A cost, or expense, that changes with the number of units of a good produced is a(n)...
Ch. 7 Business Organizations Test

Quiz
•
Social Studies
•
12th Grade
•
Medium

Ronnie Jonse
Used 9+ times
FREE Resource
33 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A9n) ________ is a contract by which a firm (usually a corporation) lets a person or group use its name and sell its goods in exchange for payments.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business that is owned and operated by one person is a...
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business that is owned and operated by two or more individuals is a...
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A legal entity that can conduct business in its own name in the same way an individual does is a(n)...
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The legal responsibility of a sole proprietor or partners to pay any money owed by the business is which of the following?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If additional units of a scarce resource are added to another resource in fixed supply, eventually the additional output will decrease. This is known as...
diminishing marginal returns
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