Ch.4 Presentation PBMF

Multiple Choice

Which of the following is NOT a general type of business in the private sector?

• Producer

• Intermediary

• Service business

• Government organization

Fill in the Blank

Extractors take ___ resources from the land.

Multiple Select

Which of the following are categories of customers?

• Consumer market

• Business market

• Government and institutions

• All of the above

Multiple Choice

Which market includes national, state, and local governmental offices and agencies?

• Consumer market

• Business market

• Government market

• Institutional market

Fill in the Blank

A proprietorship is owned and operated by ___ person.

Multiple Choice

Which of the following is NOT an advantage of partnerships?

• Easy to start

• Combined financial resources

• Unlimited liability

• Simple tax structure

Multiple Choice

Which form of business ownership offers limited liability and easy transfer of ownership?

• Proprietorship

• Partnership

• Corporation

• Cooperative

Multiple Choice

What is one key difference between businesses in the private sector and those in the public sector?

• Private sector businesses are owned by individuals or companies, while public sector businesses are owned by the government.

• Private sector businesses do not aim to make a profit, while public sector businesses do.

• Private sector businesses provide only public goods, while public sector businesses provide only private goods.

• Private sector businesses are always larger than public sector businesses.