business quiz

what is business ?

• It is a transaction

• It is a profit

• it is a organisation

• it is a transaction of trade for profit making

A business that engages in finance, sales, or reselling is a __________ business

• commercial

• service

• industrial

• financial

a bank is an example of what type of business?

• commercial

• service

• industrial

• real estate

In a franchise relationship, the entity who is the person leasing the rights of his/her tools of business is referred to as the __________?

• franchisor

• franchisee

• franchizor

• lessee

What is a supplier?

• A business which sells (or supplies) products to another business.

• Any person or organisation which buys or is supplied with a product or by a business.

• The person who ultimately uses (or consumes) a product.

• The wants and desires of buyers of a product or the customers of a business.

What is a customer?

• Those who provide data for a survey usually by answering questions in a questionnaire or interview.

• A business which sells (or supplies) products to another business.

• A group of similar products made by a business like a number of different soap products.

• Any person or organisation which buys or is supplied with a product or by a business.

What is a focus group?

• In market research, a group of people brought together to answer questions and discuss a product, brand or issue.

• A list of questions to be answered by respondents, designed to gather information about consumers’ tastes.

• The process of gathering secondary data, which is information that has already been gathered.

• The idea/ impression/ image that customers have in their minds about the brand.

What is a product range?

• Data that can be expressed as numbers and can be statistically analysed.

• The idea/ impression/ image that customers have in their minds about the brand.

• The chance of damage or loss occurring as a result of making a decision.

• A group of similar products made by a business like a number of different soap products.

Reward of a professional--------

• Money

• Fees

• Wages

• Salary

No capital is required in which economic activity

• Business

• Profession

• Employment

• All of the above