Exploring Business Marketing & Entrepreneurship Module 1

Contest between businesses to win customer's business and loyalty

• profit
• needs
• competition
• services

Items necessary for existence, such as clothing, food, and shelter?

• keeps prices down
• keeps quality of product good
• wants
• needs

Which of the following is a need?

• Air Jordans
• designer jeans
• food
• new car

Which of the following is a want?

•  shoes
•  winter coat
• UGG boots
• home

Which of the following businesses would be considered a service business?

• Wal*Mart
• Roses
• L&J car wash
• KMart

What is the purpose of a business?

• To fulfill the needs and wants of the consumer
• To make money
• To be you own boss
• To have as much time off as possible

Businesses can be classified as 

• goods
• Services
• both good and services
• one owner

What function of business is responsible for paying bills?

• management
• accounting
• human resources
• marketing

Which function of  business is responsible for the hiring and firing of employees?

• Accounting
• Management
• Operations
• Human Resources

Which Business function is responsible for making sure the organization meets its goals and obligations?

• Management
• Operations
• Marketing
• Information Technology