BUSINESS REVIEW

What is the definition of a Business?

• A company or organization that sells products or provides services to customers.

• A system in which people buy and sell goods, services, and resources.

• The more people demand the more business will supply.

• Someone who starts a business with the intention of earning a profit.

What is the definition of a Market?

• A company or organization that sells products or provides services to customers.

• A system in which people buy and sell goods, services, and resources.

• The more people demand the more business will supply.

• Someone who starts a business with the intention of earning a profit.

Describe Supply and Demand in Business?

• A company or organization that sells products or provides services to customers.

• A system in which people buy and sell goods, services, and resources.

• The more people demand the more business will supply.

• Someone who starts a business with the intention of earning a profit.

What is an Entrepreneur?

• A company or organization that sells products or provides services to customers.

• A system in which people buy and sell goods, services, and resources.

• The more people demand the more business will supply.

• Someone who starts a business with the intention of earning a profit.

What is a Product?

• A physical item created to be used, such as a car, or phone.

• Something useful offered like cell phone service or haircut

• A presentation to explain a business idea.

• A brief visual presentation that shows the critical details of business products or services.

What is a Service?

• A physical item created to be used, such as a car, or phone.

• Something useful offered like cell phone service or haircut

• A presentation to explain a business idea.

• A brief visual presentation that shows the critical details of business products or services.

The best businesses fit a need or want of customers.

• True

• False

An individual who undertakes the creation, organization, and ownership of a business.

• Partnership

• Entrepreneur

• Manager

• CEO

Multiple Choice

Economic Growth is:

• Rise over time in a nation's production of goods and services

• How fast a bull market changes

• A conflict between wages and prices

• Not important to the overall health of a country

When price increases the want for the good decreases. This is what?

• The Law of Supply

• The Law of Demand

• Market Demand

• Free Market