Introduction to Business Finance Quiz

Anything that can be bought or sold.

An item that can be touched physically.

Actions, tasks, or skills performed for a fee.

What are the four functions of a business?

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Answer explanation

Production: making goods, delivering services

Finance: activities involving money (earnings, expense)

Marketing: identify, anticipate, satisfy consumer demand

Management: controlling and making decisions

An individual or group who buys products.

Customers who purchase for their own end use.

What are the four ways businesses generate economic benefits?

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Answer explanation

- Profits for owners

- pays wages (e.g employment)

- offer consumer choices

- pays taxes (local, state, federal)

Something a person must have in order to survive.

Something that a person desires but can survive without.

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