SOLE PROPRIETORSHIPS

ECONOMICS
MR. SCHEEL

1. What is so unique about a sole proprietorship?

2. What types of businesses or enterprises are generally run as sole proprietorships?

3. List the three main benefits from running a sole proprietorship.

4. Why are sole proprietorships so easy to form?

5. Explain how the government and law can restrict sole proprietorships.

6. Define zoning laws.

7. Describe the benefits of control over a sole proprietorship.

8. Describe the significance of profit to the sole proprietor.

9. List the key disadvantages of sole proprietorships.

10. What are the potential risks of unlimited liability?

11. Explain why sole responsibility is such a burden on a sole proprietor.

12. Why is growth difficult with sole proprietorships?

13. Why are sole proprietorships lives typically short lived?

14. Look at the pie chart on p. 145, turn it into a bar graph.