EBS Chp 1 Intro To Biz Quiz_1

A business main purpose is to meet the needs and wants of customers.

• True

• False

Businesses benefit the community by _______

• Providing goods and services to the people

• Being the most competitive business in the country

• Making the most profit

• Having the most business resources

Businesses that sells similar goods and services that meet the same needs of the customers

• direct competition

• indirect competition

Needs are goods and services not necessary for survival but which one would like to have.

• True

• False

Wants are goods and services that are not necessary for survival but which one would like to have.

• True

• False

Needs are goods & services necessary for one's survival

• True

• False

Indirect competition is when 2 businesses sell similar goods and services that meet the same needs of the customer.

• true

• false

Which of the following is not a need?

• handphone

• breakfast

• drinking water

• housing

Which of the following is a want?

• Food

• Clothing

• Water

• Car

Customers are people who buy goods & services from a business.

• True

• False