Are You on Top of Your Customer's Desires?

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What is the difference between a want and a need?

A want is a desire while a need is necessary for survival or comfort (correct)

A want and a need are the same thing

A want is necessary for survival while a need is a desire

A want and a need are both necessary for survival

What is the main difference between a business and a hobby?

A business is done for leisure without making a profit while a hobby is an activity conducted to make a profit

A business and a hobby are both done for leisure without making a profit

A business and a hobby are the same thing

A business is an activity conducted to make a profit while a hobby is done for leisure without making a profit (correct)

What is profit?

The amount of money a company has left over after adding all of its expenses to its total revenue

The amount of money a company earns from selling its products or services

The amount of money a company has left over after subtracting all of its expenses from its total revenue (correct)

The amount of money a company spends to make and sell its products or services

What is a vision statement?

A statement that describes a company's goals and aspirations for the future Signup and view all the answers

What is corporate social responsibility?

A company's efforts to have a positive impact on society, the environment, and its stakeholders Signup and view all the answers

What is environmental responsibility?

An individual or organization's duty to take care of the natural world around us Signup and view all the answers

What is philanthropic responsibility?

A company's voluntary actions to give back to society or support social causes Signup and view all the answers

What are consumer wants and needs?

Consumer wants and needs refer to the desires and necessities of customers when purchasing products or services from a company. Signup and view all the answers

What is the difference between a want and a need?

A want is something a person desires, while a need is something that is necessary for survival or comfort. Signup and view all the answers

What is the main difference between a business and a hobby?

Businesses are activities conducted to make a profit, while hobbies are activities done for leisure without making a profit. Signup and view all the answers

What is the difference between a want and a need?

A want is something a person desires, while a need is necessary for survival or comfort. Signup and view all the answers

What is the purpose of a vision statement?

To describe a company's goals and aspirations for the future. Signup and view all the answers

What is the definition of profit?

The amount of money a company has left over after subtracting all of its expenses from its total revenue. Signup and view all the answers

What is the definition of a mission statement?

A short and simple statement that summarizes a company's reason for existing. Signup and view all the answers

What is the definition of corporate social responsibility?

A company's efforts to have a positive impact on society, the environment, and its stakeholders, in addition to pursuing profits. Signup and view all the answers