INTRO TO BUSINESS - CH 1 QUIZ

Any commercial activity that seeks profit by providing a good or a service is a 

• business
• competition
• consumer
• market

Things that you can see and touch are

• Wants
• Services
• Goods
• Needs

All businesses manufacture products.

• True
• False

Things that add comfort and pleasure to your life.

• Wants
• Needs
• Producers
• Consumers

The contest between businesses is

• competition
• revenue
• trust
• expenses

The money left over after a business has paid all the costs of operating the business is 

• profit
• loss
• money
• taxes

Which is a step in the decision making process?

• Choose
• Ask for another opinion
• Look at your resources
• Wait

Which of the following is correct?

• A need is necessary for survival
• Examples of capital resources are water, iron, air, or gold
• Human resources are also called people
• Services are things you can buy, like ice cream or textbooks

This is a person who uses goods and services. 

• consumer
• market
• manager
• competition

Items that people can use to make or obtain what they need or want. 

• Resources
• Goods
• Services
• Businesses