Economics Unit 2 Review

Economics Unit 2 Review

42 Qs

quiz-placeholder

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Economics Unit 2 Review

Economics Unit 2 Review

Assessment

Quiz

others

Medium

Created by

Robert Sharpe

Used 52+ times

FREE Resource

42 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

1. Sole proprietors have ____, meaning they are financially responsible for all problems related to their businesses.

financial capital
unlimited liability
stock
limited liability

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

2. A ____ is a business that has many of the rights and responsibilities of an individual.

corporation
partnership
sole proprietorship
closed shop

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

3. Ownership shares of a corporation are called

charters.
bonds.
bills.
stocks.

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

4. Stockholders elect a ____ to act on their behalf.

manager
president
board of directors
chief executive officer

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

5. ____ means that stockholders are not responsible for the debts of the corporation.

Unlimited liability
Double taxation
Limited liability
Sole proprietorship

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

6. ____ is when union and company officials meet to discuss the terms of the workers’ new contract.

Mediation
Collective bargaining
Arbitration
Closed shop

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

7. ____ is when a third party listens to both sides and then decides how to settle the disagreement.

Mediation
Closed shop
Arbitration
Collective bargaining

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