© 2012 best teacher resources a b c d e f 1 234 5 6 7 ??????? ??????? ??????? ??????? ???????...

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Page 1: © 2012 Best Teacher Resources A B C D E F 1 234 5 6 7 ??????? ??????? ??????? ??????? ??????? ???????

© 2012 Best Teacher Resources

Page 2: © 2012 Best Teacher Resources A B C D E F 1 234 5 6 7 ??????? ??????? ??????? ??????? ??????? ???????

A

B

C

D

E

F

1 2 3 4 5 6 7

? ? ? ? ? ? ?

? ? ? ? ? ? ?

? ? ? ? ? ? ?

? ? ? ? ? ? ?

? ? ? ? ? ? ?

? ? ? ? ? ? ?

© 2012 Best Teacher Resources

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Money needed to start or expand a business.

Financial Capital or Business Nest Egg?

Question A1

© 2012© 2012 Best Teacher Resources

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Question A2

© 2012

The process of turning an invention into a marketable product.

Discovery or Innovation?

© 2012 Best Teacher Resources

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Question A3

© 2012

The simplest form of business ownership where a firm is owned and managed by a single individual.Sole Proprietorship or Individual Corporation?

© 2012 Best Teacher Resources

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Question A4

© 2012

The legal obligation to pay any debts of a business.

Liability or Legal Debt?

© 2012 Best Teacher Resources

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Question A5Two or more individuals who agree to contribute resources to a business in return for a share of the profit.Dual Ownership or Partnership?

© 2012 Best Teacher Resources

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Question A6

© 2012

The most common type of partnership where partners share both in the responsibility for running the business and in any liability from the operation.

General Partnership or Common Partnership?

© 2012 Best Teacher Resources

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Question A7

© 2012

A partnership where at least one partner is required to be a general partner.

Unlimited Partnership or Limited Partnership?

© 2012 Best Teacher Resources

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Question B1

© 2012

A legal entity with an existence that is distinct from the people who organize it, own it, and run it.Corporation or Partnership?

© 2012 Best Teacher Resources

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Question B2

© 2012

A written application to a state seeking permission to form a corporation.

Business License or Articles of Incorporation?

© 2012 Best Teacher Resources

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Question B3

© 2012

A corporation that issues stock to just a few people, sometimes only family members.

Limited Stock Corporation or Private Corporation?

© 2012 Best Teacher Resources

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Question B4

© 2012

A corporation that has many shareholders who can buy or sell shares of stock.

Common Corporation or Publicly Traded Corporation?

© 2012 Best Teacher Resources

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Question B5

© 2012

A type of corporation that combines limited liability protection of the corporation with the single taxation feature of a partnership. Must have no more than 75 stockholders with no foreign stockholders.

S Corporation or Limited Liability Corporation?

© 2012 Best Teacher Resources

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Question B6

© 2012

Business with limited liability for some owners, single taxation of business income, and no ownership restrictions.

S Corporation or Limited Liability Corporation (LLC)?

© 2012 Best Teacher Resources

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Question B7

© 2012

Like a limited liability company but more easily converted from an existing partnership.

Limited Liability Partnerships (LLP) or Convertible Partnership?

© 2012 Best Teacher Resources

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Question C1

© 2012

An organization consisting of people who pool their resources to buy and sell more efficiently than they could independently.

Company Employee Pool or Cooperative?

© 2012 Best Teacher Resources

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Question C2

© 2012

Groups that do not pursue profit as a goal; they engage in charitable, educational, humanitarian, cultural, professional activities, often with a social purpose.

Not-for-profit Organizations or Social Cause Organizations?

© 2012 Best Teacher Resources

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Question C3

© 2012

The demand for a resource that arises from the demand for the product that resource produces.

Resource Demand or Derived Demand?

© 2012 Best Teacher Resources

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Question C4

© 2012

The value of output produced by a resource.

Productivity or Generated Product?

© 2012 Best Teacher Resources

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Question C5

© 2012

The wage at which the quantity of labor firms want to hire exactly matches the quantity workers want to supply.

Balanced Wage or Equilibrium Wage?

