Within the circular flow of economic activity, businesses interact with individuals in the ______ to obtain the productive resou
rces they need to run their business.
Question 1 options:
resource/factor market
virtual market
farmers market
product market
Which of the following is an example of a sole proprietorship?
Question 2 options:
Kelly’s Klothing; owned by Kelly Reed
Jim’s Jeans; owned by Jim Farmer and Jimmy Brown
Opie’s Oranges; a business owned by shareholders and managed by CEO Opie Taylor
Green Grass; a lawn care business owned by Gernie, Gerry, George, and Gage.
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For money to function correctly in the economy, it must be accepted as a medium of exchange. This means that the money ______.
Question 3 options:
cannot be exchanged by anyone
must be accepted as a valid form of payment
must have value
must be able to be moved around
The business organization in which stockholders invest funds and in return receive part-ownership in the company is known as a(n) ___.
Question 4 options:
conglomerate
LLC (limited liability company)
general partnership
corporation
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1 answer:
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