Intro to Business Ch 1 Quiz

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

Which is an example of a service?

• Smart Board
• Hair stylist
• Piece of paper
• Homeless man

What is another name for human resources?

• Labor
• People
• Homies
• Workers

Things that you can see and touch are

• Wants
• Services
• Goods
• Needs

When you go to a movie, make a deposit at the bank, get a haircut, take a swimming lesson, use your telephone, or ride a bus, you are using services.

• True
• False

Wants are limited

• True
• False

Which is a step in the decision making process?

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

Competition forces businesses to search for new ways to satisfy customers’ wants and needs

• true
• false

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

The first step in the decision-making process is to ________.

• identify the choices

• define the problem

• evaluate advantages and disadvantages of each choice

• review your decision