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Economics Chapter 3 Review Flashcards | StudBud
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Economics Chapter 3 Review
Economics Chapter 3 Review
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chapter 3 review
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
A court-granted permission to an individual or business to cease or delay debt payments
Installment
Tax Relief
Bankruptcy
Dividend
2
The price paid for the use of other peoples money
Interest
Thank you money
Loan amount
Tax
3
A disadvantage of a sole proprietorship...
Owner enjoys the profits
Limited Life
Ease of management
Ease of startup
4
Grouping of several businesses
Labor Union
Limited Partnership
Conglomerate
Corporation
5
A disadvantage to a corporation
Ease of Startup
ease of raising financial capital
limited liability for its owners
difficulty of startup
6
Business that also operate overseas
Sole Prorietorship
Board of Directors
Multinational
Non-Profit
7
Business set up to fix a social wrong
Stock
Labor Union
Corporation
Non-Profit
8
Organization setup to help represent workers
Social Security
Labor Union
Social Security
Workers aid
9
Business run by two people
Corporation
Conglomerate
Sole Proprietorship
Partnership
10
A disadvantage of a partnership is...
easier to attract top talent
ease of startup
lack of special taxes
each partner is fully responsible for each others actions
11
Non-Profit organization sponsored by local businesses to provide info on companies
Helping Hand
yellow pages
Public Utilities
Better Business Bureau
12
Business that becomes its own legal identity
Stock
Corporation
Partnership
Sole Proprietorship
13
Buying a portion of a company
Limited Partnership
Conglomerate
Labor Union
Stock
14
Group that runs a corporation
Partnership
Limited Partnership
Board of Directors
Labor Union
15
Things such as water or electric services
Chamber of Commerce
Public Utilities
DTE
Power Company
16
a combination of two or more businesses to form a single firm
Group organization
Partnership
Union
Merger
17
Buying into a business with limited liability
Corporation
Partnership
Limited Partnership
Conglomerate
18
Which one is NOT an advantage of a sole proprietorship
does not have to pay separate business taxes
ease of startup
owner enjoys the profits
Unlimited liability
19
Business owned by one person or family
Corporation
Sole Proprietorship
Conglomerate
Board Of Directors
20
Organization formed to protect worker’s rights
Labor union
Non-Profit
sole propreitorship
Corporation
