Intro to Business: Chapter 1

Wants that are widely shared by many people are called _____.

• Private Wants

• Needs

• Public Wants

• Goods and services

Tasks that businesses perform for consumers are known as

• Services

• Goods

• Resources

• Fees

Items that people can use to make or obtain what they need or want are called

• Materials

• Services

• Limits

• Resources

Business is any commercial activity that seeks

• profit

• Retail

• goods and services

• money

Resources limit the number of needs and wants people can

• make

• satisfy

• desire

• enjoy

The reward that motivates businesses to supply goods and services is

• prestige

• Employment

• profit

• fees

Good choices are easier to use if you use the process of

• identification

• choice

• consideration

• decision-making

To identify possible courses of action, you should take time to consider

• pros and cons

• alternatives

• your decision

• the results

To determine the pros and cons of a decision you should consider

• your values

• your choices

• your goals

• all of these

Once your decision is put into effect, you should

• relax

• reconsider

• evaluate it

• doubt it