Question

Within the circular flow of economic activity, businesses interact with individuals in the ______ to obtain the productive resources 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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Answer 1

Answer:

a

Explanation: