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Questions and Answers
What is the main goal of a business according to the text?
What is the main goal of a business according to the text?
- Provide things people want/need
- Maximize revenue and minimize expenses
- Create a positive benefit for the owner
- Satisfy customer needs and make a profit (correct)
What is revenue for a business?
What is revenue for a business?
- Money received from customers (correct)
- The positive benefit from running a business
- Money used for anything of the owner's desire
- Cost to provide products and generate revenue
What is the profit motive for starting a business?
What is the profit motive for starting a business?
- Chance to make a profit (correct)
- Desire to create a positive benefit for the owner
- Opportunity to minimize expenses
- Ability to rely on government/donors for funds
What distinguishes a not-for-profit organization from a business?
What distinguishes a not-for-profit organization from a business?
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What is the cost to provide products and generate revenue known as?
What is the cost to provide products and generate revenue known as?
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