Economics Final.

Economics Final.

Assessment

Flashcard

Social Studies

12th Grade

Hard

Created by

Wayground Content

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24 questions

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1.

FLASHCARD QUESTION

Front

Shirking could be described as

Back

doing less than an equal share of tasks

2.

FLASHCARD QUESTION

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

3.

FLASHCARD QUESTION

Front

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

Back

corporation

4.

FLASHCARD QUESTION

Front

The owners of a corporation are

Back

its stockholders

5.

FLASHCARD QUESTION

Front

Economists believe that the major goal of each firm is to

Back

maximize profit

6.

FLASHCARD QUESTION

Front

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

Back

rent

7.

FLASHCARD QUESTION

Front

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

Back

medium of exchange

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