Virtual AR- Module 6 Review Question Preview (ID: 26668)


Roles In A Market Economy. TEACHERS: click here for quick copy question ID numbers.

Business organization that is owned by many people, but is treated by law as though it were a person is known as____________.
a) Sole Proprietor
b) Partnership
c) Corporation
d) Franchise

A business that has a main goal of making money is called a non-profit business.
a) True
b) False
c)
d)

Type of business that is owned and operated by one person is called what?
a) Sole Proprietor
b) Partnership
c) Corporation
d) Franchise

A intended consequence is something that was not planned to happen.
a) True
b) False
c)
d)

A ____________ is a person that buys things for personal use.
a) Consumer
b) Producer
c)
d)

The government creates policies to help improve market outcomes is done with what?
a) Intended Consequences
b) Regulatory Policy
c) Unintended Consequences
d)

A person or company that supplies goods for sell is called a __________________.
a) Consumer
b) Producer
c) Government
d)

What is a franchise?
a) A person who opens a business.
b) A license of a proven business
c) A ticket of operation
d)

A business or firm owned by two or more individuals is considered to be what kind of business?
a) Sole Proprietorship
b) Partnership
c) Corporation
d) Franchise

What is a good example of unintended consequences?
a) War
b) Cable providers
c)
d)

All decisions in a market economy are based on _______________.
a) Individuals
b) Businesses
c) Individuals and Businesses
d)

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