Chapter 9 Econ Alive

Question 1

Which of the following is a reward of entrepreneurship?

Accepted Answer

Developing your own schedule

Question 2

Which of the following is an advantage to partnerships?

Accepted Answer

Specialization

Question 3

Which of the following is NOT a feature of a public limited company?

Accepted Answer

It is owned by the government

Question 4

What are business ethics?

Accepted Answer

things a business should do to please the public

Question 5

What is the process of starting and operating one's own business known as?

Accepted Answer

Entrepreneurship

Question 6

Which of the following is not an advantage to sole proprietorship?

Accepted Answer

Unlimited liability

Question 7

Which economic principle most applies to starting a business

Accepted Answer

incentives matter

Question 8

Which of the following is a disadvantage of a corporation?

Accepted Answer

Loss of control

Question 9

Venture capitalists invest in a business for

Accepted Answer

ownership shares

Question 10

Which of the following describes a business that is established to support a public goal?

Accepted Answer

Nonprofit organization

Question 11

Which phrase describes a parent company with many outlets?

Accepted Answer

Business franchise

Question 12

Which source of finance cannot be used by a private company?

Accepted Answer

An issue of shares on the stock exchange

Question 13

What is necessary for a company to be classified as multi-national?

Accepted Answer

It produces some of its output in different countries

Question 14

Which type of business organization is most common?

Accepted Answer

sole proprietorship

Question 15

The process by which people around the world are becoming increasingly interconnected is called

Accepted Answer

globalization.

Question 16

How many businesses usually fail after five years of being in business?

Accepted Answer

54%

Questions 16