Worksheets8th Grade Final
Total questions: 66
Worksheet time: 58mins
What is owning all the businesses in a particular field?
Vertical Integration
Horizontal Integration
Trust
Antitrust
John D. Rockefeller practiced horizontal integration by buying
wildcatters
oil refining business
steel businesses
pipelines and tankers
Trusts sought to increase their profits by eliminating
competition
monopolies
rebates
philanthropy
Social Darwinists were against
laissez faire capitalism
survival of the fittest
government regulation of business
unsafe working conditions
Philanthropists
gave millions to charity
combined to drive small industries out of business
criticized unfair business practices
protested laissez faire capitalism
The Sherman Antitrust Act was passed to
make monopolies illegal
encourage philanthropy
regulate the NY Stock Exchange
control the boom and bust cycle
Owning every step in the manufacturing process is
trust
monopoly
vertical integration
horizontal integration
Free enterprise is
free government help for business
giving away free samples to win new customers
business that is free from government involvement
freedom from monopolies
Entrepreneurs are people who
give money to charity
set up new businesses
believe in Social Darwinism
oppose trusts and monopolies
Corporations sold stock to
raise money for expansion
advertise their products
achieve vertical integration
compete in the NY Stock Exchange
In the late 1800s the US economy
was very stable
declined steadily
went through cycles of boom and bust
increased steadily
Andrew Carnegie practiced vertical integration by buying
steel factories
shares of stock
mines, coal fields, and railroads
public libraries
Is being your own boss a perk of being an Entrepreneur?
Yes
No
What is the risk of being an Entrepreneurs?
Damages relationships
Unemployment
Feeling like a failure
Shorter work days
What term means "Owned by one individual (or a married couple)?
Sole Proprietorship
Quantum Entanglement
Breaking Bad
Dirty Dancing
If your business partner puts your business in debt, are you legally obligated to help clear that debt?
Yes
No
What is a partnership?
Are corporations owned by their stockholders?
True
False
Ownership is _______ to transfer
easy
hard
There are two types of organizations, what are they?
Non-profit
For-profit
GMO's
H20
1. A business that is owned and controlled by one person
is a:
a. cooperative
b. partnership
c. sole proprietorship *
d. corporation
2. Individuals who invest in a corporation by buying stock are called?
a. subsidiaries
b. conglomerates
c. cooperatives
d. stockholders *
4. Business organization that is treated by law as if it were an individual person(can sue and be sued) is a?
a. cooperative
b. partnership
c. sole proprietorship
d. corporation *
5. Business that is owned and controlled by two or more people is a:
a. cooperative
b. partnership *
c. sole proprietorship
d. corporation
6. Certificates of ownerships in a corporation are called:
a. bonds
b. dividends
c. stocks *
d. interest
It is a form of business refers to an arrangement where one person/ company grants another person/ company the right to use its trademark/ trade-name.
CORPORATION
COMPANY
Corporation
FRANCHISING
Advantage: Start-up cost are low
Sole Proprietorship
Partnership
Franchising
Entrepreneurship
This refers to a person/ company that is granted a license to do business under the franchisor's trademark and trade name.
FRANCHISOR
PARTNER
SOLE PROPRIETOR
FRANCHISEE
Advantage: Shared responsibility
Sole Proprietorship
Partnership
Franchising
Entrepreneurship
Disadvantage: Other franchisees could give the
brand a bad reputation
Sole Proprietorship
Partnership
Franchising
Franchisee
Sole Proprietorship: All responsibilities are yours
Advantage
Disadvantage
Two heads are better than one
Advantage: Sole Proprietorship
Disadvantage: Partnership
Advantage: Partnership
Disadvantage: Sole Proprietorship
The easiest form of business to start is
Corporation
Sole Proprietorship
Franchise
Partnership
Must be chartered by the state before opening
Corporation
Sole Proprietorship
Franchise
Partnership
The disadvantage of this form of business is that you could have trouble raising capital for the business.
Corporation
Franchise
Sole Proprietorship
Partnership
Walmart, Google, Amazon are examples of which form of business?
Partnership
Corporation
Sole Proprietorship
Franchise
Wendys, Five Guys, and Subway are this form of business?
Corporation
Franchise
Sole Proprietorship
Partnership
Clothes, jewelry, and cars are examples of what
Needs
Stocks
Wants
Expenses
The main goal of a business is to provide the needs and wants of consumers
True
False
Consumers are individuals who buy goods and services and customers use goods and services.
True
False
Which of the following would be indirect competition for a candy store?
Walmart, which sells candy
A hard candies boutique shop
A candy superstore
7-11
An ice cream cone is a
good
service
Offering a better warranty is an example of competing on:
product
service
price
sale
The first step in market research is
Gathering information
Define the question
Take action
Evaluate results
Conducting a survey of your friends to see how many might go to a trampoline park is an example of
Primary research
Secondary research
A lack of research
Which is an example of a trend?
Growing availability of WIFI
Shift to electric vehicles
Shift to organic foods
All of the above
What is a focus group?
A marketing team dedicated to a specific target market
A small group of people asked questions in person
A segment within a large online survey
A business plan is best described as:
A 30-second pitch given to investors
The historical record of what's been done with the business so far
A blueprint for the business
A projection of all possible future scenarios
A target consumer is
someone who will not go to Walmart
A potential investor
Someone likely to purchase your product or service
A consumer agency
What is a call to action?
Emergency call
Call to a small business foundation
Appeal for funding
Proposed next step that requires the listener to respond
When delivering your pitch, you should sound
Unemotional
Practiced but natural
Rehearsed as though you memorized it
Robotic
When buying an existing business, it is important to
Find out why the business is for sale
Review existing financial statements
Both a and b
None of the above
A business with two owners where the profits are taxed as income to the owners is most likely a:
Sole proprietorship
Partnership
Corporation
Snowball stand
In a percentage lease, the landlord receives a percentage of the business's:
Assets
Expenses
Accounts payable
Revenue
Which form of business gives you, the business owner, the most protection from lawsuits targeting your business?
Sole proprietorship
Partnership
Corporation
LLC
Freelancers
Provide services for free
Provide specialty services on an hourly basis or by the job
Are paid by a salary
Are able to obtain goods for free from vendors
How do employment agencies normally make money?
Selling advertising
Charging a fee to the employee or business when a match is made
Receiving a percentage of the hiring companies revenue
None of the above
Which is the correct order for the steps in the hiring process
Interviewing candidates, screening, reviewing and verifying application information, and making an offer
Screening, reviewing and verifying application information, interviewing candidates, and making an offer
Reviewing and verifying application information, screening, interviewing candidates, and making an offer
Screening, interviewing candidates, reviewing and verifying application information, and making an offer
If you decide partway through an interview that the candidate is not right for the job, you should
Ask if they have any friends they can recommend
Stop the interview and ask them to leave
Remain pleasant and positive, and let them know when you'll make a decision
Hire them if there are no other choices
A good job description generally includes
Job title
Duties
Competencies and skills
All of the above
Offering free snacks and drinks to attract employees is called a
Stock option
Draw
Magnet
Perk
What is a sales tax?
A tax that is a percentage of the price of a good or service
An amount of tax taken out of your paycheck
A tax only paid for items that cost more than $100
None of the above
An owner of a business is called
An entrepreneur
A partner
A manager
A boss
Which of the following is not a service?
Car wash
Oil change
Housekeeper
Car salesperson
Which type of payment for working is the same amount every paycheck through out the year?
Commission
$15/hour working at a store
A $60,000 salary
None of the above
