1. What are the three basic types of business firms?
A. monopoly, competitive market, oligopoly
B. sole proprietor, competitive market, partnership
C. partnership, corporation, sole proprietor
D. company, corporation, monopoly
2. What are owners of corporations called?
A. Board members
B. Owners
C. Stock holders
D. Partners
3. What are types of markets?
A. competitive, monopoly, oligopolistic, monopolistic competition
B. sole proprietors, monopoly, partners
C. owners, oligopolistic, monopoly
D. competitive, sole proprietors, partnership
4. Which of the following is a monopoly?
A. local coffee house
B. Clothing store
C. First-class mail delivery
D. Corn Farm
5. Which would be a sole proprietor?
A. Disney
B. At&t
C. Family Restaurant
D. Microsoft
6. Which market has one seller?
A. Competitive monopoly
B. Competitive
C. Oligopolistic
D. Monopolistic
7. Define partnership?
A. a business that is owned by two or more co-owners called partners.
B. two people bounded by law
C. a business that is owned by one individual
D. a business with several stockholders
8. Which type of firm is generally the biggest?
A. sole proprietor
B. company
C. partnership
D. corporation
9. What is an advantage of a sole proprietor?
A. Profit taxed once
B. Benefits of specialization from partners
C. Double taxation
D. Complicated to set up
10. Which two types of business firms have many sellers?
A. Perfectly Competitive & Monopolistic Competitive
B. Oligopolistic & Monopolistic
C. Monopolistic & Perfectly Competitive
D. Monopolistic Competitive & Monopolistic
A. monopoly, competitive market, oligopoly
B. sole proprietor, competitive market, partnership
C. partnership, corporation, sole proprietor
D. company, corporation, monopoly
2. What are owners of corporations called?
A. Board members
B. Owners
C. Stock holders
D. Partners
3. What are types of markets?
A. competitive, monopoly, oligopolistic, monopolistic competition
B. sole proprietors, monopoly, partners
C. owners, oligopolistic, monopoly
D. competitive, sole proprietors, partnership
4. Which of the following is a monopoly?
A. local coffee house
B. Clothing store
C. First-class mail delivery
D. Corn Farm
5. Which would be a sole proprietor?
A. Disney
B. At&t
C. Family Restaurant
D. Microsoft
6. Which market has one seller?
A. Competitive monopoly
B. Competitive
C. Oligopolistic
D. Monopolistic
7. Define partnership?
A. a business that is owned by two or more co-owners called partners.
B. two people bounded by law
C. a business that is owned by one individual
D. a business with several stockholders
8. Which type of firm is generally the biggest?
A. sole proprietor
B. company
C. partnership
D. corporation
9. What is an advantage of a sole proprietor?
A. Profit taxed once
B. Benefits of specialization from partners
C. Double taxation
D. Complicated to set up
10. Which two types of business firms have many sellers?
A. Perfectly Competitive & Monopolistic Competitive
B. Oligopolistic & Monopolistic
C. Monopolistic & Perfectly Competitive
D. Monopolistic Competitive & Monopolistic
[email protected] Social Studies Date Created: May 2, 2013 Updated: May 18, 2013