Functions of a Business - Entrepreneurship

A business exists to provide products or services to consumers to earn a profit.

• True

• False

Production does not involve taking goods from its raw material stage and changing them into a finished product.

• True

• False

The goal of marketing is to attract customers

• True

• False

Word of mouth is a form of marketing.

• True

• False

It is not necessary for all businesses to spend a great deal of time developing, implementing and evaluating plans and activities.

• True

• False

You cannot use Facebook as a marketing technique.

• True

• False

Finance involves determining the amount of capital needed for the business and how the capital will be obtained.

• True

• False

A bank does not lend money to business people.

• True

• False

How many functions does a business have?

• 10

• 4

• 5

• 6

This function involves creating or obtains goods and changing them into a finished product.

• Production

• Marketing

• Finance

• Management