6 Questions
What defines a business according to the text?
Providing goods and services while operating at a profit
What is the main difference between goods and services?
Goods are things you can touch and see, services are intangible
Who is an entrepreneur according to the text?
A person who risks time and money to start and manage a business
What is profit in the context of a business?
The amount of money a business earns above expenses
How does the text describe the relationship between risk and starting a business?
Starting a business involves risk
In what situation would starting a business be considered risky?
When there is no need for goods or services in the market
Test your knowledge of basic business concepts such as goods, services, entrepreneurship, and profitability. Learn about the fundamental principles that drive successful businesses forward.
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