Answers
1. C - The three types if businesses are sole proprietors, and corporations.
2. C - Owners of corporations are called stockholders. Stockholder have limited liability and the owners are generally the most invested stockholders.
3. A - The types of business markets are perfectly competitive, monopolistic, oligopolistic, and monopolistic competitive.
4. C - First class mail delivery is a monopolistic service because it is a unique service.
5. C - A family restaurant is a sole proprietor because it is only taxed once and has one owner.
6. D - A monopolistic market only has one seller.
7. A - A partnership is a business that is owned by two or more co-owners called partners.
8. D - A corporation is the largest type of firm.
9. A - A sole proprietor's profit is only taxed once.
10. A - Perfectly Competitive and Monopolist Competitive markets have many sellers.
2. C - Owners of corporations are called stockholders. Stockholder have limited liability and the owners are generally the most invested stockholders.
3. A - The types of business markets are perfectly competitive, monopolistic, oligopolistic, and monopolistic competitive.
4. C - First class mail delivery is a monopolistic service because it is a unique service.
5. C - A family restaurant is a sole proprietor because it is only taxed once and has one owner.
6. D - A monopolistic market only has one seller.
7. A - A partnership is a business that is owned by two or more co-owners called partners.
8. D - A corporation is the largest type of firm.
9. A - A sole proprietor's profit is only taxed once.
10. A - Perfectly Competitive and Monopolist Competitive markets have many sellers.
[email protected] Social Studies Date Created: May 2, 2013 Updated: May 18, 2013