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WorksheetsEconomics Ch. 3
Total questions: 11
Worksheet time: 6mins
Name
Class
Date
1.
A general partnership is a partnership where
a)
All partners responsible for the management and financial obligations of the business.
b)
at least one partner is not active in the daily running of the business.
2.
What regulates the sale of stock in a corporation?
a)
shareholders
b)
Securities and Exchange Commission
c)
labor unions
d)
dividends
3.
Non-profit organizations may
a)
issue stock
b)
pay dividends
c)
provide goods and services to members
d)
pay income taxes
4.
The local chamber of commerce works to
a)
promote the welfare of its members
b)
earn dividends for its members
c)
protect its members from consumer complaints
5.
In a general partnership
a)
the business continues even if one partner dies
b)
partners usually draw up papers called articles of partnership
c)
partners are only liable for the business's debt up to the amount of their investment
d)
a charter is granted
6.
Which is an example of the government playing a direct role in the economy?
a)
libraries
b)
court systems
c)
police and fire station
d)
public utility regulation
7.
Which type(s) of business(es) do individuals have unlimited liability?
a)
Corporation
b)
Sole proprietorship
c)
Sole proprietorship and partnership
d)
Partnership
8.
Which type of business pays owners dividends?
a)
Partnership
b)
Corporation
c)
Sole proprietorship
9.
What type of merger takes place when two or more firms are producing the same kind of product?
a)
horizontal
b)
vertical
c)
diagonal
10.
What type of merger is taking place when companies are involved in different stages of manufacturing?
a)
Vertical
b)
Horizontal
c)
Diagonal
11.
A firm that has at least four businesses, each making unrelated products is called
a)
Corporation
b)
Multinational
c)
Depreciation
d)
Conglomerate
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