More Basic Business Facts: Question Preview (ID: 8693)

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What is the word that means it cannot be touched?
a) Tangible
b) Durable
c) Immediate
d) Intangible

If something is intangible, do not last long used immediately, what is it characterizing?
a) A product
b) A need or a want
c) A service
d) An object

What is a need?
a) Food, water clothing that are necessary for survival
b) Items that make people’s lives more comfortable
c) Items not necessary for survive
d) Desires people have

What is a want?
a) An item that adds pleasure to life is necessary for survival
b) An item that adds pleasure to life but is not necessary for survival
c) An item that is necessary for creating products
d) An item that fulfills people’s desires

What is the reason for businesses to exist?
a) To fulfill the needs of consumers
b) To fulfill the needs or wants of consumers
c) To fulfill the wants of consumers
d) To make consumers lives better

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

What does intangible mean?
a) It can be touched
b) It is durable
c) It is an action
d) It cannot be touched

What are the characteristics of services?
a) Intangible, last a long time used over a long time
b) Intangible, durable used immediately
c) Intangible, do not last a long time used immediately
d) Tangible, do not last a long time used immediately

What is the meaning of product?
a) An action someone does for you or to you
b) An object that people buy to use
c) Computer, table chair
d) It is tangible durable

What is an object that people buy to use?
a) A service
b) A product
c) A need or want
d) A business

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