Review Lesson 4
Directons: Answer each of the questions below.
1. Identify and describe the various types of business ownership. Provide examples of each. Explain the advantages and disadvantages of each.
2. What three institutions influence economics the most? Explain how each influences economics and provide examples of each.
3. If you were a sole proprietor and had annual profits of $100,000, how would the profits be distributed?
4. You are partners with Alice and Mark. You contributed 50% of the capital, Alice contributed 30%, and Mark contributed 20%.
(a) How would the annual profits of $100,000 be distributed among all three of you?
(b) Using these same numbers, how would an annual loss of $80,000 be distributed between the three of you?
5. Conduct internet research to discover the three biggest threats to each type of business institutions today. Report your findings in short essay form.
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