Business Essentials Review

Match the following task with its correct activity

• Production of Products

• Financial activity

• Collecting money from sales

• Operational activity

• Purchasing a new vehicle

• Investing activity

Businesses sell their products to ______________to make profits

A ​ (a)   is something essential to survival and a ​ (b)   is something we desire but could ultimately live without.

• need
• want
• product
• market

A ​ (a)   is a tangible item that is produced and sold to consumers. A ​ (b)   is a performance or task done in exchange for money.

• good
• service
• want
• need

An _____________ is a person who organizes, operates, and assumes the risk for a business venture.

• Entrepreneur
• Employee
• Investor
• Manager

Match the following business model with its definition.

• the opening of a chain restaurant

• Direct Sales

• services are free but later charged

• Freemium

• sells product directly to a consumer.

• Franchise

• Pay upfront for a monthly product

• Subscription

Match the following business model with the example.

• Mcdonalds

• subscription

• Netflix

• freemium

• Roblox

• Direct sales

• Target

• franchise

The goal of a business is to earn money by making a ________.

• profit

• living

• sacrifice

• choice

A ________________ is a series of documents that serve as a blueprint for building a business.

• Business Plan

• Business Card

• Business Meeting

• Business Trip

What is the precise course of action a company plans to take in order to make a profit?

• Business Model

• Company Hierarchy

• Employee Benefits

• Company Culture