These are items that are tangible, meaning that you can physically touch them
Wants
Goods
Services
Needs
15
These are things done for you by other people. They are intangible
Services
Needs
Goods
Wants
15
_____ is the difference between revenue of a business and its expenses
Goods
Profit
Revenue
Expenses
15
______ are funds that flow into a business from it primary activity, such as the sale of products
Revenue
Profit
Expenses
Operating Costs
15
______ are costs incurred by a business in the process of generating revenue
Expenses
Revenue
Profit
Operating Costs
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
Government Organizations
Hybrid Businesses
Non-Profit 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
Hybrid
Merchandising
Manufacturing
Service
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
Manufacturing
Merchandising
15
_______ businesses sell intangible goods to consumers
Merchandising
Service
Hybrid
Manufacturing
15
_____ businesses possess the qualities of multiple business types
Manufacturing
Service
Merchandising
Hybrid
15
______ is the process of recording, summarizing, and analyzing financial transactions for a business
Finance
Research & Development
Accounting
Marketing
15
_____ is the support, assistance, and interactions provided by a business to its customers before, during, and after a purchase
Human Resources
Marketing
Operations
Customer Service
15
_____ is the management of money, funds, and financial resources of an organization
Accounting
Operations
Finance
Management
15
______ is the department within a business that is responsible for managing human capital (the people that work for the business)
Operations
Managment
Human Resources
Customer Service
15
______ is the use of computers, software, hardware, networks, and other technologies to process, store, transmit, and manage information within a business
