N4 Business Revsion (Business in Action)

Goods are tangible, which means they can be seen and physically touched.

• True

• False

Services are also tangible.

• True

• False

Non-durable means that a product is long-lasting.

• True

• False

Which of the items below is a service.

• iPhone

• PlayStation

• Taxi ride

• Backpack

Outline 2 reasons for starting a business.

The 3 sectors of industry are:

• Private, Public and Third

• Primary, Secondary, Tertiary

The 3 sectors of the economy are:

• Private Public and Third

• Primary, Secondary and Tertiary

Identify 3 sources of finance for a small business.

Identify 2 sources of advice for a small business.

What are the 2 different types of market research.

• Computer and Field Research

• Desk and Field Research

• Outside and Computer Research

• First-hand and Second-hand Research