Business in Society

Front

What is the main difference between 'needs' and 'wants'?

Back

Needs are essential for survival, while wants are things you would like to have but do not need to survive.

Front

Which of the following is an example of a 'need'?
Options: Gym membership, Cinema tickets, Water, New trainers

Back

Water

Front

Why do businesses supply products and services?

Back

To meet both the needs and wants of societies

Front

In economically developed countries, why do some people work?

Back

To earn an income to buy things they want rather than need

Front

What is the difference between needs and wants?

Back

Needs are things we require to survive; wants are products or services we would like to make our life more enjoyable.

Front

Which of the following is an example of a need?

• Designer jacket
• Sports car
• Water
• Holiday in Spain

Back

Water

Front

Which of the following is an example of a want? Basic food such as bread and potatoes, Weatherproof house, Strawberry milkshake, Water

Back

Strawberry milkshake

Front

What are 'tangible' goods?

Back

Products we can see and touch

Front

Which of the following is an example of a durable good? Food, Can of soft drink, Fridge, Petrol

Back

Fridge

Front

What is a characteristic of non-durable goods?

Back

Consumed almost immediately