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5 Written Questions

5 Matching Questions

  1. Money must be DIVISIBLE
  2. Fiat Money
  3. Market Economy
  4. Legal entity
  5. Travelor's checks
  1. a It must be easy to break money into smaller units
  2. b The object used for money is valuable because the government says so

    Example: Cash
  3. c A corporation is treated as an individual person
    A corporation can:
    -own property
    -make contracts
    -sell stocks & issue bonds
    -make & sell products
    -make a profit
    -pay taxes
    -sue others or be sued
  4. d A special kind of check that represents money in a bank or large company. They are sold for face value with an extra fee, but they will be replaced if lost or stolen
  5. e Also called capitalism
    Result of many people's buying and selling decisions. This type of economy is not run by anyone, it runs itself.
    People are free to buy and sell what they please

5 Multiple Choice Questions

  1. The object used for money stands for something else that has value

    Examples: Checks
  2. People use money to measure the value of something
  3. A business owned by 2 or more people.
    -10% of today's businesses are partnerships
    -There are 2 types of partnerships
    1) General partnerships - each partner makes decisions and is legally responsible
    2) Limited partnerships - some partner does not make decisions and is not legally responsible

    Partnerships used to be sole proprietorships
  4. Shares of a company's profits paid to stock holders 2-4 times a year.

    *This is one way to make money from investing in stocks
  5. A business owned by a group of investors.
    -20% of today's businesses are corporations & they are the largest type of business
    -Corporations are treated as a legal entitty and must get a charter from the state in order to be incorporated

5 True/False Questions

  1. SpeculationGuessing the price of stock prices


  2. Capital gainFather of Communism
    Wanted a command economy that would favor workers, not rulers. All property would be jointly owned by all people. Everyone would be equal in power, wealth, and rights.


  3. BondShares of ownership in a corporation


  4. Bear MarketThe DOW is down which signals that the stock market is weak


  5. CollateralA license to become a corporation


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