Intro to Business Basics

Front

Which of the following best describes a business?

a. A government entity that enforces laws

b. An organization that provides goods and services in exchange for money

c. A charity that helps people in need

d. A group of people who work for free

Back

b. An organization that provides goods and services in exchange for money

Front

_______________ is the term for the money a business brings in.

Back

Revenue

Front

______________ is the term for the money a business pays out.

Back

Expense

Front

_____________ is the term for the money a business has left after paying all expenses.

Back

Profit

Front

The goal is for a business to operate so that it always makes a ________________.

Back

Profit

Front

Which of the following is not a reason why businesses exist?

a. Provide Products and services to people

b. Create jobs and provide income

c. Help the government with new regulations

d. Impact the community and the economy

Back

Help the government with new regulations

Front

The United States economy is currently dominated by businesses in the ___________ sector.

Back

Service

Front

Individuals or groups who have an interest in a business and are affected by its decisions are called?

Back

Stakeholders

Front

Why are customers important to a business?

Back

They provide feedback and revenue

Front

Which type of stakeholder provides financial support needed to start or grow a business?

Back

Investors