Business and Economics Quiz

The Great Recession from 2007 through 2009 resulted in a loss of more than 15 million jobs. The same number of jobs had been returned by 2014.

• True

• False

By 2020, it is expected that more than half of all jobs in the United States will be held by women.

• True

• False

The largest number of U.S. businesses have no employees other than the owner.

• True

• False

When a large business opens in an area, other businesses often will locate there to support the larger business.

• True

• False

All businesses make products.

• True

• False

Only very large businesses can become corporations.

• True

• False

Nonprofit corporations do not have to pay corporate income taxes.

• True

• False

In a partnership, each partner is liable for all the debts of the business if the business fails.

• True

• False

Most businesses use a functional organizational structure.

• True

• False

A span of control is a diagram that shows the structure of an organization.

• True

• False