CE 12 Unit Checkpoint 12cef

Match

Match the following US economy terms:

• Mixed Economy

• Free Enterprise

• Consumer Soverignty

• People & Businesses

Public (gov't)& private economic system

Business operates without gov't

Goods made based on consumer purchases

Private sector of mixed economy

• Public (gov't)& private economic system

• Business operates without gov't

• Goods made based on consumer purchases

• Private sector of mixed economy

Labelling

Label the business according to its structure.

Drag labels to their correct position on the image

Corporation

Proprietorship

Partnership

Multiple Select

Select the 2 characteristics of entrepreneurs-

• Share a risk

• Looking to make a profit

• One owner

• Offer new products

Match

Match the roles of private financial institutions-

• Make loans

• Pay interest to encourage saving

• Provide financial capital to start businesses

• Receive deposits

Borrow and lending money

Money grows over time

Give money to businesses to grow

Put money in the bank

• Borrow and lending money

• Money grows over time

• Give money to businesses to grow

• Put money in the bank

Multiple Choice

Bayport Credit Union and Old Point National Bank are examples of-

• Government agencies

• Major economic systems

• Public goods and services

• Private financial institutions

Dropdown

Technology ________ the cost of production.

Select answer

Multiple Choice

12c) Which type of business is authorized to act as a legal entity, regardless of the number of owners?

• Corporation

• Proprietorship

• Partnership

• Entrepreneurship

Multiple Choice

12e) How do private financial institutions encourage saving and investing?

• 1. By receiving deposits

• 1. By paying interest on deposits

• 1. By making loans

• 1. By providing start-up capital

Multiple Select

12f) What does specializing in goods promote in the global economy? Choose 2.

• 1. Decline

• 1. Efficiency

• 1. Growth

• Lower costs