5 Written Questions

1. by paying interest on deposits
2. - to obtain goods and services they cannot produce
   - to obtain goods and services they cannot produce efficiently
   - to seel goods and services
   - to create jobs
3. form of business organization with one owner who takes all the risks and all the profits
4. make products
5. 
   - banks
   - savings and loans
   - credit unions

5 Matching Questions

1. entrepreneur
2. Why do Virginia and the United States pursue international trade
3. Government uses tax revenue to -
4. In the circular flow, businesses use their profits to -
5. innovations in technology

1. a buy more resources
2. b person who takes a risk to produce goods and services in search of profit
3. c contribute to the global flow of information, capital, goods and services
4. d provide public goods and services
5. e
   to increase wealth

5 Multiple Choice Questions

1. - proprietorship
   - partnership
   - corporation
   1. types of business ownership
   2. using technology lowers -
   3. proprietorship
   4. partnership
2. form of business organization with two or more owners whi share the risks and the profits
   1. proprietorship
   2. entrepreneur
   3. partnership
   4. corporation
3. worldwide markets in which the buying and selling of goods and services by all nations takes place
   1. proprietorship
   2. corporation
   3. entrepreneur
   4. global economy
4. 
   purchase products
   1. In the circular flow, businesses buy resources to -
   2. In the circular flow, individuals own -
   3. In the circular flow, individuals use their income to -
   4. In the circular flow, businesses use their profits to -
5. private financial institutions
   1. why states and nations trade
   2. In the circular flow, individuals own -
   3. types of business ownership
   4. These act as intermediaries between savers and borrowers

5 True/False Questions

1. using technology lowers - → the cost of production

   True        False

2. corporation → form of business organization with two or more owners whi share the risks and the profits

   True        False

3. In the circular flow, individuals own - →
   purchase products

   True        False

4. In a corporation, owner liability is limited to - → investment

   True        False

5. An innovation in technology that contributes to the global flow of information → Internet

   True        False