorship, Corporation, Franchise

Back

Sole Proprietorship

Front

What is a major advantage of a business that is a partnership rather than a sole proprietorship? Options: The responsibility for the business is shared, The business is easy to set up, The partners are not responsible for business debts, The business is easy to sell

Back

The responsibility for the business is shared

Front

A form of business organization that is authorized by law to act as a legal entity regardless of the number of owners. Owners share the profits. Owner liability is limited to the amount of their investment.

Back

Corporation

Front

What is a business owned and operated by two or more people? Options: Sole Proprietorship, Partnership, Corporation

Back

Partnership

Front

Which of the following is NOT a business organization? Sole Proprietorship, Corporation, Perfect Competition, Partnership

Back

Perfect Competition

Front

Fresh Cutz and Diva Curls is a small, locally owned beauty salon in Hampton, owned by Joe Dirt. This represents what type of business?

Back

sole proprietorship

Front

What three entities make up the circular flow model?

Back

businesses, households, and the government

Front

What do businesses provide for consumers according to the circular flow model?

Back

goods and services

Front

When WalMart pays income taxes, what two parts of the circular flow model are involved?

Back

businesses and government

Front

Businesses provide government with...

Back

taxes