Consumer Goods and Services Quiz
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Questions and Answers

What is an example of a consumable item?

  • Television
  • Laptop
  • Refrigerator
  • Rice (correct)

    • If a retailer buys goods from a wholesaler for resale, is the retailer considered a consumer?

  • Only if the goods are durable items
  • Depends on the quantity of goods purchased
  • No (correct)
  • Yes

    • What distinguishes durable consumer goods from consumable items?

  • Packaging and presentation
  • Purchase frequency
  • Cost and brand
  • Durability and intended use (correct)

    • What is the act of being an entrepreneur?

    <p>Undertaking innovations, finance, and business activities (B)</p> Signup and view all the answers

    Who can be termed as 'entrepreneurs'?

    <p>Self-employed individuals creating jobs for themselves and others (C)</p> Signup and view all the answers

    What distinguishes entrepreneurs from other self-employed individuals?

    <p>They create jobs for themselves and others (D)</p> Signup and view all the answers

    What is the primary role of entrepreneurs?

    <p>Undertaking innovations and business activities (B)</p> Signup and view all the answers

    What does entrepreneurship involve?

    <p>Designing and implementing a business strategy (D)</p> Signup and view all the answers

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