These are items that are tangible, meaning that you can physically touch them
Wants
Services
Goods
Needs
15
These are things done for you by other people. They are intangible
Goods
Services
Needs
Wants
15
_____ is the difference between revenue of a business and its expenses
Expenses
Profit
Revenue
Goods
15
______ are funds that flow into a business from it primary activity, such as the sale of products
Profit
Expenses
Revenue
Operating Costs
15
______ are costs incurred by a business in the process of generating revenue
Expenses
Profit
Revenue
Operating Costs
15
When an organization provides goods or services without seeking a profit, it is not a business
False
True
15
__________ operate for charitable or social purpose, providing services such as healthcare, education, and community development
Non-Profit Organizations
Hybrid Businesses
LLC
Government Organizations
15
This type of business develops a product and sell it either directly to the customer or to some type of middleman, like a wholesaler or retailer
Merchandising
Manufacturing
Hybrid
Service
15
_______ is a business strategy in which products are purchased from manufacturers, wholesalers, or other middlemen, and are sold at the retail price
Merchandising
Hybrid
Manufacturing
Service
15
_______ businesses sell intangible goods to consumers
Merchandising
Service
Hybrid
Manufacturing
15
_____ businesses possess the qualities of multiple business types
Hybrid
Service
Merchandising
Manufacturing
15
______ is the process of recording, summarizing, and analyzing financial transactions for a business
Finance
Marketing
Research & Development
Accounting
15
_____ is the support, assistance, and interactions provided by a business to its customers before, during, and after a purchase
Human Resources
Operations
Customer Service
Marketing
15
_____ is the management of money, funds, and financial resources of an organization
Finance
Operations
Accounting
Management
15
______ is the department within a business that is responsible for managing human capital (the people that work for the business)
Operations
Managment
Customer Service
Human Resources
15
______ is the use of computers, software, hardware, networks, and other technologies to process, store, transmit, and manage information within a business
