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Section 1.1 Quiz

Authored by Heather Genesio

Business

9th - 12th Grade

Section 1.1 Quiz
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a product?

A need that a person must have to survive

Anything offered for sale - a good or a service

An action or task performed for a fee

A physical item that can be touched

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for all the activities involved in developing and exchanging products?

Marketing

Business

Management

Finance

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between a customer and a consumer?

There is no difference between a customer and a consumer

Customers buy products for business use, while consumers buy products for their own use

Customers buy products for their own use, while consumers buy products for business use

Customers and consumers are the same

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for something that a person desires but can survive without?

Service

Good

Want

Need

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the function of business that involves controlling and making decisions about a business?

Production

Finance

Management

Marketing

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of utility involves making products available in convenient locations?

Place Utility

Form Utility

Time Utility

Information Utility

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a market?

A physical location where buyers and sellers meet

Anywhere buyers and sellers meet to buy and sell goods and services

A location where businesses operate to earn profits

A place where only consumers meet to buy products

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