Economic questions

6. A typical example of a sole proprietorship would include [A] Steel Company of Canada [B] United Electrical Workers [C] Bell Canada [D] John's Variety Store 7. Which type of business organization would you expect to put the least emphasis on making a profit? [A] a corporation [B] a sole proprietorship [C] a partnership [D] a co-operative 8. If the S&PITSX Composite Index was quoted as dropping 15 points, it would mean that [A] the Texas Direct Exchange was down 15 basis points [B] on average, stocks on the Toronto Stock Exchange fell 15 basis points [C] the Tokyo Standard Index was dropping more than normal [D] the economy was heading into a recession 9. Arrange the order of the following market structures from most competitive to least competitive: (1) monopolistic competition; (2) oligopoly; (3) monopoly; (4) pure competition [A] 1, 2, 3, 4 [B] 2, 1, 3, 4 [C] 3, 2, 1, 4 [D] 4, 1, 2, 3 10. Which of the following would most likely be a fixed cost for a manufacturing business? [A] hydro [B] rent [C] raw materials [D] wages 11. Which of the following would most likely be a variable cost for a manufacturing business? [A] rent [B] labour [C] insurance premiums [Til nrnnprrv roam