Business Ethics Quiz

A major task of business is to provide utility.

• True

• False

Consumer market is 1) Providing products 2) Creating markets 3) Generating economic benefits.

• True

• False

Ethics is a set of rules that help define appropriate behavior in a business setting.

• True

• False

Products are money earned in exchange for work.

• True

• False

Businesses focus on satisfying customers' needs and wants. A business could not continue without satisfied customers.

• True

• False

A level of material comfort measured by the goods, services, and luxuries available.

• Possession Utility

• Standard of living is

• Business Ethics

Gains that are measured in terms of money.

• Possession Utility

• Businesses focus on

• Products are

• Economic benefits are

Consists of all activities that identify, anticipate, and satisfy customer demand while making a profit.

• Form utility

• Marketing

• Finance

• Management

A physical item that can be touched.

• Business

• Profit

• Good

• Idea

The difference between the income earned and expenses incurred by a business during a specific period of time.

• Revenue

• Promotion

• Profit

• Business