Unit 1.01 Quiz Review

Items that are nice to have

• Needs

• Wants

• Services

• Consumer

Items necessary for existence

• Needs

• Wants

• Services

• Consumer

Tangible items that businesses sell

• Needs

• Services

• Goods

• Consumer

Person who uses goods or services

• Consumer

• Assistant

• Employee

• Employer

Money left after a business pays expenses

• Needs

• Wnats

• Profit

• Resources

Business owned by two or more people

• Sole Proprietorship

• Partnership

• Corporation

• Franchise

Business owned by only one person

• Sole Proprietorship

• Partnership

• Corporation

• Franchise

Agreement to use the name and sell the goods of the parent company

• Sole Proprietorship

• Partnership

• Corporation

• Franchise

Business that is considered separate from its owners

• Sole Proprietorship

• Partnership

• Corporation

• Franchise

Process of promoting and presenting a product to customers

• Accounting

• Marketing

• Operations

• Human Resources