Front

In a proprietorship, the profits are kept by -

Back

one person

Front

A person who takes a risk to produce goods and services in search of profit -

Back

entrepreneur

Front

What kind of business is BEST described by these statements?
I am the only owner of my business. 
I take all the risks of doing business. 
I keep all the profits. 

Back

proprietorship

Front

In which type of organization does one person take all the risks? Options: corporation, partnership, monopoly, proprietorship

Back

proprietorship

Front

A form of business organization that is authorized to act as a legal entity regardless of the number of owners.

Back

corporation

Front

A form of business organization with two or more owners who share the risks and the profits -

Back

partnership

Front

Which is NOT a basic type of business ownership? Options: proprietorship, partnership, corporation, retail

Back

retail

Front

Julie buys used clothes at garage sales and then auctions them off herself off the internet. Which type of business does she have?

Back

proprietorship

Front

A form of business organization with two or more owners who share the risks and the profits -

Back

partnership

Front

In 2000, the Heinz Corporation began selling purple ketchup.  Sales were low and within a few years Heinz stopped selling it.  Which characteristic of our economy was demonstrated in this example?

Back

Consumer Sovereignty