DR - End of Lesson 1 Business

What is the most important thing a business needs to do to be successful?

• Hire the most employees

• Spend a lot of money on advertising

• Meet the needs of its customers

• Have the biggest office

What is a profit?

• The money a business spends

• The money a business earns

• The cost of running a business

• The number of customers a business has

What is a cost?

• The money a business earns

• The money a business spends

• The number of customers a business has

• The price of a product

Why is it important for a business to keep track of its costs?

• To make sure it has enough money to pay its bills

• To decide how much to pay its employees

• To know how many customers it has

• To choose a name for the business

What is a budget?

• A list of all the things a business sells

• A plan for how a business will spend its money

• A record of all the money a business earns

• A list of all the customers a business has

What is marketing?

Why is it important for a business to advertise?

• To tell people about its products or services

• To make its products look more expensive

• To hire more employees

• To find a new location for its business

What is customer service?

• Making sure customers are happy

• Selling products to customers

• Keeping track of a business's finances

• Hiring employees for a business

Why is good customer service important?

• It can help a business attract new customers

• It can help a business keep its existing customers

• It can help a business build a good reputation

• All of the above

What is innovation?

• Making the same products as other businesses

• Coming up with new and better products or services

• Hiring more employees

• Spending a lot of money on advertising