Economics Final.

Front

Shirking could be described as

Back

doing less than an equal share of tasks

Front

The advantage of a sole proprietorship include: ease of formation, total ownership of profit, total control of business decisions.

Back

all of the above

Front

A business that is legally distinct from its owners and considered an entity in its own right is

Back

corporation

Front

The owners of a corporation are

Back

its stockholders

Front

Economists believe that the major goal of each firm is to

Back

maximize profit

Front

Which of the following is a fixed cost? rent, labor, electricity, ingredients used for production

Back

rent

Front

When you write a check to pay for clothes at the local mall, you are using money as a

Back

medium of exchange

Front

Money

Back

is widely excepted as payment

Front

At the top of a dollar bill you will see the words

Back

Federal Reserve Note

Front

The agency responsible for determining the money supply and supervising banks is the

Back

Federal Reserve