Business Organizations (Economics)
Flashcard
•
Other
•
9th - 12th Grade
•
Hard
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20 questions
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1.
FLASHCARD QUESTION
Front
Sara’s Hair Palace is a small, locally owned beauty salon in Sterling. This represents what type of business?
Back
sole proprietorship
2.
FLASHCARD QUESTION
Front
What economic term describes someone starting their own business?
Back
Entrepreneur - person who takes a risk to start a new company
3.
FLASHCARD QUESTION
Front
Dan has $5,000. He wants to invest his money in the type of business that has the least amount of liability. In which type of business should he invest? Options: corporation, partnership, proprietorship
Back
corporation
4.
FLASHCARD QUESTION
Front
A business partnership has ___________ who share the risks and the profits.
Back
Two or more owners
5.
FLASHCARD QUESTION
Front
In which of the following would one person be responsible for all of the risks but also receive all of the profits? Options: Corporation, Propreitership, Partnership, Dual owner business
Back
Propreitership
6.
FLASHCARD QUESTION
Front
What do we call a person who is willing to take the risks of starting a business in order to make a profit?
Back
Entrepreneur
7.
FLASHCARD QUESTION
Front
Decreased government spending may result in _____ taxes.
Back
lower
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