Give one advantage of forming a business as a corporation

Reference no: EM13198520

1. "Right to work" laws generally make union shops illegal.

True
False

2. Monopolistic competition is characterized by all of the following EXCEPT:
a single seller dominates the market
differentiated products
sellers have only slight control over price
nonprice competition

3. A consumer's tendency to substitute a lower-priced product for a similar, higher-priced one is called the ________.
law of diminishing marginal utility
real income effect
elasticity of demand
substitution effect

4. One advantage of forming a business as a corporation is:
the business is subject to less taxes and fewer government regulations
limited liability
management can make quick decisions
individual stockholders can influence daily business

5. The owners of preferred stock sacrifice their voting rights for the potential of higher earnings and lower risk.
True
False

6. Price has a direct relationship with:
supply
labor
costs of production
demand

7. Price has an inverse relationship with:
supply
labor
costs of production
demand

8. A shift to the left in the demand curve indicates:
increase in population
decrease in demand
increase in demand
decrease in price

9. A price ceiling is:
the lowest price producers can hope to charge for their goods
the highest price at which a good can be sold before making a profit
a government-imposed maximum price on a particular good or service
twice the equilibrium price

10. According to the Law of Supply:
as the price of a good rises, supply increases
as the price of a good falls, supply increases
as the price of a good rises, supply decreases
as the price of a good falls, supply remains constant

Reference no: EM13198520

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