Business Cycle and Economic Concepts

Front

Match the characteristic 'High Inflation' to the correct phase of the Business Cycle: Expansion, Peak, Contraction, Trough.

Back

Peak

Front

During the 'Contraction' phase of the economy, Rohan noticed that many businesses often ________ workers.

Back

Layoff

Front

Fill in the blank: When Maya noticed 'rising inflation' in her country, it was typically seen during the ________ phase of the economic cycle.

Back

Expansion

Front

Benjamin noticed that his company's 'Declining Sales' are typically seen during the ________ phase of the business cycle.

Back

Contraction

Front

Anika is considering starting her own bakery business. Which of the following is an advantage of her choosing a sole proprietorship? Limited liability, Full control by the owner, Shared decision making, Double taxation

Back

Full control by the owner

Front

Harper and Henry are considering starting a business together as a general partnership. What is a potential disadvantage they should be aware of?

Back

Unlimited liability

Front

Rohan and William have started a bakery as a general partnership. In this business arrangement, they have ________.

Back

Unlimited liability

Front

Elijah wants to start a small business on his own. Which business structure is easiest for him to establish? Options: Corporation, General partnership, Sole proprietorship, Limited partnership

Back

Sole proprietorship

Front

Mia is considering starting her own bakery as a sole proprietorship. What is a disadvantage she might face?

Back

Unlimited liability

Front

Ava is considering starting a business and is exploring different business structures. She learns that one disadvantage of a C-Corporation is ____.

Back

Double taxation