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Types of Businesses

Types of Businesses. The Global Economy. Gov’t Involvement in the Economy. Starting a restaurant with a friend where you both have unlimited liability is called a… monopoly partnership proprietorship corporation. An advantage of being an owner of a corporation is… unlimited liability

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Types of Businesses

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  1. Types of Businesses The Global Economy Gov’t Involvement in the Economy

  2. Starting a restaurant with a friend where you both have unlimited liability is called a… • monopoly • partnership • proprietorship • corporation

  3. An advantage of being an owner of a corporation is… • unlimited liability • partial liability • limited liability • gerrymandering

  4. What is a benefit of public goods? • they are free • there is no demand for them • many people can use them at the same time • all of the above

  5. How does the government pay for public goods? • taxes • borrowing money • fees • taxes, borrowing money & fees • all of the above • A, B, C, D & E • A thru F

  6. If Suntrust is offering a 5% interest rate on a savings account and Wachovia is offering a 6% interest rate where would you save your money? Suntrust Wachovia Bank of America your piggy bank

  7. The government uses anti-trust legislation to increase competition. True False not enough information extreme

  8. Overseeing how individuals and companies do business is a job of… the Fed Congress the legislative branch government regulatory agencies

  9. Which of the following are examples of government regulatory agencies CIA & FBI NFL & NBA FCC & EPA LOL & TMI

  10. All of the following are ways that government helps consumers in the economy, EXCEPT telling producers what to produce or make upholding contracts between businesses/ individuals preserving competition regulating businesses with agencies providing goods & services

  11. The 16th amendment gives Congress the power to… make treaties override presidential vetoes run for reelection collect income tax

  12. Which is NOT a function of the FED? keep the economy stable act as the government’s bank controls the money supply control the cost of utilities

  13. Why should Virginia produce and trade tobacco? because tobacco is good for you because it cost too much money to grow because Virginia is efficient in growing tobacco because Virginia has to the most smokers

  14. If the government reduced taxes, what would happen? individuals/ businesses would have more money to spend government would increase expenditures individuals/ businesses would have less money to spend

  15. The global economy has caused all of the following, EXCEPT increase of worker production increase of technology higher cost of production faster flow of information

  16. Why did the tomato turn red? Because it saw the salad dressing.

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