© 2012 Best Teacher Resources

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Question C6

© 2012

One resource can replace another in production; an increase in the price of one resource increases the demand for the other.Fluctuating Resources or Resource Substitutes?

© 2012 Best Teacher Resources

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Question C7

© 2012

One resource works with the other in production; a decrease in the price of one increases the demand for the other.Demand Resource or Resource Complements?

© 2012 Best Teacher Resources

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Question D1Establishes a minimum amount that an employer can pay a worker for an hour of labor

Minimum Wage Law or Right to Wages Law?

© 2012 Best Teacher Resources

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Question D2A group of workers who join together to seek higher pay and better working conditions by negotiating a labor contract with their employers.Labor Union or Organized Labor Staff?

© 2012 Best Teacher Resources

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Question D3State law that says a worker at a union company does not have to join the union or pay union dues to hold a job there.

Right-to-work Law or Law of Union Dues?

© 2012 Best Teacher Resources

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Question D4

© 2012

The process by which representatives of the union and the employer negotiate wages, employee benefits, and working conditions.

Collective Bargaining or Negotiated Union Process?

© 2012 Best Teacher Resources

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Question D5

© 2012

An impartial observer brought in when labor negotiations break down, to suggest how to resolve differences.

Corporate Negotiator or Mediator?

© 2012 Best Teacher Resources

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Question D6

© 2012

When labor negotiations break down and the public interest is involved, a neutral third party is brought in to impose a settlement that both sides must accept.Binding Arbitration or Legal Settlement?

© 2012 Best Teacher Resources

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Question D7

© 2012

A labor union’s attempt to withhold labor from the firm.

Walk Out or Strike?

© 2012 Best Teacher Resources

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Question E1

© 2012

Union efforts to force employers to hire more workers than demanded for the task.Stacking or Featherbedding?

© 2012 Best Teacher Resources

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Question E2Annual interest expressed as a percentage of the amount borrowed or saved.Interest Rate or Borrowed Percent?

© 2012 Best Teacher Resources

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Question E3

© 2012

A downward sloping curve showing the negative relationship between the interest rate and the quantity of loans demanded.

Demand for Loans Curve or Negative Correlation Curve?

© 2012 Best Teacher Resources

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Question E4

© 2012

An upward sloping curve showing the positive relationship between the interest rate and the quantity of loans supplied.

Relative Interest Curve or Supply of Loans Curve?

© 2012 Best Teacher Resources

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Question E5

© 2012

The market that brings together borrowers and savers to determine the market interest rate.

Market for Loans or Market for Goods?

© 2012 Best Teacher Resources

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Question E6The only interest rate at which the quantity of loans demanded equals the quantity of loans supplied.

Balanced Interest Rate or Equilibrium Interest Rate?

© 2012 Best Teacher Resources

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Question E7Banks and other institutions that serve as go-betweens, accepting funds from savers, and lending them to borrowers.

Financial Intermediaries or Consultants?

© 2012 Best Teacher Resources

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Question F1

© 2012

The ability to borrow now, based on the promise of repayment in the future.

Credit or Trustworthiness?

© 2012 Best Teacher Resources

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Question F2

© 2012

An arrangement with a bank through which a business can quickly borrow needed cash.

Emergency Stash or Line of Credit?

© 2012 Best Teacher Resources

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Question F3

© 2012

The interest rate lenders charge for loans to their most trustworthy business borrowers.

Borrowers Rate or Prime Rate?

© 2012 Best Teacher Resources

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Question F4

© 2012

An asset owned by the borrower that can be sold to pay off the loan in the event the loan is not repaid.

Collateral or Liquid Assets?

© 2012 Best Teacher Resources

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Question F5

© 2012

F5 - The initial sale of corporate stock to the public.

Base Line Offering or Initial Public Offering (IPO)?

© 2012 Best Teacher Resources

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Question F6

© 2012

That portion of after-tax corporate profit paid out to shareholders.

Share or Dividend?

© 2012 Best Teacher Resources

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Question F7

© 2012

That portion of after-tax corporate profit that is reinvested in the firm.

Retained Earnings or Reinvestment Earnings?

© 2012 Best Teacher Resources