Chapter 1 Exam - Principles Of Business, Marketing, And Finance

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1. Things we wish we could have.
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Chapter 1 Exam - Principles Of Business, Marketing, And Finance - Quiz

Chapter 1 - A Look at Wants and Needs

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2. Things we must have to survive.
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3. The amount of money left over after a business has paid for the cost of producing its goods and services.
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4. The contest between businesses to win customers.
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5. The more education you have, the better your income in business usually is. 
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6. Anything that people can use to make or obtain what they want or need.
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7. Material things that can be weighed or measured.
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8. Tasks that people or machines perform.
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9. This is a WANT.
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10. Consumer is another word for customer.
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11. The two motivations of businesses are profit and competition.
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12. A person who selects, purchases, uses, or disposes of goods or services.
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13. When a product is no longer produced, it is called
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14. This is a SERVICE business.
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15. Any activity that seeks profit by providing goods or services to others
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16. All of these are steps in the decision-making process EXCEPT.
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17. This is a NEED.
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18. A babershop is an example of a GOODS business.
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19. This is a SERVICE business.
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20. The problem with unlimited wants and limited resources is that we have more money than we have wants.  This means that we have the money to buy EVERYTHING we want, but we just choose not to.
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Things we wish we could have.
Things we must have to survive.
The amount of money left over after a business has paid for the cost...
The contest between businesses to win customers.
The more education you have, the better your income in business...
Anything that people can use to make or obtain what they want or need.
Material things that can be weighed or measured.
Tasks that people or machines perform.
This is a WANT.
Consumer is another word for customer.
The two motivations of businesses are profit and competition.
A person who selects, purchases, uses, or disposes of goods or...
When a product is no longer produced, it is called
This is a SERVICE business.
Any activity that seeks profit by providing goods or services to...
All of these are steps in the decision-making process EXCEPT.
This is a NEED.
A babershop is an example of a GOODS business.
This is a SERVICE business.
The problem with unlimited wants and limited resources is that we have...
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