21 Economic System and Business Ownership Quiz

21 Economic System and Business Ownership Quiz

11th Grade

10 Qs

quiz-placeholder

Similar activities

Types of Organizations

Types of Organizations

11th Grade

13 Qs

5-2 Establishing a Business

5-2 Establishing a Business

9th - 12th Grade

10 Qs

Types of Business Ownership

Types of Business Ownership

9th - 11th Grade

8 Qs

Mastery Test W-1: Nature and Forms of Business Organization

Mastery Test W-1: Nature and Forms of Business Organization

11th - 12th Grade

15 Qs

Forms of Ownership

Forms of Ownership

9th - 12th Grade

10 Qs

Classification of Business

Classification of Business

9th Grade - University

12 Qs

Business Structure & Entrepreneurship Terms

Business Structure & Entrepreneurship Terms

9th - 12th Grade

10 Qs

Business ventures and Business roles

Business ventures and Business roles

11th Grade

12 Qs

21 Economic System and Business Ownership Quiz

21 Economic System and Business Ownership Quiz

Assessment

Quiz

Business

11th Grade

Easy

Created by

BRIDGOTTE GRIFFIN

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 10 pts

Media Image

What was America's main industry during the early development of the country? What major era in history moved America in a new direction of economic development?

agriculture

farming

factories

services

2.

MULTIPLE CHOICE QUESTION

1 min • 10 pts

What are other names used to describe free enterprise?

Profit System

Capitalism

Market

Economy

All the above

3.

MULTIPLE CHOICE QUESTION

1 min • 10 pts

The six basic factors on which the US free enterprise system is based are:

Private ownership, control of productive resources, free market, profit motive, supply and demand, competition, and limited government involvement.

False

True

4.

MULTIPLE SELECT QUESTION

1 min • 10 pts

Name three things a company might do to become more profitable in a free market.

reorganize the company

lay off workers

install new technology

cheat and steal

5.

MULTIPLE SELECT QUESTION

1 min • 10 pts

Media Image

What are the disadvantages of a monopoly?

open competition

prevents competition

limits the

Free Market

charges Fair

prices

6.

MULTIPLE CHOICE QUESTION

1 min • 10 pts

Which is NOT a legal form of business ownership.

Sole Proprietorship

Partnership

Human Trafficking

Corporation

7.

REORDER QUESTION

1 min • 10 pts

Order from simple, easy to start Business Structure to most complex.

C Corporation

Partnership

Sole

Proprietorship

LLC (Corporation)

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?