BM Chapter 6 Review

Most businesses currently operating in the United States are manufacturing firms.

• True

• False

Businesses vary in size from one employee to more than a million employees.

• True

• False

An organization that produces or distributes a good or service for profit is called a business.

• True

• False

Service businesses produce goods.

• True

• False

Marketing deals with money matters related to running a business.

• True

• False

The supply of a product refers to the number of similar products that will be bought at a particular point in time and at a particular price.

• True

• False

Businesses that produce goods that other businesses use to make things are called goods-producing businesses.

• True

• False

Banks and investment companies are classified as goods-producing businesses.

• True

• False

Because a government provides fire and police protection, it can be considered an industry.

• True

• False

Service businesses are growing faster than goods-producing businesses.

• True

• False