ECON-Business Ownership

Sole proprietorships are with:

• 1 owner

• multiple owners

• few regulations

• limited funds

• limited liability

Sole proprietorships make up what percentage of all US businesses?

• 10%

• 50%

• 70%

• 30%

ALL partnerships are exactly the same.

• true

• false

General partnerships are when all partners:

• share management

• share debts

• share losses

• are liable for only their problems

Limited liability partnership occurs when:

• all partners share the blame equally

• partners are liable for their share

Which partnership would you rather take part in?

• general

• limited

• limited liability

Limited partnership is when:

• at least 1 partner is not involved in the day-to-day operations

• at least 1 partner that is liable for all

• all are equally liable

• no one is liable

Corporations include:

• heavy regulation

• no regulation

• shareholders and stocks

• limited liability

If Pepsi and Coke combined, they would be:

• a vertical merger

• a horizontal merger

• an oligopoly

• a sole proprietorship

Dot's pretzels and Hershey combined are:

• a monopoly

• a vertical merger

• a horizonal merger

• perfect competition