Are monopolies a good idea?

No, because there is no competition

Define a command economy

The government controls all production and prices

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Financial Foundations Unit 4 Exam

18 termsStudBud Administration44 plays

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Questions 18

Answers

1
A Share means a partial ownership in a corpration?
False
True
2
Circular flow shows what types of transactions?
Time/Labor
Money
Resources
All the above
3
Which type of business organization has limited liability?
Sole proprietorship
Partnership
Corporation
Sole Corporation
4
Who controls what is produced in a command economy?
People
People, business and Government
Government
Business
5
Which type of business organization has stockholders?
Sole proprietorship
Corporation
Sole Corporation
Partnership
6
Countries and economists want GDP to?
Equal the rate of growth
Stay the same
Go down
Go up
7
What type of economy is the US?
Traditional
Command
Market
Mixed
8
What type of competition is the government completely not involved in?
Monopolistic
Perfect Pure
Perfect
Oligopoly
9
Which type of business organization has one owner?
Partnership
Sole proprietorship
Sole Corporation
Corporation
10
Are monopolies a good idea?
No, because people won't work
Yes, so prices will be high
Yes, so we will be the best country
No, because there is no competition
11
Why do we need competition?
larger variety
lower prices
all the above
higher quality products
12
What is one advantage of making a business a partnership?
Less liability
Less knowledge in various areas
Less money
Additional capital
13
Which type of competition has no substitutes?
Perfect
Monopoly
Monopolistic
Oligopoly
14
What does GDP stand for?
Great Product Divide
Gross Direct Product
Great Depression Presents
Gross Domestic Product
15
What is one disadvantage to forming a corporation?
Double taxation
All the above
Less Control
Cost
16
Define a command economy
The government controls all production and prices
The government controls none of the production or prices
Citizens control all production and prices
Businesses control all production and prices
17
What is one advantage to forming a corporation?
All the above
Raising capital
Tax advantages
Limited liability
18
What makes the persistent market situation where there is only one provider of a service or product?
Perfect
Monopolistic
Monopoly
Oligopoly

Financial Foundations Unit 4 Exam Flashcards | StudBud

Financial Foundations Unit 4 Exam

18 termsStudBud Administration44 plays

Imported from external platform

Flashcards18 cardsFPractice quizPHost liveL

Questions 18

Answers

1
A Share means a partial ownership in a corpration?
False
True
2
Circular flow shows what types of transactions?
Time/Labor
Money
Resources
All the above
3
Which type of business organization has limited liability?
Sole proprietorship
Partnership
Corporation
Sole Corporation
4
Who controls what is produced in a command economy?
People
People, business and Government
Government
Business
5
Which type of business organization has stockholders?
Sole proprietorship
Corporation
Sole Corporation
Partnership
6
Countries and economists want GDP to?
Equal the rate of growth
Stay the same
Go down
Go up
7
What type of economy is the US?
Traditional
Command
Market
Mixed
8
What type of competition is the government completely not involved in?
Monopolistic
Perfect Pure
Perfect
Oligopoly
9
Which type of business organization has one owner?
Partnership
Sole proprietorship
Sole Corporation
Corporation
10
Are monopolies a good idea?
No, because people won't work
Yes, so prices will be high
Yes, so we will be the best country
No, because there is no competition
11
Why do we need competition?
larger variety
lower prices
all the above
higher quality products
12
What is one advantage of making a business a partnership?
Less liability
Less knowledge in various areas
Less money
Additional capital
13
Which type of competition has no substitutes?
Perfect
Monopoly
Monopolistic
Oligopoly
14
What does GDP stand for?
Great Product Divide
Gross Direct Product
Great Depression Presents
Gross Domestic Product
15
What is one disadvantage to forming a corporation?
Double taxation
All the above
Less Control
Cost
16
Define a command economy
The government controls all production and prices
The government controls none of the production or prices
Citizens control all production and prices
Businesses control all production and prices
17
What is one advantage to forming a corporation?
All the above
Raising capital
Tax advantages
Limited liability
18
What makes the persistent market situation where there is only one provider of a service or product?
Perfect
Monopolistic
Monopoly
Oligopoly