Test Two: American Business
Study all of your vocabulary words
Be able to label the business cycle
1. Sole Proprietorship- definition
advantage
disadvantage
2. Partnership- definition
advantage
disadvantage
3. Corporation- definition
advantage
disadvantage
4 What is the difference between a general partnership and a limited partnership?
5. What is a public good? What is a private good?
6. Who is considered unemployed?
7. What is the Sherman Anti-Trust act? What did it do?
8. What is the difference between a natural monopoly and a regular monopoly?
9. What is a right to work state?
10. What is a closed shop system?
11. Why do corporations have lower prices than small businesses?
12. What are pieces of a corporation called?
13. Who runs a corporation? How do they get into power?
14. What is the point of a labor union?
15. What is the purpose of NAFTA?
16. What are some of the advantages to NAFTA?
17. What are some disadvangages to NAFTA?
Study all of your vocabulary words
Be able to label the business cycle
1. Sole Proprietorship- definition
advantage
disadvantage
2. Partnership- definition
advantage
disadvantage
3. Corporation- definition
advantage
disadvantage
4 What is the difference between a general partnership and a limited partnership?
5. What is a public good? What is a private good?
6. Who is considered unemployed?
7. What is the Sherman Anti-Trust act? What did it do?
8. What is the difference between a natural monopoly and a regular monopoly?
9. What is a right to work state?
10. What is a closed shop system?
11. Why do corporations have lower prices than small businesses?
12. What are pieces of a corporation called?
13. Who runs a corporation? How do they get into power?
14. What is the point of a labor union?
15. What is the purpose of NAFTA?
16. What are some of the advantages to NAFTA?
17. What are some disadvangages to NAFTA?