1.01 Purpose Of Business Review Question Preview (ID: 25593)


What Is The Purpose And Basic Characteristics Of Business. TEACHERS: click here for quick copy question ID numbers.

Fulfills the needs and wants of the consumer by providing goods and/or serivces
a) Business
b) Customer
c) Products
d) Marketing

Necessary for survival
a) Wants
b) Needs
c) Cell Phones
d) Money

Nice to have but not necessary for survival
a) A rich and generous uncle
b) Needs
c) Wants
d) Goods and Services

Purchases goods and services
a) Products
b) Vendor
c) Business
d) Customer

The physical goods or services that can satisfy a customer's needs
a) Products
b) Wants
c) Business
d) Money

Babysitting, lawn care, waitressing, are examples of ...
a) Products
b) Services
c) Wants
d) Needs

Air, food, water, are examples of ...
a) Products
b) Services
c) Wants
d) Needs

Baker, computers, toys, dry cleaners are examples of ....
a) Products
b) Services
c) Wants
d) Needs

Physical items produced by businesses
a) Money
b) Services
c) Goods
d) None of the choices given

The motivation to start a business is...
a) To avoid boredom
b) To provide a community service
c) Greed
d) Profit and meeting the wants and needs of consumers

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