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Economics - Spring DCA Review

Authored by Hans Runk

Social Studies

12th Grade

Used 3+ times

Economics - Spring DCA Review
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43 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

This type of business is owned by one person.

Partnership

Corporation

Franchise

Sole Proprietorship

2.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Advantages of this business type are that the owner is their own boss and gets to keep all the profits.

Partnership
Sole Proprietorship
Corporation
Franchise

3.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

What is a major advantage of a business that is a partnership rather than a sole proprietorship?

The responsibility for the business is shared
The business is easy to set up
The partners are not responsible for business debts
The business is easy to sell

4.

MULTIPLE CHOICE QUESTION

1 min • 3 pts

not having enough

supply

scarcity

human resouce

taxes

5.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

What is it called when something is given up for something else?

Choice

Capitalism

Inflation

Opportunity Cost

6.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Limited goods and resources require that choices be made. All resources and goods are limited, leading to the inability to satisfy all wants at the same time.

economics

scarcity

resources

choice

7.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Which of the following is the best example of a WANT?

A t-shirt

A plate of spaghetti

An apartment

A haircut

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