Final Exam Review

Front

Definition: Gains that are measured in terms of money. Term: Products are

Back

False

Front

Definition: Is an action or task that is performed, usually for a fee. Term: A service

Back

True

Front

Business Ethics

Back

A level of material comfort measured by the goods, services, and luxuries available.

Front

Definition: Customers who purchase goods and services for their own personal use. Term: Something a person must have in order to survive, such as food, clothing, and shelter.

Back

False

Front

A set of rules that define what is wrong and right. Ethics helps people make the right decisions in their personal and professional lives.

Back

True

Front

Added when it becomes easier for customers to acquire a product. Ex. Convenience stores and drive-thru pharmacies offer quick product access.

Back

True

Front

Providing products, Creating markets, Generating economic benefits

Back

True

Front

Any activity related to making a product. Ex. Farming, mining, construction, and manufacturing.

Back

True

Front

Added when facts and details about a product are made available to a customer. Ex. Chips and snack foods have the nutritional information on the back of the packaging.

Back

False

Front

Added when products are available at convenient places. Ex. Shopping malls make a wide variety of stores available in one location.

Back

True