What do wants and needs have in common?

Both needs and wants are things people use.

Most car dealerships and beauty salons are classified as which type of business?

Combination product and service

What is a difference between wants and needs?

Needs are necessary for survival, wants are nice to have.

What is a difference between consumers and customers?

Customers purchase goods and services.

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EBE Section 1.01 & 1.02

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Beginning entrepreneurship definitions

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Questions 12

Answers

1
Homeless shelters and the Salvation Army are all classified as which type of business?
For-profit
Product type
Non-profit
Combination product and service
2
A business whose goal is to provide a service rather than to make a profit.
Non-profit
Partnership
Corporation
Franchise
3
What do wants and needs have in common?
Both needs and wants are goods.
Both needs and wants are things people use.
Both needs and wants are things people must have.
Both needs and wants are services.
4
Most car dealerships and beauty salons are classified as which type of business?
Product type
Non-profit
Service provider
Combination product and service
5
Barber shops, dry cleaners, and car repair shops are all classified as which type of business?
Service provider
Combination product and service
Non-profit
Product type
6
What is a difference between wants and needs?
Needs are necessary for survival, wants are nice to have.
Needs are services and wants are goods.
Needs are goods and wants are services.
Needs are nice to have, wants are necessary for survival.
7
Money that remains after a business has paid for the expenses of running the business.
Profit motive
Profit
Revenue
Goods
8
What is a difference between consumers and customers?
Customers purchase goods and services.
Consumers make goods and services.
Consumers purchase goods and services.
Customers make goods and services.
9
Clothing stores, CD stores, and electronics stores are which type of business?
Product type
Combination product and service
Non-profit
Service provider
10
A person who uses goods or services.
Owner
Customer
Employee
Consumer
11
Tasks that businesses perform or provide for customers, such as haircuts and car washes.
Goods
Wants
Products
Services
12
The Gap, Apple Store and IBM are all classified as which type of business?
Service provider
Non-profit
Combination product and service
For-profit

EBE Section 1.01 & 1.02 Flashcards | StudBud