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Business In The U.S. Economy
Test Description: Review for First Semester Final
Instructions: Answer all questions to get your test result.
1) People born between 1946 and 1964 are called
A
Baby Boomers
B
Generation Y
C
Old
D
Generation X
2) One who has no explicit or implicit contract for long-term employment.
A
Short-term employee
B
hard worker
C
contingent worker
D
long-term employee
3) The largest number of businesses in the U.S. are
A
Partnerships
B
Proprietorships
C
Franchises
D
Corporation
4) All businesses
A
make a profit
B
buy goods and services
C
expand
D
are successful
5) Get supplies from other producers and convert them into products
A
extractors
B
farmers
C
manufacturers
D
intermediaries
6) An example of an intermediary is a(n)
A
Walmart
B
oil miner
C
Christmas Tree Farm
D
Postal Service
7) Create the products and services used by individuals and other businesses
A
Producers
B
intermediaries
C
service businesses
D
corporation
8) How many business activities are performed by ALL businesses, no matter what their size?
A
7
B
8
C
4
D
6
9) An example of the maintaining business records business activity is
A
doing taxes
B
taking an inventory
C
filing transaction receipts
D
All of the above
10) The fastest growing part of the economy is
A
service businesses
B
corporation
C
proprietorships
D
franchises
*select an answer for all questions
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