What is the definition of 'business'?
Business Terms Quiz

Quiz
•
Business
•
9th - 12th Grade
•
Hard
Theresa Lewis
Used 9+ times
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An activity to make a loss
An activity for entertainment
An activity to satisfy needs
An activity to make a profit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are 'needs' in the context of business?
Things that are harmful
Things that are not important
Luxurious things in life
Essential things in life
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are 'wants' in the context of business?
Essential things in life
Things that are harmful
Luxurious things in life
Things that are not important
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is a 'customer'?
A person that buys or consumes goods or services
A person that sells goods or services
A person that manufactures goods or services
A person that doesn't engage in business
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is 'profit' in business?
The total costs of a business
The surplus remaining after total costs are deducted from total revenue
The investment made in a business
The total revenue of a business
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are 'goods' in the context of business?
Intangible commodities that we cannot see, feel, and touch
Money or resources used to start a business
Tangible commodities that we can see, feel, and touch
Services provided by businesses
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are 'services' in the context of business?
Intangible commodities that we cannot see, feel, and touch but has the power to satisfy us
Tangible commodities that we can see, feel, and touch
The surplus remaining after total costs are deducted from total revenue
The investment made in a business
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