1.01-Understand the Purpose and Functions of Business

Which of the following is not one of the six functions of a business?

An example of a good is clothing, while an example of a service is a hairdresser.

Customers..........goods or services.

Needs are things that are necessary for survival.

The use of technology to communicate throughout the organization is which function?

....is the desire to make money and one of the main motivations to start a business.

Customers make goods and services.

Products are physical goods or services that can satisfy consumer needs.

Wants are not necessary for our survival but add pleasure and comfort to our lives.

The management of personnel relations within a company is which function?

An example of a want is water.

Which of the following is not one of the six functions of a business?

Satisfying needs and wants of consumers through exchange is which function?

Making sure the organization meets its goals and obligations is the job of this function.

Businesses fulfill the needs and wants of the consumers by selling goods, but not services.

The system of recording and reporting financial activity and transactions is which function?

Competition in the marketplace is a motivation to start a business.

Collecting money from customers, paying taxes, and processing payroll checks are examples of...

The "back office" that involves all the behind the scenes paperwork is which function?

Consumers.....goods or services.

A consumer is someone who uses goods or services.

An example of a need is an iPhone 5.