Questions and Answers
Match the following terms to their definitions in the context of Business Management:
Business = Decision-making organization involved in the process of using inputs to produce goods or provide services Inputs = Resources such as labour, raw materials, components, machinery & equipment used in the production process Processes = Actions that turn inputs into manufactured goods or the provision of services Outputs = Products (goods & services) generated from the process
Match the following terms to their definitions in the context of Business Management:
Needs = Basic necessities such as food, water, warmth, shelter, clothing Wants = Desires such as cake, a new phone, a vacation, a toy Customer = People or organizations who buy a product Consumer = The ones who actually use the product
Match the following terms to their definitions in the context of Business Management:
Inputs = Resources such as labour, raw materials, components, machinery & equipment used in the production process Processes = Actions that turn inputs into manufactured goods or the provision of services Outputs = Products (goods & services) generated from the process Consumer = The ones who actually use the product
Match the following terms to their definitions in the context of Business Management:
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Match the following terms to their definitions in the context of Business Management:
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Study Notes
Matching Terms to Definitions
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