EBS Chapter 1: Introduction to Business

What is a business?

• Goods and services that are necessary for survival

• Goods and services that are not necessary for survival

• an organisation that meets the needs and wants of customers

• someone who buys goods and services

How do businesses benefit the community?

• providing goods and services to the people

• providing jobs for the people

• providing a place for people to spend their money

• contributing to the wealth of the country

What are some features of goods?

• can be seen and touched

• cannot be seen or touched

• can be taken home

• cannot be taken home

• can be mass produced

Goods-producing businesses produce goods with the use of (a)   such as machines and labour.

Service-providing businesses provide services that can be experienced when sellers (a)   with customers.

Which of the following is NOT an example of a capital resource?

• Money used to start the business

• Office building

• CEO

• Machinery

Which of the following is an enterprise resource?

• Owner

• Staff

• Equipment

• Ingredients

Which of the following is NOT a land resource?

• sea

• petroleum

• farmland

• factory

Check all the boxes that represent labour resource:

• Chef

• Concierge

• Sales manager

• Gardener

• Human resource executive

(a)   refer to changes in the world that will impact a business and its customers.