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Questions and Answers
Which of the following is the correct definition of a business?
Which of the following is the correct definition of a business?
- An organization engaged in commercial, industrial, or professional activities. (correct)
- A group effort of producers, distributors, banks, and insurance companies.
- An institution that operates to fulfill a charitable mission or social cause.
- A human activity directed towards buying and selling goods and services.
What are the two types of businesses mentioned in the text?
What are the two types of businesses mentioned in the text?
- For-profit and non-profit (correct)
- Commercial and industrial
- Organizations and entities
- Professional and charitable
What does the term 'business' refer to?
What does the term 'business' refer to?
- Acquiring wealth through buying and selling
- Group effort of producers and distributors
- Commercial activities for economic gain (correct)
- Production and distribution of goods and services
What is the main goal of every company's true business?
What is the main goal of every company's true business?
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Who contributes valuable services to satisfy consumer wants in a business?
Who contributes valuable services to satisfy consumer wants in a business?
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Which of the following is NOT a characteristic of a business?
Which of the following is NOT a characteristic of a business?
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What is the main purpose of a business?
What is the main purpose of a business?
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Which of the following is NOT mentioned as a contributor to a business?
Which of the following is NOT mentioned as a contributor to a business?
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What does the term 'business' refer to in relation to commercial activities?
What does the term 'business' refer to in relation to commercial activities?
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What are the two types of organizations that businesses can be?
What are the two types of organizations that businesses can be?
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