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A Few More Basic Business Facts
Test Description: Review the introductory business facts studied in class.
Instructions: Answer all questions to get your test result.
1) What is an action someone does for another person or to another person?
A
A product
B
A service
C
A need or want
D
A goal
2) When something is tangible, durable & used, what is it characterizing?
A
A business
B
A product
C
A need
D
A service
3) What is it considered when businesses plan to make money or help the community?
A
It is when a business fulfills a need or a want
B
It is the product or service the business offers
C
It is the profit a business earns
D
It is the goal of the business
4) What is the word that means to make money?
A
Monetary Gains
B
Benefit
C
Capital Gains
D
Profit
5) An organization offering products or services for sale that consumers need or want is...
A
A manufacturer
B
A business
C
A producer
D
A consumer
6) What is a pedicure an example of?
A
A Product
B
A Service
C
A Good
D
An action
7) What is the word that means you can touch it?
A
Tangible
B
Immediate
C
Durable
D
Intangible
8) What is another word that means goods?
A
Products
B
Manufacturers
C
Customers
D
Consumer
9) Who is a consumer?
A
A company that offers a service
B
A person who buys products or services
C
A manufacturer of products
D
A company that sells products
10) What is a computer an example of?
A
An intangible object
B
A product
C
A service
D
An action
*select an answer for all questions
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