Understanding Business: Goods and Services

Which of the following best describes a business?

• A place where people meet for fun

• An organisation that provides goods or services to satisfy needs and wants

• A group of friends playing football

• A government office

Which of the following is an example of a tangible good?

• A haircut

• A mobile phone

• Online banking

• Insurance

Which of these is an example of a service?

• A loaf of bread

• A pair of shoes

• A bus journey

• A chocolate bar

What does 'tangible' mean when describing goods?

• Something you can see but not touch

• Something you can touch and feel

• Something you can only imagine

• Something that is invisible

Which of the following is an intangible product?

• A book

• A bicycle

• A music download

• A desk

What is the main role of businesses in society?

• To entertain people

• To provide goods and services to meet people's needs and wants

• To make rules for the country

• To organise sports events

Which of the following is NOT a type of service?

• Teaching

• Plumbing repairs

• Selling a car

• Hairdressing

Which of these is a characteristic of intangible products?

• They can be stored in a warehouse

• They can be touched and seen

• They cannot be touched or physically held

• They have a fixed shape

Which of the following is an example of a business providing both goods and services?

• A bakery selling bread only

• A mobile phone shop that also offers phone repairs

• A library lending books

• A taxi service

Which of the following is an example of an essential?

• Designer trainers

• Clean drinking water

• A gold watch

• A luxury holiday