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