Unit 7 Test Review: Intro to Economics

Unit 7 Test Review: Intro to Economics

8th Grade

41 Qs

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Unit 7 Test Review: Intro to Economics

Unit 7 Test Review: Intro to Economics

Assessment

Quiz

History

8th Grade

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Created by

Nick Bergheimer

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41 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A company wants to computerize its accounting system. It issues stocks to raise additional funds.

Sole Proprietorship

Partnership

Corporation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

2. Mario and his brother Luigi started a plumbing company together. They split the profits and the expenses.

Sole Proprietorship

Partnership

Corporation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

3. Mary opened a dance studio. She receives all the profits from her students’ lessons.

Sole Proprietorship

Partnership

Corporation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Mr. Lewis pays taxes on dividends for stocks he owns in a manufacturing company. The company also pays taxes on its income before distributing it to stockholders.

Sole Proprietorship

Partnership

Corporation

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Dan, Tony, and Mac own a pizza parlor. They rotate hours and days off.

Sole Proprietorship

Partnership

Corporation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Mr. Wells owns a card shop. Because baseball cards have declined in popularity his business is struggling. He decides he has to sell his house to pay off his business debts.

Sole Proprietorship

Partnership

Corporation

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

8. A person who takes a risk to produce goods and services in search of a profit is an entrepreneur. In which kind of business structure may entrepreneurs establish a business?

Partnerships and Corporations

Sole Proprietorships, Partnerships, and Corporations

Only Corporations

Sole Proprietorships and Corporations

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