Businesses and Market Structures

Businesses and Market Structures

12th Grade

15 Qs

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Assessment

Quiz

Social Studies

12th Grade

Practice Problem

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Created by

Jacqueline Anderson-Cain

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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following describe a Sole Proprietorship EXCEPT:

owned and operated by one person

Decisions are made quickly

limited liability

difficult to attract qualified employees becuase of limitations of money and benefits.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following describe a Corporations EXCEPT

Unlimited Liability

raises money by selling stock

Decisions are made by the CEO, Board of Directors, and Shareholders

double taxation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt


Which market structure has the largest number of suppliers?

Monopoly

Oligopoly

Monopolistic Competition

Perfect competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt


An unincorporated business owned by a single person, which may or may not have employees, is an

example of a(n)

Entrepreneurship

Partnership

Sole Proprietorship

Corporation

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a Monopoly?

Six Flags

Pepsi

Coke

Home Depot

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would be an example of a Perfect competition?

Farmers market

Louis Vuitton

Pepsi

Nike

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

I found these white socks at 10 different stands at the flea market. Why type of market system is being represented?

Monopoly

Oligopoly

Monopolistic Competition

Perfect competition

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