CE.11-12d

This type of business is owned by one person.

• Partnership
• Sole Proprietorship
• Corporation
• Franchise

This type of business is owned by many people called stockholders.

• Sole Proprietorship
• Partnership
• Corporation
• Franchise

This type of business is owned by two or more people.

• Sole Proprietorship
• Partnership
• Corporation
• Franchise

Floral shops, bookstores and farms are examples of.....

• Sole Proprietorships
• Partnerships
• Corporations
• Franchises

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 is the process of buying and using goods and services?

• Goods
• Production
• Distribution
• Consumption

All of the following are considered types of resources EXCEPT ______________.

• human
• books
• capital
• natural

Jimmy wants to buy a car.  What do you call the amount of money he will have to pay for the car?

• Demand
• Price
• Incentive
• Supply

Scarcity refers to _____________,

• the inability to satisfy all wants at the same time
• what is given up when a choice is made
• things used to change economic behavior
• the factors of production

If supply is low and demand is high, the price of an item will be ____________.

• stay the same
• high
• none of the above
• low