Business Concepts Quiz

How do you describe someone who is an Entrepreneur?

• A person who works for a company

• A person who starts and runs their own business, taking on financial risks in hopes of earning a profit

• A person who manages a team

• A person who invests in stocks

Customer Service is what?

• The process of manufacturing products

• The support and assistance a business provides to its customers before, during, and after purchasing a product or service

• The act of selling products

• The method of advertising products

When a business is using Marketing what does that look like?

• The activities a business uses to promote and sell its products or services, including advertising and market research

• The process of creating new products

• The act of hiring employees

• The method of reducing costs

What is Revenue?

• The total amount of money a business earns from selling goods or services before any expenses are subtracted

• The profit after all expenses

• The amount of money spent on advertising

• The cost of goods sold

How do you describe the word Profit?

• The total sales of a company

• The financial gain a business makes after subtracting all the costs and expenses from its revenue

• The amount spent on marketing

• The total revenue before expenses

Budget is another word for?

• A plan for managing income and expenses over a certain period of time to ensure financial stability

• The total income of a business

• The amount spent on salaries

• The cost of production

Finance is?

• The management of money, including activities like budgeting, saving, investing, and borrowing

• The process of creating a budget

• The act of selling products

• The method of reducing expenses

Supply Chain is made up of what?

• The organizations, people, activities, information, and resources involved in supplying a product or service to a customer

• The process of manufacturing goods

• The act of selling products

• The method of advertising

How do you describe the word Innovation?

• The introduction of new ideas, products, or methods in business to improve services or create more value for customers

• The process of reducing costs

• The act of hiring employees

• The method of selling products

Which one best describes Leadership?

• The ability to guide, direct, or influence people in achieving business goals or managing a team or project

• The process of creating a budget

• The act of selling products

• The method of advertising