1.
Something with separate existence.
A. 
B. 
C. 
D. 
2.
A business that is owned by shareholders and that operates separately from its owners.
A. 
B. 
C. 
D. 
3.
A type of partnership in which the liability and involvement of certain partners is limited.
A. 
B. 
C. 
D. 
4.
Partners share equal responsibility for debts and all have unlimited liability.
A. 
B. 
C. 
D. 
5.
A binding promise, contract, sense of duty, etc.
A. 
B. 
C. 
D. 
6.
Involves two or more people who become responsible for debts, obligations and success of a business.
A. 
B. 
C. 
D. 
7.
Something owed.
A. 
B. 
C. 
D. 
8.
Moneys owed; debts.
A. 
B. 
C. 
D. 
9.
You, as an individual, are responsible for business debts and your personal property can be used as repayment.
A. 
B. 
C. 
D. 
10.
A business that is owned and operated by one person.
A. 
B. 
C. 
D. 
11.
The company whose products the franchisee will sell.
A. 
B. 
C. 
D. 
12.
The person or group who buys the franchise.
A. 
B. 
C. 
D. 
13.
A written contract granting permission to sell someone else’s product or service in a prescribed manner over a certain period of time and in a specified territory.
A. 
B. 
C. 
D. 
14.
A document that describes the important characteristics of a business: including the type of business, its products, the industry, a marketing plan, the manner of operation and the financial information.
A. 
B. 
C. 
D. 
15.
An economy that is largely based on the trade information and the management of the tools used to distribute that information.
A. 
B. 
C. 
Interdepartmental Economy
D. 
16.
The freedom, equality, and opportunity available to all Americans.
A. 
B. 
C. 
D. 
17.
Laws that are designed to promote competition and fairness and to prevent monopolies and other unfair business practices.
A. 
B. 
C. 
D. 
18.
A system in which most economic resources are privately owned and individuals are free to decide what they will produce with the resources.
A. 
B. 
C. 
D. 
19.
Readiness to undertake something on one’s own.
A. 
B. 
C. 
D. 
20.
Risk or take a chance on.
A. 
B. 
C. 
D. 
21.
A reaction or response to a particular process or activity.
A. 
B. 
C. 
D. 
22.
Involving or existing between two or more departments.
A. 
B. 
C. 
D. 
23.
One who organizes the start-up of a new venture and takes the risks necessary to start a business.
A. 
B. 
C. 
D. 
24.
They don’t allow enough time to complete tasks and end up feeling negative and guilty and avoiding future tasks.
A. 
B. 
C. 
D. 
25.
Entrepreneurs as a group have enormous influential power in political lobbying, purchasing and shaping their communities.