Q. Sara’s Hair Palace is a small, locally owned beauty salon in Sterling. This represents what type of business?

Q. Susie is starting her own lemonade store. What economic term would best describe Susie and what does that term mean? 

Q. Dan has $5,000. He wants to invest his money in the type of business that has the least amount of liability. In which type of business should he invest?

Q. A business partnership has ___________ who share the risks and the profits.

Q. In which of the following would one person be responsible for all of the risks but also receive all of the profits?

Q. What do we call a person who is willing to take the risks of starting a business in order to make a profit?

Q. Decreased government spending may result in _____ taxes. 

Q. Which of the following is an advantage of sole proprietorships:

Q. Which of the following is a disadvantage of sole proprietorships:

Q. Which of the following is an advantage of general partnerships:

Q. Which of the following is an advantage of the corporation as a form of business ownership:

Q. Two local business owners want to reduce competition, so they decide to form one organization from the two companies. This is an example of a

Q. A business owner who prefers to maintain complete control of all business activities might consider structuring the venture as a(n)

Q. What is a company called that sells stock to raise money?

Q. How is a corporation different from a sole proprietorship?

Q. Of the three types of businesses, which one provides the most jobs? (Hint:  Which one is the most common?)

Q. An entrepreneur can choose to have which type of business organization?

Q. Why would a company need to issue stock?