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Unit 3 Review Flashcards | StudBud
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Unit 3 Review
Unit 3 Review
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Flashcards
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Questions
10
Answers
1
Corporations are owned by
No one
The board of directors
The government
Shareholders
2
What could be another term used in place of
collective bargaining
?
Negotiating
Dancing
Gambling
Fighting
3
Right to work laws ban mandatory union membership.
True
False
4
Which of the following is NOT a key component of a corporation?
Shareholders
Management
The government
The board of directors
5
Which of the following characteristics is true for a sole proprietorship?
It is an easy way to make money, requiring little time or effort
It files its own tax return
It is very easy to raise capital
The owner has unlimited liability for any debts the business has
6
The joining of two or more firms who operate at different stages of producing the same good/service is considered a
labor union
horizontal merger
vertical merger
conglomerate
7
Labor unions were formed and strengthened due to working conditions during this era:
Cottage Industries
The Industrial Revolution
The Bicentennial
The Revolutionary War
8
If McDonald's and Burger King merged to form one company, that would be considered a
kowabunga
conglomerate
horizontal merger
vertical merger
9
Shareholders have limited liability in a corporation.
True
False
10
Mergers are watched carefully by regulators in order to prevent
monopolies
overproduction
another Great Depression
economic booms and busts
