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SOL CE.12
Test Description: 12a-d
Instructions: Answer all questions to get your test result.
1) In a proprietorship, the profits are kept by-
A
one person
B
the government
C
two people
D
a group of people
2) Jean is opening a pizza restaurant. She will take all the risks in order to keep all the profits. She is-
A
a corporation
B
a government worker
C
a partner
D
an entrepreneur
3) What type of business organization can act as one legal entity regardless of its number of owners?
A
entrepreneurship
B
partnership
C
corporation
D
proprietorship
4) In the United States economy, what do businesses buy from consumers?
A
interest
B
resources
C
goods and services
D
taxes
5) In the United States economy, what does the government provide to consumers and producers
A
interest
B
human labor
C
public goods and services
D
taxes
6) How does a financial institution encourage savings?
A
give away free prizes
B
pay interest
C
advertisement
D
provide a safe place for you to keep your money
7) Choose the term from the bank that means borrowing money.
A
loan
B
place in savings
C
deposit
D
withdrawl
8) Innovations in technology contribute to all of the following EXCEPT-
A
flow of information
B
increase in capital
C
increase in goods and services
D
increase in the cost of production
9) Virginia and the United States seek out international trade to-
A
become more powerful
B
purchase less expensive goods
C
gather knowledge
D
increase opportunities to travel
10) What is one way to lower the cost of production?
A
use more resources
B
offer discount prices
C
create new technologies
D
hire additional workers
*select an answer for all questions
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