Exploring Business and Entrepreneurship Unit 1

What is a difference between consumers and customers?

• Consumers make goods and services.

• Consumers purchase goods and services.

• Customers make goods and services.

• Customers purchase goods and services.

What do wants and needs have in common?

• Both needs and wants are goods.

• Both needs and wants are services.

• Both needs and wants are things people must have.

• Both needs and wants are things people use.

What is a difference between wants and needs?

• Needs are goods and wants are services.

• Needs are necessary for survival, wants are nice to have.

• Needs are nice to have, wants are necessary for survival.

• Needs are services and wants are goods.

Plumbing, heating/air conditioning repair, accounting services, and lawn care are all considered what type of businesses?

• Combination product and service

• Product type

• Service provider

• Sole proprietorship

Most car dealerships, beauty salons, and home improvement stores are classified as which type of business?

• Combination product and service

• Non-profit

• Product type

• Service provider

Clothing stores, CD stores, and electronics stores are all classified as which type of business?

• Combination product and service

• Non-profit

• Product type

• Service provider

Barber shops, dry cleaners, and car repair shops are all classified as which type of business?

• Combination product and service

• Non-profit

• Product type

• Service provider

Norman and Jones Septic Tank Cleaners are the best septic tank cleaners in Mount Airy. How is Norman and Jones Septic Tank Cleaners classified?

• Combination product and service

• Non-profit

• Product type

• Service provider

Feather Duster Maids Company employs seven maids to clean people's houses. How is this business classified?

• Combination product and service

• Non-profit

• Product type

• Service provider

The Starving Artists Society uses its gallery to sell paintings of local artists. The funds raised by The Starving Artists Society are used to help local artists continue in their chosen profession. The Starving Artists Society is classified as a:

• combination product and service.

• for-profit.

• non-profit.

• service business.