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WorksheetsSSEMI4 Benchmark Review
Total questions: 30
Worksheet time: 15mins
Name
Class
Date
1.
If Charlie Joseph's has one owner, it is a__?__
a)
Limited Partnership
b)
General Partnership
c)
Sole Proprietorship
d)
Corporation
2.
Which is not an advantage of sole proprietorship?
a)
freedom
b)
keep all profits
c)
small size
d)
unlimited liability
3.
If Ben & Jerry's has 2 people who work together in making decisions, it is a __?__
a)
Sole Proprietorship
b)
Limited Partnership
c)
General Partnership
d)
Corporation
4.
Which is an advantage of partnerships?
a)
Limited Life
b)
Specialization
c)
Disagreements
d)
unlimited liability
5.
If one partner simply gives money while the other tends to the day-to-day operations, this is a __?__
a)
Sole Partnership
b)
General Partnership
c)
Stocks Partnership
d)
Limited Partnership
6.
If Coca-Cola is run by shareholders & hired employees, it is a __?__
a)
Sole Proprietorship
b)
Limited Partnership
c)
General Partnership
d)
Corporation
7.
To own a piece of a corporation, you buy __?__
a)
Stocks
b)
Loans
c)
Interest
d)
Merger
8.
A benefit of a corporation is __?__
a)
Government Regulation
b)
Hard to start-up
c)
Limited liability
d)
Owners have little say
9.
A disadvantage of a corporation is __?__
a)
Efficiency
b)
Workers
c)
Getting financial help
d)
Government
10.
When 2 businesses that are involved in making different steps of a product join together, it is a __?__
a)
Left Merger
b)
Right Merger
c)
Horizontal Merger
d)
Vertical Merger
11.
When 2 businesses that make the same product join together, it is a __?__
a)
Left Merger
b)
Right Merger
c)
Horizontal Merger
d)
Vertical Merger
12.
Which business type has the highest percentage in the US with a whopping 74%?
a)
Limited Partnership
b)
General Partnership
c)
Corporation
d)
Sole Proprietorship
13.
A law governing what types of structures and businesses are allowed in a particular area
a)
Longevity Laws
b)
Collateral Laws
c)
Zoning Laws
d)
Net Worth Laws
14.
Property pledged by a borrower as security for a loan
a)
Collateral
b)
Stocks
c)
Shares
d)
Longevity
15.
What business type earns the highest percentage of profits in the US?
a)
Limited Partnerships
b)
General Partnerships
c)
Corporations
d)
Sole Proprietorships
16.
What is the stockholder's portion of a profit?
a)
Collateral
b)
Longevity
c)
Share
d)
Dividend
17.
A business that pays another established business to use the latter's name and products
a)
Franchise
b)
Cooperative
c)
Nonprofit Organization
d)
Conglomerate
18.
A business that is owned by those who use its goods and services
a)
Conglomerate
b)
Franchise
c)
Cooperative
d)
Nonprofit Organization
19.
an organization that generates revenue from product sales but does not distribute the profits to any owner or trustee
a)
Franchise
b)
Conglomerate
c)
Nonprofit Organization
d)
Cooperative
20.
corporation made up of several companies involved in different industries and markets
a)
Conglomerate
b)
Nonprofit
c)
Cooperative
d)
Franchise
21.
Lots of firms selling one thing at one price
a)
Oligopoly
b)
Monopoly
c)
Monopolistic Competition
d)
Pure Competition
22.
one firm selling one thing at one price
a)
Monopolistic Competition
b)
Pure Competition
c)
Monopoly
d)
Oligopoly
23.
lots of firms selling lots of things at lots of prices
a)
Monopolistic Competition
b)
Pure Competition
c)
Oligopoly
d)
Monopoly
24.
few large firms selling similar things at similar prices
a)
Monopolistic Competition
b)
Oligopoly
c)
Monopoly
d)
Pure Competition
25.
This type of monopoly would not make sense to have more than one
a)
Technological
b)
Vertical
c)
Government
d)
Natural
26.
This type of monopoly is created by the government
a)
Technological
b)
Government
c)
Natural
d)
Horizontal
27.
This type of monopoly has special technology no one else has
a)
Natural
b)
Government
c)
Technological
d)
Spatial
28.
Taxi cabs are an example of this type of Market Structure
a)
Oligopoly
b)
Monopolistic Competition
c)
Monopoly
d)
Pure Competition
29.
Utilities and new technologies (with a patent) is an example of this type of market structure
a)
Pure Competition
b)
Monopolistic Competition
c)
Oligopoly
d)
Monopoly
30.
Non-price competition, quality, advertising, location, etc. are ways this type of market structure competes with competitors
a)
Pure Competition
b)
Market Competition
c)
Monopolistic Competition
d)
Vertical Competition
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