Micoreconomics Unit Test Review Questions

Micoreconomics Unit Test Review Questions

12th Grade

55 Qs

quiz-placeholder

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Micoreconomics Unit Test Review Questions

Micoreconomics Unit Test Review Questions

Assessment

Quiz

others

12th Grade

Practice Problem

Hard

Created by

David McLeod

Used 7+ times

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55 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which type of business organization is the owner personally responsible for all financial obligations?

partnership

sole proprietorship

corporation

limited liability company

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Two tire companies control 75% of the tire market in the country. What type market structure?

oligopoly

monopolistic competition

perfect competition

monopoly

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is MOST likely a disadvantage to a corporation?

ability to sell stock

limited liability of stock holders

double taxation

unlimited liability

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Corporate stockholders are not responsible for the debts of corporation. This is MOST likely

partnerships

limited liability

ability to raise capital

establishment of price ceilings

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Joe and Bob want to start a business together where they will share both the responsibilities and the profits.

partnership

sole proprietorship

entrepreneurship

corporation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Jim and Rhonda have money to invest. They are worried about liability. Which business form?

proprietorship

monopoly

corporation

partnership

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Coke and Pepsi. Which market structure would this represent?

monopoly

pure competition

monopolistic competition

oligopoly

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