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Business Ownership/Econ Flow Flashcards | StudBud
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Business Ownership/Econ Flow
Business Ownership/Econ Flow
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1
Which type of business acts as a legal person regardless of the number of owners?
corporation
proprietorship
monopoly
partnership
2
A person who takes a risk to produce goods & services in search of profit is
a consumer
a candidate
an entrepreneur
a government official
3
Which type of business has 2 or more owners & the owners share risks/profits.
monopoly
partnership
corporation
proprietorship
4
Which one of the following people is an entrepreneur?
the president
an Olympic athlete
a restaurant owner
your teacher
5
What are the 3 basic ways that American businesses organize to earn profits?
local, state, or federal levels
entrepreneurship, seller, or manufacturer
corporation, partnership, or proprietorship
free market, command market, or mixed market
