Blundell - Civics and Economics Review Green (SOL 12 & 13)

What type of business organization has one owner who takes all the risks and all the profits?

• partnership
• corporation
• proprietorship
• dictatorship

What type of business organization is authorized by law to act as a legal person regardless of the number of owners?

• partnership
• corporation
• proprietorship
• government

What type of business organization has two or more owners who share risks and profits?

• proprietorship
• partnership
• corporation
• friendship

The most common resource that individuals (households) sell to businesses is __________.

• land (natural)
• entrepreneurship
• capital
• human (labor)

Private institutions receive _________ from savers.

• interest
• loans
• deposits
• trade

Private institutions make _________ to individuals and businesses.

• deposits
• loans
• taxes
• savings

Private financial institutions act as intermediaries between _____ and _____.

• bankers and lenders
• borrowers and lenders 
• savers and borrowers
• borrowers and households

Factors of production (land, labor, capital, entrepreneur) are examples of _________. 

• resources
• stocks
• opportunity cost
• income

______ contributes to the global flow of information, capital, goods, and services. 

• A newspaper
• A consumer
• Technology
• Opportunity cost 

The United States and Virginia pursue international trade to ________.

• make friends
• help workers in other countries
• provide equal opportunities for U.S. workers
• increase wealth