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Questions and Answers
What defines a business according to the text?
What defines a business according to the text?
- Providing goods and services while operating at a loss
- Providing goods and services while operating at a profit (correct)
- Providing only services to others
- Providing only goods to others
What is the main difference between goods and services?
What is the main difference between goods and services?
- Goods are intangible, services are things you can touch and see
- Goods are intangible, services are tangible
- Goods are intangible products, services are tangible products
- Goods are things you can touch and see, services are intangible (correct)
Who is an entrepreneur according to the text?
Who is an entrepreneur according to the text?
- A person who works for a business
- A person who buys goods for personal use
- A person who risks time and money to start and manage a business (correct)
- A person who provides goods and services without seeking profit
What is profit in the context of a business?
What is profit in the context of a business?
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How does the text describe the relationship between risk and starting a business?
How does the text describe the relationship between risk and starting a business?
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In what situation would starting a business be considered risky?
In what situation would starting a business be considered risky?
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