EBS Chp 1 Intro to Biz Quiz_1 Flashcard

Front

A business main purpose is to meet the needs and wants of customers.

Back

True

Front

How do businesses benefit the community?

Back

Providing goods and services to the people

Front

Businesses that sell similar goods and services that meet the same needs of the customers

Back

direct competition

Front

Are needs goods and services not necessary for survival but which one would like to have?

Back

False

Front

Wants are goods and services that are not necessary for survival but which one would like to have.

Back

True

Front

Are needs goods & services necessary for one's survival?

Back

True

Front

Indirect competition is when 2 businesses sell similar goods and services that meet the same needs of the customer.

Back

true

Front

Which of the following is not a need? handphone, breakfast, drinking water, housing

Back

handphone

Front

Which of the following is a want? Food, Clothing, Water, Car

Back

Car

Front

Customers are people who buy goods & services from a business.

Back

True