Please enter something
Home Page Social Science Business Flashcards and Answers - Chapter 8 Economics Study Guide

Flashcards and Answers – Chapter 8 Economics Study Guide

Livia Baldwin
19 October 2020
17 test answers

Unlock all answers in this set

Unlock answers 17
question
What percentage of all businesses in the US are Sole Proprietorships?
answer
75%
question
Who is responsible for debt if a partnership fails? (3 different answers)
answer
General Partnership- Equal responsibility Limited Partnership- 1 person has limited liability Limited Liability Partnership- Everyone has liability
question
What type of merger involves 2 or more businesses producing the same good?
answer
Horizontal merger
question
What is the difference between a corporation compared to other businesses?
answer
Owners and workers are separate within a corporation
question
Define Royalties
answer
The percentage of earnings paid for a franchise
Unlock the answer
question
What is a fringe benefit?
answer
Benefits received other than wages or salary Example: paid vacation, health insurance, etc.
Unlock the answer
question
Name the disadvantages of a Sole Proprietorship
answer
Unlimited liability, Limited access to resources, Lack of permanence
Unlock the answer
question
What are assets?
answer
Money and other valuables in a business
Unlock the answer
question
What is the percentage of US Corporations and the percentage of sales?
answer
20% of US are corporations, 90% of sales come from a corporation
Unlock the answer
question
Dividend
answer
Portion of company profits paid to stockholders
Unlock the answer
question
Zoning Law
answer
Regulations that separate areas for residency/businesses
Unlock the answer
question
Stock
answer
Share of ownership in a corporation
Unlock the answer
question
Liability
answer
Debt
Unlock the answer
question
Business License
answer
A license needed to run a business
Unlock the answer
question
Advantages of a Sole Proprietorship
answer
Easy start up Relatively few regulations Sole receiver of profits Full control Easy to discontinue
Unlock the answer
question
Advantages of a Partnership
answer
Easy start up Shared decision making Larger pool of capital No taxation on business
Unlock the answer
question
Advantages of a Franchise
answer
Management training and support Standardized quality National advertisement programs Financial assistance Centralized buying power
Unlock the answer
Get an explanation on any task
Get unstuck with the help of our AI assistant in seconds
New
Get unstuck with AI assistant right now
  • Enter your topic/question
  • Receive an explanation
Pro tips to get quality response
  • Ask one question at a time
  • Enter a specific assignment topic
  • Aim at least 500 characters
Question
What is the right structure for an essay
Answer
A paragraph is a related group of sentences that develops one main idea. Each paragraph in the body of the essay should contain:
  • a topic sentence that states the main or controlling idea
  • supporting sentences to explain and develop the point you’re making
  • evidence from your reading or an example from the subject area that supports your point
  • analysis of the implication/significance/impact of the evidence finished off with a critical conclusion you have drawn from the evidence.