Types of Businesses

Sole proprietorship, partnerships, and corporations are the three types of WHAT?

• Schools
• Companies
• Businesses
• Corporations

A business partnership has ___________ who share the risks and the profits.

• One owner
• No more than three owners
• Two or more owners
• Five or more owners

Banks, credit unions, and savings and loans, and any firm that receives deposits and makes loans are all types of what?

• Financial communication commissions
• Private financial institutions
• Public financial institutions
• Deposit insurance companies

In which of the following would one person be responsible for all of the risks but also receive all of the profits?

• Corporation
• Propreitership
• Partnership
• Dual owner business

What do we call a person who is willing to take the risks of starting a business in order to make a profit?

• Proprieter
• Partner
• Entrepreneur
• Incorporater

If my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a _____ economy. 

• Traditional 
• Market 
• Command 
• Mixed

I am a farmer in Africa, and have always traded for my goods.  I have a _____ economy. 

• Traditional 
• Command 
• Market
• Mixed

There are four types of economic systems.  Most economies in the world are _____ economic systems. 

• Traditional 
• Command 
• Market 
• Mixed

In this type of economy, the government places control on businesses, but the individual decides what to make. 

• Mixed
• Market
• Command 
• Traditional

Interstate highways, the postal service, and national defense are all examples of WHAT?

• Private goods
• Antitrust legislation
• Public goods
• Government agencies