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CE 12 Review #2
Test Description: SOL review for CE 12
Instructions: Answer all questions to get your test result.
1) A partnership is owned by?
A
A group of investors
B
One person
C
The government
D
Two or more people
2) Jean is opening a pizza restaurant. she will take all the risk in order to keep all the profits. Jean is?
A
A government worker
B
A partner
C
An entrepreneur
D
A corporation
3) In a proprietorship, the profits are kept by?
A
Two people
B
The government
C
A group of people
D
One person
4) Some of the profits a business makes are often used to buy more?
A
Interest
B
Goods and services
C
Resources
D
Taxes
5) In the U.S. economy, all of the following move continuously between markets, businesses, and households EXCEPT?
A
Resources
B
Goods
C
Services
D
Interest
6) In the U.S. economy, what do businesses sell to consumers?
A
Labor
B
Public goods
C
Taxes
D
Goods and services
7) In the U.S. economy, what do consumers sell to businesses?
A
Goods
B
Taxes
C
Interest
D
Resources
8) Private financial institutions act as intermediaries between savers and?
A
Borrowers
B
The government
C
Businesses
D
Taxation
9) VA and the U.S. seek out international trade to?
A
gather knowledge
B
Purchase less expensive goods
C
Increase opportunities to travel
D
Become more powerful
10) Individuals own the resources used in production, sell the resources, and use the income to?
A
Provide public goods and services
B
Purchase products
C
Buy more resources
D
Increase consumption
*select an answer for all questions
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