Business

Business refers to selling __________________ for monetary profit.

• products

• services

• Products or services

• Products and Ideas

Business conducts activities needed to fulfill market need.

• True

• False

Selection of business should be done based on

• knowledge and skill

• market demand

• one's interest

• employment opportunities

While starting a business, availability of human resources is the only selection criteria.

• True

• False

Some factors for business selection are

• Human Resource

• Environment Preservation

• Raw Materials

• Electricity and water supply

____________________ is the first step of any business.

Model/Framework of Business Operating Plan helps to get idea of profit and loss.

• True

• False

While making the business plan we should consider

• Estimated Investment

• Sustainable Development

• Current Capital

• Profit

Business Operating Plan

• provides details of required investment and possible sources of income for the business.

• helps to make plan on with whom to do partnership

• helps to manage the resources like raw materials, HR etc. for conducting the business activities.

• helps to plan how the resources can be utilized properly

A person who works in other's firm or organization is an entrepreneur .

• True

• False