Business Entities and Economic Resources Quiz
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Business Entities and Economic Resources Quiz

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@SimplestSparrow

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Questions and Answers

is an entity in which economic resources or inputs, such as material and labor, are put together and processed to provide goods or services to customers.

  • business (correct)
  • business organization
  • coorporation
  • corporation

    • is a type of business that provides intangible products. Some needed people to deliver service and some needed goods to deliver service.

  • merchandising business
  • hybrid
  • service business (correct)
  • manufacturing business

    • is also known as “buy and sell” where businessman buys good at a certain cost and sells it on a much higher price to earn a profit.

  • service business
  • manufacturing business
  • hybrid
  • merchandising business (correct)

    • is a type of business buys raw materials and converts these materials into a new type of product.

    <p>manufacturing business</p> Signup and view all the answers

    is a combination of 2 or more types of business.

    <p>hybrid</p> Signup and view all the answers

    is a collection of people working towards goals.

    <p>organization</p> Signup and view all the answers

    is a collection of people working towards similar goals while maintaining its capacity to generate income.

    <p>business organization</p> Signup and view all the answers

    is an activity of generating income by means of buying and selling.

    <p>business</p> Signup and view all the answers

    This is a form of business owned by a single person. Some common subtypes are self-employment and franchise.

    <p>sole propritorship</p> Signup and view all the answers

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