Business Concepts Quiz

What is a "good"?

• Something you can touch and buy, like a toy

• A service someone does for you, like a haircut

• A place where people work

• Money you save in a bank

What is the role of money in business?

• To make friends

• To exchange for goods and services

• To play games

• To travel

What is a "service"?

• A product you can buy, like a book

• Work that someone does for you, like fixing a car

• A company’s logo

• A type of food

Who is a "consumer"?

• Someone who makes goods

• Someone who buys goods or services

• Someone who works in a factory

• Someone who manages a business

What does it mean to "save money"?

• To spend all your money

• To keep some money aside for future use

• To give money away

• To borrow money

What is an "entrepreneur"?

• A person who works for someone else

• A person who starts and runs their own business

• A person who teaches in a school

• A person who is looking for a job

What is the main purpose of advertising?

• To hire employees

• To tell people about products and encourage them to buy the product

• To create websites

• To store products in a warehouse

Which of the following is an example of a "business"?

• A company that makes and sells shoes

• A classroom where students learn

• A park where people play

• A hospital where doctors work

What is a "budget"?

• A plan for how to spend and save money

• A type of bank account

• A shopping list

• A job application

What does it mean to "invest" money?

• To spend all your money on fun things

• To put money into something, like a business, to try to make more money

• To hide money at home

• To borrow money from a friend