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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 the meaning of product?
A
An object that people buy to use
B
It is tangible durable
C
An action someone does for you or to you
D
Computer, table chair
2) What are the characteristics of services?
A
Intangible, do not last a long time used immediately
B
Intangible, durable used immediately
C
Tangible, do not last a long time used immediately
D
Intangible, last a long time used over a long time
3) What does intangible mean?
A
It is an action
B
It can be touched
C
It cannot be touched
D
It is durable
4) What is the difference between a need a want?
A
A need is necessary for survival a want is not but it makes life more pleasurable
B
A need makes life more pleasurable a want is necessary for survival
C
A need is not necessary to survive but a want is it makes life more enjoyable
D
Nothing, they are both the same
5) What is the reason for businesses to exist?
A
To fulfill the wants of consumers
B
To fulfill the needs of consumers
C
To fulfill the needs or wants of consumers
D
To make consumers lives better
6) What is a want?
A
An item that adds pleasure to life but is not necessary for survival
B
An item that fulfills people’s desires
C
An item that is necessary for creating products
D
An item that adds pleasure to life is necessary for survival
7) What is a need?
A
Items that make people’s lives more comfortable
B
Items not necessary for survive
C
Food, water clothing that are necessary for survival
D
Desires people have
8) What is the word that means it cannot be touched?
A
Immediate
B
Tangible
C
Intangible
D
Durable
9) If something is intangible, do not last long used immediately, what is it characterizing?
A
A service
B
A product
C
An object
D
A need or a want
10) What is an object that people buy to use?
A
A business
B
A product
C
A service
D
A need or want
*select an answer for all questions
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