Module 7 Basic

Which of the following is considered a service?

• A skateboard

• A T-shirt

• A haircut

• A bag

Which revenue model involves earning a set monthly or yearly fee?

• Service-based

• Freemium

• Subscription

• Advertisement

Who wants stylish, eco-friendly clothes at good prices from Teen EcoStyle?

• Owners

• Employees

• Customers

• Government

What is a 'Physical market' example for Teen EcoStyle?

• Instagram store

• Meesho app

• Local clothes exhibition

• Online contest

If demand is high and supply is low, what happens to price?

• Goes up

• Goes down

• Stays the same

• Disappears

Which competition type has only one seller and no choice?

• Oligopoly

• Monopolistic

• Monopoly

• Perfect competition

Which type of competitive advantage is 'easy to find or access', like delivery to school desks?

• Cost advantage

• Quality advantage

• Location advantage

• Service advantage

What is a 'freemium' business model?

• Customers always pay upfront

• Free product with paid add-ons

• Product is only for subscription

• Sell ads to other brands

What does the community want from a business?

• Highest profits

• Clean, quiet, responsible business

• Eco-friendliest products only

• Donation to charity

Which function deals with money, profits, and expenses?

• Human Resources

• Customer Service

• Finance

• Production