261. When a business has multiple absentee owners with limited liability it is a_____________?
A. partnership
B. proprietorship
C. trust
D. corporation

262. Which status is in transition and difficult to classify in corporate relationships ?
A. Foreman
B. Union official
C. Stock holder
D. CEO

263. Extraction of raw materials occurs in which sector of the economy ?
A. Primary
B. Secondary
C. Tertiary
D. Quaternary

264. Some of the advantages of a market economy include ?
A. all participants get some satisfaction
B. scarce resources are put into goods that are in demand
C. economic output is distributed to those who can pay the price
D. all of the above

265. The foremost advantage of a corporation is its_____________?
A. ability to accumulate vast amounts of capital in a short time
B. capacity for protracted periods of employment
C. ability to profit from the labor of its employees
D. necessity to exhibit the latest technology

266. The numbers of PACs ?
A. doubled since 1974
B. tripled since 1074
C. quadrupled since 1974
D. increased nearly sevenfold since 1974

267. The main problem facing societies with a surplus is_____________________?
A. how to get rid of it
B. what to produce how produce it and for whom to produce it
C. there is no problem it is divided equally
D. how to keep it away from enemies

268. Which economic orientations govern Western industrial societies ?
A. Tradition
B. Command
C. Free Market
D. BOTH market and command

269. Efficiency in economic terminology means________________?
A. using existing technology
B. obtaining the highest output in the least amount of time
C. ignoring the time factor
D. making do with as few workers as possible

270. Specialized division of labor in industrial societies can make workers feel that they_______________?
A. have lack of control
B. have no sense of accomplishment
C. are an anonymous group
D. all of the above

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