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Types Of Businesses And Competition
Test Description: CE12a 13c
Instructions: Answer all questions to get your test result.
1) Mr. Sanchez owns a store that sells sports equipment. What type of business does he have?
A
corporation
B
proprietorship
C
partnership
D
market
2) Investors are only liable for the amount of investment in a _____.
A
corporation
B
proprietorship
C
sole-proprietorship
D
partnership
3) Which answer choice is NOT a way the U.S. government promotes competition?
A
encourages global trade
B
promotes due process
C
supports new businesses
D
enforces anti-trust laws
4) Bill Gates took a risk and opened Microsoft. He is an example of a ____.
A
dictator
B
entrepreneur
C
partnership
D
director
5) What kind of laws are meant to limit monopolies?
A
trade cap laws
B
monopoly laws
C
anti-trust laws
D
global laws
6) Increased competition often leads to lower prices and ____.
A
lower quality
B
no change in quality
C
balanced equality
D
better quality
7) Jim Bob and Marianne opened a restaurant. They started a ___.
A
partnership
B
proprietorship
C
corporation
D
sole proprietorship
8) Which of the following is a synonym for global?
A
state
B
worldwide
C
local
D
national
9) You can buy stock in Disney and Coca-Cola. These companies are ___.
A
corporations
B
partnership
C
sole proprietorship
D
proprietorship
10) Who is the best teacher?
A
Hodges
B
Hodges
C
Hodges
D
Hodges
*select an answer for all questions
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