INTRODUCTION TO BUSINESS MANAGEMENT CHAPTER 1 QUESTIONS AND ASWERS A+ GRADED. Buy Quality Materials!

INTRODUCTION TO BUSINESS MANAGEMENT CHAPTER 1 QUESTIONS
AND ASWERS A+ GRADED. Buy Quality Materials!

An example of a public want is a family wanting a new car. True or False
False
Unlike goods, services are performed for free. True or False
False
Resources are items used to make and provide goods and services. True or False
True
Competition among businesses hurts the consumer. True or False
False
Most people have unlimited wants for goods and services.
True
All of the following involve offering services except
A. Banking C. Sports and entertainment
B. DVDs D. Tourism
B; DVDs
For businesses to stay successful, they must offer
A. Quality products C. Competitive prices
B. Outstanding services D.all of the above
D; all of the above
When developing a product, a business must do all of the following except
A. Create a need for the product or service
B. Evaluate the demand for the product or service
C. Obtain start up and operating capital
D. Keep records to satisfy government requirements
A; create a need for the product or service
All of the following are resources except
A. Money C. Fuel
B. Transportation D. Labor
B; transportation
To avoid failure, a business can modify
A. Its products C. Its business practices
B. Its services D. All of the above
D; all of the above
_____ wants are wants that are widely shared by many people
Public
Most companies that sell goods also provide _____ to their customers
Services
Businesses must make thoughtful decisions that are consistent with their
_______.
Goals
_____ is the reward for satisfying the needs and wants of customers and
businesses.
Profit