Business and Marketing Quiz #1 Review

What is business?

• Exchanging money for something of value, either a product or service

• Activity that satisfies economic needs and/or wants of customers

• A store that sells goods

• A job

What are the primary functions of business?

• Production and finance

• Marketing and management

• Production and management

• Marketing and production

What are the secondary functions of business?

• Marketing and production

• Marketing and management

• Finance and management

• Production and management

A marketplace is:

• a grocery store

• any location

• anywhere a product is sold to a seller

• anywhere a product is sold to a buyer

What business is an example of a producer?

• Apple

• Doggie Daycare

• Target

• Kohl's

What business is an example of a trade industry?

• Wal-Mart

• Features

• Ford

• Altra Federal Credit Union

What business is an example of a service industry?

• Starbucks

• American Eagle

• Moxy Salon and Spa

• Wal-Mart

Is Apple a large or small business?

• Large

• Small

Is Culver's a domestic or global business?

• Domestic

• Global

Is the Red Cross a profit or non-profit business?

• Profit

• Nonprofit