Topic
Q:
A business that is completely controlled by a single owner who receives all of
the profits is a
A. corporation
B. partnership
C. limited liability company
D. sole pronrietorshin
Q:
Product A and Product B are complementary products. Which situation would
lead to an increase in demand for Product B?
A. Demand for Product A decreases.
B. Demand for Product A increases.
C. Supply of Product A increases.
D. Supply of Product A decreases.
Q:
What is one major disadvantage of setting up a business as a corporation?
A. Corporations require one person to make all important decisions.
B. Corporations are generally unable to raise large amounts of
capital.
C. Corporations make individual shareholders accountable for all
debts.
D. Corporations are subject to more regulations than other
businesses.
Q:
The law of supply states that:
A. rising interest rates lead to rising supply of a product.
B. falling prices lead to rising supply of a product.
C. rising prices lead to rising supply of a product.
D. falling interest rates lead to rising supply of a product.
Q:
Which business structure has the least access to capital and resources?
A. Partnership
B. Corporation
c. Sole proprietorship
D. Limited liability company
Q:
Which organization best represents a sole proprietorship?
A. A software firm that raises funds by selling stock to investors
B. A pair of friends who co-own a barbershop they founded
C. A chef who owns and operates a food truck by herself
D. A group of volunteers who work at a local food bank
Q:
One difference between a sole proprietorship and a partnership is that a
partnership:
A. has fewer investors and stockholders.
B. gives greater control to its founder.
C. has a longer legal life span as a business.
D. divides profits among several owners.
Q:
32. Producers' Surplus Suppose the supply function for concrete is
given by
\[ S(q)=100+3 q^{3 / 2}+q^{5 / 2} \text {, } \]
and that supply and demand are in equilibrium at \( q=9 \). Find the
producers' surplus.
33. Consumers' Surplus Find the consumers' surplus if the demand
function for grass seed is given by
\[ D(q)=\frac{200}{(3 q+1)^{2}}, \]
assuming supply and demand are in equilibrium at \( q=3 \).
34. Consumers' Surplus Find the consumers' surplus if the demand
function for extra virgin olive oil is given by
\[ D(q)=\frac{32,000}{(2 q+8)^{3}} \text {, } \]
and if supply and demand are in equilibrium at \( q=6 \).
Q:
5 The farmer invests R53 900 for 3 years at an interest rate of \( 7 \% \) per year.
Calculate how much will he receive after 3 years?
Q:
QUESTION 4
4.1 Accounting equation
Analyse the following transactions according to the table on the answer sheet,
e.g. Buy trading stock, R3 500 .
4.1.1 \( \quad \) Cash sales according to the cash register roll, R1 500 (cost price R800) (8)
4.1.2 Buy packaging material on credit, R890.
4.1.3 \( \quad \) The owner takes R 1000 out of the businesses bank account for
4.1.4 Pay the weekly wages per EFT 9, R2 250 .
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