Business Exploration Quiz – Revision

Which of the following best describes an intangible product?

• An item you can hold or touch

• A product you must sample before purchase

• A service or experience that can’t be touched or stored

• A product only used in factories

• A product made of soft or liquid materials

A salon adds complimentary head massages to improve the overall experience for customers. The massage can best be described as:

• Tangible product, because it involves physical touch

• Intangible product, because the relaxation felt can’t be packaged

• Tangible product, because it uses oils and tools

• Intangible product, because haircuts are paid for

• Tangible product, because the service is time-bound

A local gym offers online workout subscriptions alongside its in-person classes. This shift is an example of:

• Selling tangible products only

• Avoiding competition through pricing

• Adapting to changing customer needs with intangible products

• Investing in natural resources

Jenny launches a podcast series to promote mental wellness. She earns revenue through sponsorships and offers downloadable guides. Her core product is an example of:

• Natural resource

• Tangible product

• Financial resource

• Intangible product

• Manufactured good

A small software startup creates a mental health app that helps users track moods and connect with therapists. Which stakeholder group is most directly affected by its performance?

• Government regulators

• Employees developing the app

• Competitors in retail

• Environmental agencies

• Raw material suppliers

A fashion brand improves profitability by using recycled materials, cutting production time, and increasing marketing presence. This success is most likely due to:

• Ignoring stakeholder needs

• Emphasizing only tangible products

• Efficient management and responsible operations

• Relying on one type of resource

• Avoiding all government regulation

Which scenario best demonstrates the importance of financial resources in starting a new business?

• A. A bakery founder hires a full-time marketing team.

• B. A tech company sets its product pricing based on surveys.

• C. A restaurant raises capital to rent space and buy equipment.

• D. A freelancer gets help from a friend to create a logo.

• E. A student creates a social media account to share business ideas.

A bottled water company replaces its plastic wrapping with biodegradable plant-based materials. This action reflects:

• Revenue-focused marketing

• Corporate public relations

• Social Responsibility

“Read2Lead” is a publishing firm that donates one book to underprivileged schools for every purchase made by customers. This initiative shows responsibility towards:

• Investors

• Government

• Staff

• Community

• Retailers

A software developer spends 45 minutes each day watching YouTube videos during work hours using office Wi-Fi. Which ethical issue does this most closely relate to?

• Conflict of Interest

• Misuse of Company Time

• Workplace Harassment

• Insider Trading

• Plagiarism