ASSESSMENT THREE

The purpose of Businesses is to fulfill the needs and wants of consumers.

• TRUE

• FALSE

What type of Business is McDonalds?

• Partnership

• Franchise

Business owned by shareholders is

• Partnership

• Sole proprietorship

• Corporation

• Franchise

A group of people who jointly oversee the activities of a corporation

• Employees

• Board of Directors

• Volunteers

What is a need?

• Something essential for survival

• Something we want but can do without

• Things we can touch

• Activities provided business or others

A haircut is a

• good

• service

An iPhone is a

• need

• want

Lawn mowing is a

• good

• service

What is something we do not have to have to survive, but we would like to have it?

• need

• want

• good

• service

What is something that people do to provide goods for us or help for us?

• needs

• wants

• goods

• service