Basics of Business - BMF 8.22

A haircut is an example of which?

• Product

• Service

• Business

• Function

A smartphone you buy at the store is an example of which?

• Service

• Market

• Product

• Core function

Which of these is considered a service?

• Car wash

• Shoes

• Backpack

• Bicycle

Which of these is considered a product?

• Tutoring

• House cleaning

• Haircut

• Pizza

What is the main difference between a product and a service?

• A) Services are cheaper than products

• B) Products are physical; services are actions

• C) Products are always better than services

• D) Services are only online

Buying a pair of jeans is an example of:

• Service

• Function

• Product

• Market

Going to the doctor’s office is an example of:

• Service

• Product

• Production

• Advertising

Which of these could be both a product and a service?

• Shoe store

• Clothing boutique

• Bookstore

• Restaurant

A business owned by one person is called a:

• Partnership

• Sole Proprietorship

• Corporation

• Franchise

A business owned by two or more people is a:

• Franchise

• Corporation

• Partnership

• Sole proprietorship