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Mic9: Price ceiling/floors, Legal forms of business
By Jeffrey See
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Last updated about 6 years ago
5 questions
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Question 1
1.
Take each statement below and correctly place it under
price ceiling
or
price floor
.
Farm products
Maximum legal price
Shortage
Minimum wage
Surplus
Minimum legal price
Rent control
Price ceiling
Price floor
Question 2
2.
Based on the pie charts above which
legal form of business
is most common numerically?
Sole proprietorships
Partnerships
Corporations
Question 3
3.
Based on the pie charts above which
legal form of business
generates the most sales and net income (profits)?
Sole proprietorships
Corporations
Partnerships
Question 4
4.
Which
legal form of business
has the disadvantages of unlimited liability and limited life?
Sole proprietorships and Partnerships
Sole proprietorships, Partnerships, and Corporations
Sole proprietorships and Corporations
Partnerships and Corporations
Question 5
5.
Which
legal form of business
has the disadvantages of increased government regulation and double taxation?
Sole proprietorships
Partnerships and Corporations
Corporations
Partnerships
