Identifying products and Services

It is an activity or an idea that satisfies the needs and demands of customers. 

• Products

• Service

• Consumable goods

• Non-consumable goods

Answer explanation

A service is an activity or an idea that can satisfy the customer’s needs and demands. 

Products like bread, banana, notebook, and juice are an example of:

• Products

• Service

• Consumable goods

• Non-consumable goods

Answer explanation

consumable goods or non-durable goods are those products that have a short life cycle. Examples of it are Beauty Products and Food products.

A tangible item that can be made manually or by a machine.

• Product

• Service

• Consumable goods

• Non-consumable goods

Answer explanation

A product is a tangible item that is put on the market for acquisition, attention, or consumption. They can be made manually or by a machine.

Which of the following has a combination of products and services?

• Calli creates and designs beautiful pots.

• Amelia sells her famous tonkatsu in her neighborhood.

• Miko bought the latest version of Resident Evil Village.

• Noel bought 2 more computers to add to her computer shop business.

Answer explanation

A combination of products and services is sometimes employed to increase revenue and create innovative products. For example, buying a computer for a computer cafe.

Below are the lists of factors to help establish your business EXCEPT: 

• Supply

• Profit

• Prices of the products and services

• Demands and needs of customers in your area

Answer explanation

Factors to help you with your business. 

1. Quality

2. Prices of the products and services

3. Demands and needs of the customers in the area

4. Types of products and services offered

5. Competitors

6.Supply

Marine was about to drive to her father's house when her car broke down, what service should she get?

• Nail spa

• Laundry shop

• Vulcanizing shop

• Cafeteria and Carinderia

Answer explanation

One example of a business in our community is vulcanizing shops. It involves the use of different tools and equipment for repairing vehicles.

 Ina is looking for a job, with her expertise in acupuncture, shiatsu, and other therapeutic services. Where should she apply?

• Laundry shop

• Nail spa or Nail Salon

• Bag and shoe repair shop

• Reflexology clinic or spa

Answer explanation

A reflexology clinic or spa offers relaxing therapeutic services that allow the customer to relax and be relieved from any ailment that he or she seeks. It provides different types of massage on the other parts of the customer's body.

Beds, televisions, tablets, and computers are what kinds of products?

• Product

• Service

• Consumable goods

• Non-consumable goods

Answer explanation

Non-consumable products or also known as durable goods are products that can be used for a long period of time.  A few examples include land, cars, clothes, gadgets, and shoes.

Which of the following examples are handmade products?

• Basket

• Clothes

• Automobile

• hoodie/jacket

Answer explanation

Products are either made manually or handmade. Handmade products are produced by hands like basket, earings and candles.

They are involved in taking risks and generating ideas for their company to thrive.

• Pilot

• Vendor

• Seamstress

• Entrepreneur

Answer explanation

An entrepreneur is a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.