Unit #1 Test - Review

If I own an Apple product I am considered a ________

A company will become a corporation to

If a country has high unemployment its economy is probably doing

The Government contributes to the economy by providing us with

Things that YOU believe are important in life are

This is when the owner is responsible for all the company's debts

A business has a responsibility to be responsible towards who?

People with low or no income can receive money from

What type of business is Ford

A store, a farmer's market, or Ebay are all examples of

A corporation is owned by

The place where supply and demand meet on a graph is called

Rules that YOU use to decide what is right or wrong in the world are

Rules that society believes people should follow are

This is an advantage of running a sole proprietorship

Partnerships must have this before starting a business together

If I am an employee of Apple I am considered a _______

An advantage of a partnership is...

A hairdresser is an example of this

What is NOT a type of business ownership

As the price of a product increases, demand for the product will

Which of the following does NOT contribute to an economy

What type of business is a Ford dealership?

As the price of something decreases, demand will

If there is more supply of milk than people demand there will be a

As the price of a product increases, the supply made available will