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