Econ - Types of businesses

What is a Sole Proprietorship?

• A business where 2 or more people share ownership

• A business owned by shareholders

• A business that is owned by one individual

Which of the following is an advantage of sole proprietorship?

• Owner has complete control

• Owner gets all the stress

• Cannot raise capital

• All the above

Partnership requires at least three people

• True

• False

Business owned by shareholders is

• Partnership

• Sole proprietorship

• Corporation

• Franchise

Marco's computer repair business has limited financial resources. What type of business is it?

• Sole Proprietorship

• Partnership

• Corporation

When Luigi's Pizzeria went out of business, he was still responsible for paying all of the restaurant's bills. What type of business did he have?

• Sole Proprietorship

• Partnership

• Corporation

Louise and Susan are meeting to plan a new advertising campaign for the town newspaper they own. What type of business do they have?

• Sole Proprietorship

• Partnership

• Corporation

Maria is using her savings to open a shop selling clothing from Mexico. What type of business is it?

• Sole Proprietorship

• Partnership

• Corporation

Over 2 millions people own stock in American Steel; what type of business is it?

• Sole Proprietorship

• Paartnership

• Corporation

Google, Amazon, and Facebook are examples of...

• Sole Proprietorships

• Partnerships

• Corporations