
Unit 2 Test Review
Quiz
•
Social Studies
•
12th Grade
•
Practice Problem
•
Easy
Elizabeth Aldridge
Used 13+ times
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36 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Someone buys a car in exchange for a large amount of money. They have completed an exchange in which part of the circuclar flow model?
Product Market
Factor Market
Firms
Individuals
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do businesses provide for consumers according to the circular flow model?
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do households provide to the resource market?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the circular flow model, the product market describes _____.
firms that sell goods and services to households
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Where are factors of production (land, labor, etc) exchanged in the circular flow model?
Factor Market
Product Market
Firms
Individuals
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sole proprietors have ____________, a situation in which a business owner is responsible for all the losses, debts, and other claims against the business.
unlimited liability
limited liability
legal immunity
dividend
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A __________ is a form of business organization recognized by law as a separate legal entity having all the rights of an individual. It has the right to buy and sell property, enter into legal contracts, and sue and be sued.
corporation
partnership
conglomerate
proprietorship
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