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Business
8th -
12thgrade
PoBMF - Ch 4 Business in the Free Enterprise Test
25 questions
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- 1. Multiple Choice
A business that buys large quantities of products directly from producers and sells products in smaller quantities to retailers is called a(n)
cooperative
business market
wholesaler
proprietorship
- 2. Multiple Choice
An association of two or more persons who co-own a business with the objective of earning a profit is called a(n)
cooperative
proprietorship
producer
partnership
- 3. Multiple Choice
A_________________________ is a market that consists of customers who buy products for use in a business.
Not-for-Profit Organization
Business Market
Cooperative
Wholesaler
- 4. Multiple Choice
A business that is owned and operated by those using its services
Cooperative
Partnership
Business Market
Retailer
- 5. Multiple Choice
An organization that generates revenue -
producer
for-profit business
nonprofit business
retailer
- 6. Multiple Choice
Business that creates goods and services
producer
retailer
intermediary
wholesaler
- 7. Multiple Choice
Business that buys products from wholesalers or directly from producers, and sells them to consumers to make a profit
Retailer
Service business
Intermediary
for-profit business
- 8. Multiple Choice
Business that is owned and often operated by a single individual
partnership
corporation
limited liability corporation
proprietorship
- 9. Multiple Choice
Share of ownership in a corporation
stock
dividend
board of directors
liability
- 10. Multiple Choice
Portion of a corporation's earnings distributed to stockholders
proprietorship
dividend
stock
business market
- 11. Multiple Choice
An accounting firm that prepares taxes for an advertising agency operates in the ______ market.
business-to-consumer
consumer-to-business
business-to-business
consumer-to-consumer
- 12. Multiple Choice
Which of the following is a business that is owned and operated by a single individual?
Partnership
Proprietorship
Corporation
Cooperative
- 13. Multiple Choice
Which is not an advantage of a partnership type of ownership?
Easy to start
Limited liability
Combined financial resources
Simple tax structure
- 14. Multiple Choice
Cooperatives are run
By the government
Democratically
Similarly to an LLC
Without voting members
- 15. Fill in the Blank
One of the sole purposes of a for-profit business is to be productive and generate money for its
- 16. Fill in the Blank
Governmental organizations are part of the _______________sector.
- 17. Fill in the Blank
The customer of a service business is often called the ___________________.
- 18. Fill in the Blank
The _____________market consists of customers who buy products for their own use.
- 19. Fill in the Blank
Wholesalers are often called____________________________.
- 20. Fill in the Blank
The simplest and most common form of business ownership is a(n) ________________________________.
- 21. Fill in the Blank
A partner who does not participate in managing the business is a(n) ______________________ partner.
- 22. Fill in the Blank
the form of business described as an "artificial person" is a(n) _________________________________.
- 23. Fill in the Blank
The group of individuals who make high-level management decisions for a corporation and establishes company policies is called the __________ __________ ___________.
- 24. Fill in the Blank
The form of business ownership that combines the benefits of a corporation with those of proprietorships and partnerships is a(n) ______________________________.
- 25. Fill in the Blank
An organization that exists to serve some public purpose is called a _________-__________-__________ organization.
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