Bus. Org & Mkt. Structures

Bus. Org & Mkt. Structures

9th - 12th Grade

10 Qs

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Bus. Org & Mkt. Structures

Bus. Org & Mkt. Structures

Assessment

Quiz

Social Studies

9th - 12th Grade

Medium

Created by

Jana Mullis

Used 2+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choose the correct analogy regarding business organizations and market structures.

a market structure is like a baseball team

a market structure is like a baseball field

a business organization is like a baseball field

a business organization is where businesses play

2.

DROPDOWN QUESTION

1 min • 1 pt

Which of the following market structures has the least barriers to entry? (a)  

monopoly
monopolistically competitive
pure competition
oligopoly

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which business organization do owners give up the least responsibility?

corporation

partnership

sole proprietorship

monopoly

4.

DRAG AND DROP QUESTION

1 min • 1 pt

A sole proprietorship has ​ (a)   liability and​ (b)   life. Owners ​ (c)   lose personal assets and the business ​ (d)   last forever.

unlimited
limited
can
cannot

5.

MATCH QUESTION

1 min • 1 pt

Match the following

IRS collects from the business and its owners

partnership

can raise the most capital

corporation

represents partial ownership in a company

Sole Proprietorship

owners are responsible for each other's actions

stock

least protection for owners

double taxation

6.

DROPDOWN QUESTION

1 min • 1 pt

In a ​ (a)   competitive market, producers are called price takers because they have ​ (b)   control over pricing. This in contrast to a monopolistically competitive market where producers have ​ (c)   control over pricing because products are (d)   similiar.

purely
little
more
less

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a benefit of a sole proprietorship?

Unlimited liability

Limited life

easy to start

protection from creditors

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