Basic Business Facts: Question Preview (ID: 8661)

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Which of the following is a product?
a) Manicure
b) Auto Detailing
c) Taxi ride
d) Computer

What is another word for customer?
a) Colleague
b) Consumer
c) Manufacturer
d) Co-worker

What is another word that means products?
a) Goods
b) Consumers
c) Producers
d) Manufacturers

What does tangible mean?
a) You can touch it
b) You cannot touch it
c) It lasts a long time
d) It does not last a long time

Which of the following is a service?
a) Car
b) Cellphone
c) Public Transit
d) Hamburger

What is a business?
a) Org. offering products for sale that consumers need
b) Org. offering products or services for sale that consumers need or want
c) Org. offering services for sale that consumers want
d) Org. offering products or services for sale that consumers do not need or want

What does profit mean?
a) To lose money
b) To spend money
c) To save money
d) To make money

What is the goal of a business?
a) To make a profit or help people in the community
b) To make money
c) To help people in the community
d) To sell products or services

What are the characteristics of products?
a) Intangible, durable & they are used
b) Tangible & they are not used
c) Tangible, durable & they are used
d) Intangible & they collect dust

What is the meaning of service?
a) An action
b) It is intangible & used immediately
c) A taxi ride, manicure or car detailing
d) An action someone does for another person or to another person

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