Business org/ financial institutions/ circular flow/ global econ

In this form of business organization, the owner takes all the risks and receives all the profits -

• Proprietorship

• Partnership

• Corporation

• Global economy

In this form of business organization, two or more owners share the risks and share the profits -

• Proprietorship

• Partnership

• Corporation

• Global economy

In this form of organization, the business is authorized by law to act as a legal person. The business owners share the profits, but are liable only for their investments -

• Proprietorship

• Partnership

• Corporation

• Global economy

A person who takes a risk to produce goods and services in search of profit is -

• Corporation

• GDP

• An entrepreneur

• A consumer

In a proprietorship, who takes all the risks and all the profits?

• A large corporation with multiple owners

• Two or more owners

• A volunteer ran organization

• A single owner

A business partnership has ___ ____ who share the risks and the profits

• A single owner

• Two or more owners

• A legal person

• Partnership

A corporation is a form of business that is authorized by law, regardless of the number of owners, to act as:

• Partnership

• An entrepreneur

• A legal person

• A hedge fund

In which form of business is owner liability limited to investment?

• Corporation

• A publicly run facility

• Consumers

• Partnership

Why might it benefit a business to become a corporation?

• If the business is successful, the owner is responsible for paying the entirety of the business loans

• If the business fails, the owners won't be responsible for paying the business debts

• If the business fails, the owners are responsible for the business debts

• If the business is successful, the owners won't be responsible for paying his/her employees

In the U.S. economy, what flows continuously among households, businesses and markets?

• Bankruptcy

• Resources

• Elimination of taxes

• goods

• services