BUSINESS ESSENTIALS- main concepts

Which of the following is not an option for a reference when you’re filling out a job application?

• A former manager/boss

• A family member

• A teacher

• A coach/sponsor of club

Occurs when one person intentionally damages someone else’s contractual or business relationships with a third party causing economic harm.

• Fraud

• Defamation

• Interference with Contractual Relations

• Embezzlement

False statement ruining a person’s good name or reputation is the tort of Fraud.

• TRUE

• FALSE

There are ____ requirements of a legally binding contract.

• 5

• 4

• 7

• 6

Which of the following is not a type of business ownership we covered in class?

• Partnership

• Corporation

• Limited Liability Company

• Board of Directors

What is the purpose of a contract?

• To create obligations

• To have an enforceable agreement holding parties accountable

• To have the power to sue another party if they breach

• To legally create a negotiation held up by Administrative Agencies

The action of business of promoting and selling products of services, including market research and advertising is

• Marketing

• Accounting

• Economics

• Business Communications

A particular group of consumers at which a product or service is aimed is called a

• Market

• Target Market

• Market Segmentation

• Target Research

Goods are physical that you can touch and hold whereas services are something done for another.

• TRUE

• FALSE

Which type of logo is show in the picture?

• EMBLEM

• WORD MARK

• SYMBOL

• COMBINATION MARK