Reform/Sectionalism Notes 1 Question Preview (ID: 54941)


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production of goods and services carried out by an owner risking their own money is called?
a) Private Enterprise
b) Private Property
c) Consumer Soveriegnty
d) Free Enterprise

The effort of a person to attract business by offering the best deal is known as what?
a) profit motive
b) competition
c) private enterprise
d) socialism

Ownership of property by an individual is called what?
a) sovereignty
b) coporation
c) competition
d) private property

The money after all the expenses are subtracted from the amount recieved is known as what?
a) profit motive
b) private property
c) private enterprise
d) consumer sovereignty

The idea that assumes that consumers decide the types, quality and quantity of goods provided
a) free enterprise
b) private property
c) private enterprise
d) consumer sovereignty

Freedomof private business to organize and operate for profit in a competitive system without governement control is called what?
a) private sovereignty
b) free enterprise
c) profit motive
d) competition

A unit of ownership in a company
a) share of stock
b) debtors note
c) bond
d) profit motive

Payment to stockholders from a corporations profits
a) monthly payment
b) stock
c) divident
d) debt

Irish moved to the US in mid 1800's because what happened in Ireland?
a) gold rush
b) attack of the clones
c) revolutionary war
d) famine/drought

What is an advantage of a corporation over private ownership?
a) someone to take the blame if it fails
b) less financial risk
c) less taxes owed
d) easier to hire workers

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