SOL Review CE 12

Private financial institutions (banks, credit unions, etc.) receive _________ from savers and make _____________ for borrowers.

• interest; deposits

• loans; deposits

• deposits; loans

• trade; loans

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

Individuals sell __________ to businesses and in return individuals earn an __________.

• profit, income
• resources, products
• resources, income
• profit, individuals

Money taken by the government from households or businesses is defined as....

• Interest Rate

• Money

• Currency

• Tax revenue

Individuals buy __________ from businesses.

• goods and services

• profit

• resources

• income

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 the advantage of two or more people providing capital and sharing responsibility? 

• nonprofit
• proprietorship
• partnership
• corporation

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

• partnership
• corporation
• proprietorship
• dictatorship