WorksheetsRapid Review Blue CE.12c-d
Total questions: 10
Worksheet time: 3mins
Name
Class
Date
1.
A business owenership with one owner who takes all the risk and all the profits.
a)
Sole proprietorship
b)
Entrepreneur
c)
Corperation
d)
Partnership
2.
A business owndership with two or more owners who share the risks and the profits.
a)
Sole proprietorship
b)
Entrepreneur
c)
Corperation
d)
Partnership
3.
A business ownership that acts as a "legal person." Profits are shared and liability is limited.
a)
Sole proprietorship
b)
Entrepreneur
c)
Corperation
d)
Partnership
4.
A person who takes a risk in order to make a profit.
a)
Sole proprietorship
b)
Entrepreneur
c)
Corperation
d)
Partnership
5.
Entrepreneurs create new products and deliver products in innovative ways which increases....
a)
Job loss
b)
Competition
c)
Career Development
d)
Economic Growth
6.
Resources, goods, services, money move between individuals, businesses, and government. What does this statement describe?
a)
The Economic Flow (Circular)
b)
The Business Flow
c)
The Economic Transition
7.
Who owns the resources, sells resources, and uses the income to purchase products?
a)
Businesses
b)
The Government
c)
Individuals
8.
Who buys resources, makes products to sell, and use the profits to buy more resources?
a)
Businesses
b)
The Government
c)
Individuals
9.
Who uses tax revenue to provide public goods and services?
a)
Businesses
b)
The Government
c)
Individuals
10.
What allows the federal government to generate revenue by collecting an income tax?
a)
16th Amendment
b)
14th Amendment
c)
1st Amendment
100 %
