E-Commerce

Chapter 7: Business Structures and Economics in E-Commerce

Chapter Practice Tests

Select the best answer for the questions below.

1
A business owned and operated by one person is called a ______.
A)limited partnership
B)corporation
C)basic partnership
D)sole proprietorship
2
In a ______, all partners do not have equal rights.
A)limited partnership
B)corporation
C)basic partnership
D)sole proprietorship
3
A _____ is considered an entity all its own.
A)stockholder
B)corporation
C)share of stock
D)sole proprietorship
4
A person who owns part of a corporation is called a _____.
A)director
B)board member
C)stockholder
D)basic partner
5
The units of ownership held by a stockholder are called _____.
A)shares
B)stocks
C)corporations
D)IPOs
6
The first sale of a company's stocks is called a(n) _____.
A)first share
B)IPO
C)initial share
D)original stock
7
A group of people elected by the stockholders to keep an eye on the management team of a corporation is called the _____.
A)basic partnership
B)stockholder group
C)limited liability group
D)board of directors
8
In a _____, buyers and sellers interact with one another to exchange goods, services and money.
A)socialist economy
B)market economy
C)planned economy
D)demand economy
9
The relationship between the amount of a good or service available and how much people are willing to pay for it is called _____.
A)supply and demand
B)elastic demand
C)federalism
D)inflation
10
The rise in the cost of consumer goods is called _____.
A)supply and demand
B)elastic demand
C)economic growth
D)inflation
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