Economic Institutions

A creative ________, he was continually dreaming up new projects.

• trader

• merchant

• entreprenuer

• seller

Tags

CCSS.RI.11-12.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RL.8.4

CCSS.RL.9-10.4

Philanthropy refers to

• Giving money, time, & services to make other's lives better

• The study of money management principles

• The principle of compounding your money for growth

• Donating to a good cause in order to receive the tax savings

Which is a way to be philanthropic?

• Give time

• Give money

• Give in-kind services

• Use your voice

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

• corporation
• partnership
• sole proprietorship

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

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

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

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

Which of the following is a disadvantage of sole proprietorships:

• Limited capital
• Control 
• Privacy
• Tax liability