Econ Flashcard
Flashcard
•
Social Studies
•
10th Grade
•
Practice Problem
•
Hard
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1.
FLASHCARD QUESTION
Front
Aria, a risk-taker, is needed for factors of production and starting a business
Back
entrepeneurship
2.
FLASHCARD QUESTION
Front
a business owned and managed by two or more individuals as co-owners
Back
Partnership
3.
FLASHCARD QUESTION
Front
Benjamin recently bought shares in a tech company. What is Benjamin's role in the company?
Back
shareholder/stockeholder
4.
FLASHCARD QUESTION
Front
corporation
Back
a business owned by shareholders and managed by directors and executives
5.
FLASHCARD QUESTION
Front
general partners
Back
a business partner who has decision making authority
6.
FLASHCARD QUESTION
Front
What are the disadvantages of a partnership?
- Unlimited liability
- Possible disagreement among partners (you are responsible for actions of your partner)
- Shared profits
- Limited life
Back
Disadvantages of the Partnership
7.
FLASHCARD QUESTION
Front
Which of the following is a disadvantage of a corporation? Limited life, Shared profits, Unlimited liability
Back
Double taxation
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