FL Review Quiz

This advertisement shows that McDonald's and Secret Recipe have __________________.

• competition against each other

• business partnership

We do not need to learn when we do any business.

• True

• False

What should we learn as an entrepreneur? You may choose more than 1 answer.

• business strategies

• customers

• current trends

• ways to cheat the customers

To make a business successful, we must communicate with the customers.

• True

• False

Why should we listen to the customers? You may choose more than 1 answer.

• argue with customers

• get feedbacks from customers

• build up relationship with customers

• give customers a sense of belongingness

What should we do to provide excellent customer service? You may choose more than 1 answer.

• be friendly to the customers

• be rude to the customers

• greet the customers politely

• do not listen to the customers' needs

A person who buys a product or service is called as a _____________.

• supplier

• producer

• seller

• consumer

What are the 2 basic things that determine the price of a product?

• supply

• quality

• value

• demand

What is demand?

• a consumer's desire for a product or service

• the amount of goods that producers make

• the quality of goods

• the price of goods

What is supply?

• the amount of goods that are left over

• the quality of goods

• the amount of goods available for consumers to buy

• the price of goods