Podcast
Questions and Answers
What is the primary motivation of non-profit organizations?
What is the primary motivation of non-profit organizations?
- To maximize profits for the owners
- To acquire and sell goods and services
- To compete with for-profit organizations
- To raise funds for a specific goal to help people in the community (correct)
What is the formula to calculate profit or loss?
What is the formula to calculate profit or loss?
- Revenue - Expenses (correct)
- Revenue + Expenses
- Revenue / Expenses
- Revenue * Expenses
Which type of business is owned by one person?
Which type of business is owned by one person?
- Cooperative
- Sole proprietorship (correct)
- Partnership
- Corporation
What does a non-profit organization do with any surplus funds?
What does a non-profit organization do with any surplus funds?
What is the difference between goods and services?
What is the difference between goods and services?
What is the primary purpose of for-profit organizations?
What is the primary purpose of for-profit organizations?
What is the primary advantage of a partnership business?
What is the primary advantage of a partnership business?
What is the main disadvantage of a corporation?
What is the main disadvantage of a corporation?
What is the key difference between a consumer and a customer?
What is the key difference between a consumer and a customer?
What defines indirect competition?
What defines indirect competition?
Which factor of production refers to goods that come from the Earth?
Which factor of production refers to goods that come from the Earth?
What is another type of good/service apart from natural resources, raw materials, labour, and capital?
What is another type of good/service apart from natural resources, raw materials, labour, and capital?
Which law refers to the quantity of goods or service that businesses are willing and able to provide within a range of prices?
Which law refers to the quantity of goods or service that businesses are willing and able to provide within a range of prices?
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