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