Business Quiz

Which of these are part of your Vocabulary Words

• A. Tangible

• B. Source

• C. Resources

• D. Avail

__________are the intangible

• Goods

• N/A

• services

• Drinks

__________ have become our primary research tool for answers.

• Social Media

• You Tube

• Tik Tok

• Search Engines

Which one is a need?

• Cookie

• Water

• Chocolate

• Soft Drink

What is the fundamental difference between needs and wants?

• Needs are temporary, while wants are permanent

• Needs are essential for survival, while wants are desire

• Needs are emotional, while wants are practical.

• Needs and wants are the same.

Which of the following is an example of a basic human need?

• Smartphone

• Clothing

• Video Game

• Computer

How do cultural and societal factors influence what people consider as needs and wants?

• They have no influence on needs and wants.

• They only influence wants, not needs

• Cultural factors influence needs, while societal factors influence wants

• They play a significant role in shaping people's perception of needs and wants.

Why is it important for individuals to distinguish between their needs and wants when managing their finances?

• Understanding the difference helps in making informed financial decisions.

• It makes no difference in financial management

• It's not important; needs and wants are interchangeable

• . Needs and wants have no relation to financial planning.

The first step of the consumer decision-making process is ___________ the need for a service or good. 

• Purchase

• Information

• Recognizing

• Evaluation

What is the primary aim of a "business"?

• To provide educational services.

• To generate profit by producing and selling goods or services.

• To offer social services.

• To create laws and regulations.