Functions of Businesses

A business exists to provide products or services to consumers and to earn a profit.

• True

• False

Production does not involve taking goods from its raw material stage and changing them into a finished product.

• True

• False

The goal of marketing is to attract customers.

• True

• False

Word of Mouth is a form of marketing technique.

• True

• False

It is not necessary for all businesses to spend a great deal of time developing, implementing and evaluating plans and activities.

• True

• False

You cannot use Facebook or WhatsApp as a marketing technique.

• True

• False

Finance involves determining the amount of capital needed for the business and how the capital will be obtained.

• True

• False

A bank does not lend money to business people.

• True

• False