Wyatt CE 12 a&b

How many basic ways are there that businesses organize to earn profits?

• One
• Two
• Three
• Four

What is a form of business organization with one owner who takes all the risks and all the profits?

• Proprietorship
• Partnership
• Corporation
• Business

What is a form of business organization with two or more owners who share the risks and the profits?

• Proprietorship
• Partnership
• Corporation
• Business

What is a form of business organization that is authorized by law to act as a legal entity regardless of the number of owners. Owners share the profits.

• Proprietorship
• Partnership
• Corporation
• Business

What is the BEST definition of an entrepreneur?

• person who purchases raw materials from businesses and sells them to the government
• person who improves on an invention
• person who invents a brand new product
• person who takes a risk to produce and sell goods and services in search of profit

Which is NOT a part of the economic flow of the United States economy?

• Resources
• Strength
• Goods and services
• Money

What can people and businesses do to increase consumption later?

• Save and invest
• Spend and retire
• Buy and sell
• Parkour!!

According to the notes, who owns the resources used in production?

• Individuals
• Businesses
• The government

According to the notes, who uses tax revenue to provide goods and services?

• Individuals
• Businesses
• The government

According to the notes, who makes products and sells them?

• Individuals
• Businesses
• The government