Questions and Answers
Which of the following best describes the concept of production or procurement of goods and services?
The process of creating or obtaining goods and services
What is the main purpose of dealing in goods and services on a regular basis?
To satisfy human beings
Which of the following is a key element of risk in the context of goods and services?
The uncertainty involved
True or false: Profit earning is a key element of risk in the context of goods and services?
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True or false: The main purpose of dealing in goods and services on a regular basis is to satisfy human beings?
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True or false: Uncertainty is a return element in the production or procurement of goods and services?
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