Business Concepts Quiz

What is the definition of "Business"?

• A plan of action designed to achieve a goal.

• An organization that sells goods or services to make money.

• The process of gathering information about a topic.

• A specific aim or purpose that you want to reach.

What does a "Business Plan" outline?

• The amount of a product or service available to sell.

• A clear idea of what you want your business to become.

• A company's goals and the strategies to achieve them.

• The desire for a product or service from customers.

What is a "Goal"?

• A target or something you want to achieve.

• The group of people who might buy your product or service.

• The money that a business makes from selling goods or services.

• A business that offers similar products or services.

What is an "Objective"?

• A specific aim or purpose that you want to reach.

• The process of gathering information about a topic.

• The activities that help promote and sell products.

• A person who buys goods or services.

Who makes up the "Market"?

• A business that offers similar products or services.

• The group of people who might buy your product or service.

• The amount of a product or service available to sell.

• A plan of action designed to achieve a goal.

Who is a "Customer"?

• A person who buys goods or services.

• A clear idea of what you want your business to become.

• The desire for a product or service from customers.

• The process of gathering information about a topic.

What is a "Unique Selling Point"?

• The amount of a product or service available to sell.

• What makes your product different from others.

• A specific aim or purpose that you want to reach.

• The money that a business makes from selling goods or services.

What does "Research" involve?

• The process of gathering information about a topic.

• A plan of action designed to achieve a goal.

• The activities that help promote and sell products.

• A business that offers similar products or services.

What is "Demand"?

• The amount of a product or service available to sell.

• The desire for a product or service from customers.

• A clear idea of what you want your business to become.

• The process of gathering information about a topic.

What does "Supply" refer to?

• The amount of a product or service available to sell.

• The group of people who might buy your product or service.

• A target or something you want to achieve.

• The activities that help promote and sell products.