Econ Ch 6 Study material

Front

One way to deal with a problem caused by a price floor is to…

Back

decrease supply

Front

In a sole proprietorship…

Back

the owner doesn’t have to answer to
stockholders.

Front

A sole proprietorship is characterized by…

Back

limited size.

Front

An important advantage of a partnership is…

Back

greater resources for growth

Front

Which of the following is not a disadvantage of the corporation? Heavy taxes, Government restrictions, Heavy organizing expenses

Back

Unlimited liability

Front

All owners have limited liability. Options: Sole Proprietorship, Corporation, Partnership, Partnerships AND Corporations

Back

Corporation

Front

A legal entity created with permission from the state.

Back

Corporation

Front

They can enter into contracts on behalf of the company.

Back

General Partners

Front

A corporation will feature all of the following except…
officers, directors, partners, stockholders

Back

partners

Front

Which of the following is NOT an advantage of the corporation? Lack of restrictions, Indefinite life, Better possibilities for growth, Efficiency

Back

Lack of restrictions