MNGT 200_M1

Front

Business

Back

A business is defined as "any activity that provides goods or services to consumers to make a profit."

Front

What is the difference between revenue and profit? Revenue is the total income generated, while profit is what remains after all ______ are paid.

Back

expenses

Front

Which of the following is an example of a business that produces tangible products? Bank, Airline, Apple selling iPhones, Education

Back

Apple selling iPhones

Front

Which type of business provides intangible services?

Back

services

Front

What is a hybrid business? Hybrid businesses provide both ______ and ______.

Back

goods; services

Front

Non-profit organizations provide social or educational services without ______ as their primary goal.

Back

profit

Front

Who invests money, develops the business idea, and gathers necessary resources in a business?

Back

Owners

Front

Who works for the company to help achieve its goals?

Back

Employees

Front

Who is the ultimate target whose needs must be satisfied to generate profit?

Back

Customers

Front

What is the key focus for businesses to gain a competitive edge according to contemporary business trends in Canada?

Back

Focus on Innovation