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WorksheetsPoBMF - Ch 4 Business in the Free Enterprise Test
Total questions: 25
Worksheet time: 13mins
A business that buys large quantities of products directly from producers and sells products in smaller quantities to retailers is called a(n)
cooperative
business market
wholesaler
proprietorship
An association of two or more persons who co-own a business with the objective of earning a profit is called a(n)
cooperative
proprietorship
producer
partnership
A_________________________ is a market that consists of customers who buy products for use in a business.
Not-for-Profit Organization
Business Market
Cooperative
Wholesaler
A business that is owned and operated by those using its services
Cooperative
Partnership
Business Market
Retailer
An organization that generates revenue -
producer
for-profit business
nonprofit business
retailer
Business that creates goods and services
producer
retailer
intermediary
wholesaler
Business that buys products from wholesalers or directly from producers, and sells them to consumers to make a profit
Retailer
Service business
Intermediary
for-profit business
Business that is owned and often operated by a single individual
partnership
corporation
limited liability corporation
proprietorship
Share of ownership in a corporation
stock
dividend
board of directors
liability
Portion of a corporation's earnings distributed to stockholders
proprietorship
dividend
stock
business market
An accounting firm that prepares taxes for an advertising agency operates in the ______ market.
business-to-consumer
consumer-to-business
business-to-business
consumer-to-consumer
Which of the following is a business that is owned and operated by a single individual?
Partnership
Proprietorship
Corporation
Cooperative
Which is not an advantage of a partnership type of ownership?
Easy to start
Limited liability
Combined financial resources
Simple tax structure
Cooperatives are run
By the government
Democratically
Similarly to an LLC
Without voting members
One of the sole purposes of a for-profit business is to be productive and generate money for its
(a)
Governmental organizations are part of the (a) sector.
The customer of a service business is often called the (a) .
The (a) market consists of customers who buy products for their own use.
Wholesalers are often called (a) .
The simplest and most common form of business ownership is a(n) (a) .
A partner who does not participate in managing the business is a(n) (a) partner.
the form of business described as an "artificial person" is a(n) (a) .
The group of individuals who make high-level management decisions for a corporation and establishes company policies is called the __________ __________ ___________.
(a)
The form of business ownership that combines the benefits of a corporation with those of proprietorships and partnerships is a(n) (a) .
An organization that exists to serve some public purpose is called a _________-__________-__________ organization.
(a)
