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Pricing Schools Business

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Business Fundamentals and Market Adaptation Quiz

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Business Fundamentals and Market Adaptation Quiz

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Questions and Answers

Which of the following best describes a business?

An activity that seeks to provide goods and services to others while operating at a profit. (correct)

An activity that seeks to provide goods and services to others without any profit motive.

An activity that seeks to provide goods and services to others while operating at a loss.

An activity that seeks to provide goods and services to others without any financial considerations.

What are goods in the context of business?

Tangible products such as computers, food, clothing, cars, and appliances. (correct)

Services provided by businesses.

Consumer wants and needs.

Intangible products such as education, health care, insurance, recreation, and travel and tourism.

What are services in the context of business?

Intangible products such as education, health care, insurance, recreation, and travel and tourism. (correct)

Tangible products such as computers, food, clothing, cars, and appliances.

Goods provided by businesses.

Consumer wants and needs.

How can businesses reach consumers?

Using whatever media they prefer, including blogs, tweets, Facebook, TV advertising, and more. (A) Signup and view all the answers

What is one result of successfully filling a market need?

You can make money for yourself, sometimes a great deal, by giving customers what they want. (A) Signup and view all the answers

Success in business is based on constantly adapting to the ______

market Signup and view all the answers

A business is any activity that seeks to provide goods and services to others while operating at a ______

profit Signup and view all the answers

To earn that profit, you provide desired goods, jobs, and services to people in the ______

area Signup and view all the answers

Goods are tangible products such as computers, food, clothing, cars, and ______

appliances Signup and view all the answers

Services are intangible products (products that can't be held in your hand) such as education, health care, insurance, recreation, and travel and ______

tourism Signup and view all the answers