Business Organizations (Economics)

Business Organizations (Economics)

9th - 12th Grade

20 Qs

quiz-placeholder

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Business Organizations (Economics)

Business Organizations (Economics)

Assessment

Quiz

Other

9th - 12th Grade

Medium

Created by

Michael Self

Used 1K+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Sara’s Hair Palace is a small, locally owned beauty salon in Sterling. This represents what type of business?
corporation
partnership
sole proprietorship

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Susie is starting her own lemonade store. What economic term would best describe Susie and what does that term mean? 
Consumer – a person who uses or consumes goods
 Partnership –  partner in the lemonade stand
Entrepreneur-  - person who takes a risk to start a new company

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Dan has $5,000. He wants to invest his money in the type of business that has the least amount of liability. In which type of business should he invest?
corporation
partnership
proprietorship

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

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

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

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

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

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

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Decreased government spending may result in _____ taxes. 
higher
more
lower

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