ITB Day 1 Slide Deck

Open Ended

In your own words, what does the term 'business' mean to you?

Multiple Choice

Why is it important to understand the relationship between business and economics?

• It helps in making informed financial decisions

• It is only useful for business owners

• It only affects large corporations

• It is not relevant to everyday life

Open Ended

Explain how businesses benefit society.

Multiple Choice

Which of the following best describes an economic system?

• An organized way a state or nation distributes resources and provides goods and services

• A method for making products only

• A way to avoid spending money

• A system for hiring employees

Multiple Select

Which of the following are considered business activities?

• Operational Activities

• Investing Activities

• Financial Activities

• Personal Activities

Multiple Choice

What is the main goal of a business?

• To earn money by making a profit

• To provide free services

• To avoid competition

• To pay as many taxes as possible

Open Ended

What is the difference between assets and liabilities in a business?

Multiple Choice

Which of the following is NOT considered an operational activity in a business?

• Production

• Marketing

• Investment

• Management

Multiple Select

Which of the following are examples of financial activities in a business?

• Collecting money from sales

• Repaying debt

• Providing services

• Selling stock

Open Ended

Explain how businesses contribute to society by providing products and creating markets. Use examples to support your answer.

Multiple Choice

What are economic resources according to the lesson?

• Goods and services businesses use to meet consumer wants and needs

• The money businesses earn from sales

• The taxes businesses pay to the government

• The products businesses sell to customers

Multiple Select

Which of the following are considered types of economic resources?

• Land

• Labor

• Capital

• Marketing

Multiple Select

Select all the parts that are commonly found in a business plan.

• Executive Summary

• Market Analysis

• Employee Handbook

• Company Description

Multiple Choice

Which of the following is NOT typically included in a business plan?

• A list of the company's competitors

• A description of the business's products and services

• A plan for creating a social media presence

• A list of employees' favorite hobbies

Open Ended

Explain why it is important for entrepreneurs to consider their interests and abilities when brainstorming business ideas.

Open Ended

Reflecting on today's lesson, what is one question you still have about the definition of business or its role in economics?

Multiple Choice

What is the main focus of Chapter 1 in the Intro to Business course?

• Examining Business and Economics

• Marketing Strategies

• Financial Accounting

• Business Law