
Soleproprietorship and Partnership
Presentation
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Other
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10th Grade
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Practice Problem
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Medium
Tech boy
Used 3+ times
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15 Slides • 16 Questions
1
Multiple Choice
What is the basic economic problem?
2
Multiple Choice
What does a consumer's scale of preference represent?
A list of items ranked from cheapest to most expensive
A graphical representation of income levels
The order of importance or preference of goods and services
The government's preference for certain industries
3
Multiple Choice
A new dam is built in Turkey to provide hydroelectric power and a water supply. What is the opportunity cost to the country of building the dam?
The cost of households and businesses of consuming the water supply
The benefits foregone from other uses of the money used to pay for the dam
The cost to consumers of using hydro electric power
The money used to pay for the construction and running of the dam
4
Multiple Choice
How is an immediate effect of an increase in unemployment illustrated in a production possibility curve diagram?
a movement of the production point closer to the curve
a movement of the production point further inside the curve
a shift of the production possibility curve inwards
a shift of the production possibility curve outwards
5
Multiple Choice
If a planned economy becomes a mixed economy, which industry would be most likely to remain under government control?
agriculture
coal mining
defense
motor car production
6
Multiple Choice
The sum of items divided by number of items is the
Frequency
Mean
Median
Mode
7
Multiple Choice
Producers operating in a free market economy are more efficient as a result of?
Existence of competition
The very few number of participants
The commitment of shareholders
Government regulation of their activities
8
Multiple Choice
In recent years more golf courses, which use large quantities of water, have opened in China. What may be the opportunity cost of this?
cost of water
loss of farmland
sales of golf equipment
wages of golf course staff
9
Poll
Are You Ready For 2nd Term!!
Yes
No
10
Multiple Choice
What causes economic agents to make choices?
Limited needs and wants
The existence of finite resources
The existence of free goods
The market mechanism
11
Multiple Choice
A government is faced with the choice of spending on either education or health care. Of what is this an example of?
Conservation of resources
Monetary policy
Opportunity cost
Substitution of factors
12
13
14
15
16
Multiple Choice
What is a primary advantage of a sole proprietorship?
Shared responsibility
Ease of formation
Limited liability
Access to vast capital
17
18
19
20
21
22
23
24
25
Multiple Choice
Which type of partnership involves partners with varying levels of liability?
General partnership
Limited partnership
Limited liability partnership
Joint partnership
26
27
28
29
Multiple Choice
What legal document outlines the terms and conditions of a partnership?
Business contract
Deeds of Partnership
Memorandum of association
Joint venture document
30
Fill in the Blanks
31
Fill in the Blanks
What is the basic economic problem?
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