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Economics Quiz 2

Authored by Justin Maye

Social Studies

12th Grade

Economics Quiz 2
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A sole proprietorship can be best described as:

Having a legal charter for operation from the government

A sole owner has full legal responsibility

The public are owners from stock sales


Dividends must be announced quarterly for shareholders

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A partnership can best be defined as:

A business started by an entrepreneur

A collaborative business owned by two or more entrepreneurs

A business that is regulated by a board of directors

A business that has offers stock options

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a benefit of a franchise?

Low start up costs

Creativity and individuality of business vision

Start off with “winning formula”

Can sell stock to increase financial capital

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a characteristic of a corporation?

Ease of start up

Multiple owners with limited liability

Start off with “winning formula”

A sole owner has full legal responsibility

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unions were organized to

Help management control their workers

Help management in the termination process

Fight for workers rights, working conditions, and benefits

All of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is collective bargaining?

Management always determines the pay and benefits of the workers

Management right to hire workers who qualify for the position

Business model where two people own and operate the business

Workers right to negotiate with management for pay and benefits

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Walmart works with local businesses to help them thrive.

True

False

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