Business Activity and Consumer Demand Quiz
6 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Explain the concept of want.

A good or service which people would like, but is not essential for living.

Define business activity.

The process of producing goods and services to satisfy consumer demand.

What is a need?

A good or service which is essential to living.

How do businesses contribute to our daily lives?

<p>Businesses provide us with all the goods and services that we need and would like to have.</p> Signup and view all the answers

What is the purpose of business?

<p>To turn resources into goods and services to meet all our needs and wants.</p> Signup and view all the answers

Why is it important to learn key terms in business?

<p>Key terms are important when answering questions and help in understanding topics in later chapters.</p> Signup and view all the answers

More Like This

Business Enterprise Essentials Quiz
5 questions

Business Enterprise Essentials Quiz

ComprehensiveCommonsense avatar
ComprehensiveCommonsense
Business Activity and Purpose
5 questions
Business Activity Regulations Quiz
48 questions
Use Quizgecko on...
Browser
Browser