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English 20 Public

Business Foundation

Study Slideshow

The primary goal of all businesses is ........

Profit

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A business is earning profit by ...............

satisfying people's needs

15

What is the difference between wants and needs?

(Wants) things that you do not have, but would like to have. (Needs) things that you must have in order to survive

20

There are two types of businesses. what are they?

Products & services

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Not all organizations are businesses. Organizations for charities and social causes are called ...........

Non-profit Organizations

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Marketing main focus is the ...................

costumers

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If a business fails to make a profit the one who have the most to lose is .......

the owner

15

The study of resources distributed for the production of goods and services within a social system is called

economy

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Who is the founder of communism?

Karl Marx

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Name three economic systems.

1. Communism 2.Capitalism 3. Socialism 4. Mixed economies

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Who is the founder of Capitalism?

Adam Smith

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The free enterprise system can work within one economy system. Name it

Capitalism

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What does free market system means?

All economic decisions are made without the interference of the government.

20

Name 2 comunist countries

Russia, Poland ,Hangary

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Name one socialist country

Denmark

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Name 2 Capitalist Countries

USA , Canada , Japan , Australia

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