Business Vocabulary Review

Business Vocabulary Review

By Angela Royster

In today's lesson ​we will review business vocabulary.

Business​

1. ​a person's regular occupation, profession, or trade

2. the practice of making one's living by engaging in commerce

Entreprenuer

a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.​

Goods

Things you can see and touc​h.

Services

Activities that employees complete to earn money. For example, dog walking.

Retail

The sale of goods to the public in relatively small quantities for use or consumption rather than for resale.

Needs

Things that are required in order to live​

Consumer/customer

a person who buys and uses goods and services​

Producers

​

someone who creates and supplies goods or services.

Demand

​

the quantity of a good or service that consumers are willing and able to buy​

Supply

​

the quantity of a good or service that businesses are willing and able to provide​

Multiple Choice

Select the best definition for the following term:

Business

• ​a person's regular occupation, profession, or trade

  the practice of making one's living by engaging in commerce

• the quantity of a good or service that businesses are willing and able to provide​

• the quantity of a good or service that consumers are willing and able to buy​

• someone who creates and supplies goods or services.

Multiple Choice

Select the best definition for the following term:

Producers

• the quantity of a good or service that businesses are willing and able to provide​

• the quantity of a good or service that consumers are willing and able to buy​

• someone who creates and supplies goods or services.

• the quantity of a good or service that businesses are willing and able to provide​

Multiple Choice

Select the best definition for the following term:

Goods

• the quantity of a good or service that businesses are willing and able to provide​

• the quantity of a good or service that consumers are willing and able to buy​

• someone who creates and supplies goods or services.

• Things you can see and touc​h.

Multiple Choice

Select the best definition for the following term:

Consumers/customers

• a person who buys and uses goods and services​

• the quantity of a good or service that consumers are willing and able to buy​

• someone who creates and supplies goods or services.

• Things you can see and touc​h.

Multiple Choice

Select the best definition for the following term:

Services

• the quantity of a good or service that businesses are willing and able to provide​

• Activities that employees complete to earn money. For example, dog walking.

• someone who creates and supplies goods or services.

• Things you can see and touc​h.

Multiple Choice

Please select the best word for the following definition:

The sale of goods to the public in relatively small quantities for use or consumption rather than for resale.

• retail

• consumer

• supply

• demand

Multiple Choice

Please select the best word for the following definition:

The quantity of a good or service that businesses are willing and able to provide​

• retail

• consumer

• supply

• demand

Multiple Choice

Please select the best word for the following definition:

Things that are required in order to live​

• needs

• producers

• services

• entreprenuer

Multiple Choice

Please select the best word for the following definition:

The quantity of a good or service that consumers are willing and able to buy​

• retail

• demand

• services

• entreprenuer

Multiple Choice

Please select the best word for the following definition:

A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.​

• demand

• supply

• services

• entreprenuer