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Business Essentials Complete Preparation Guide With Business Environment And Organizational Structure Review

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Institution BUSINESS ESSENTIALS
Course BUSINESS ESSENTIALS
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BUSINESS ESSENTIALS COMPLETE PREPARATION GUIDE WITH BUSINESS ENVIRONMENT AND ORGANIZATIONAL STRUCTURE REVIEW

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BUSINESS ESSENTIALS COMPLETE
PREPARATION GUIDE WITH BUSINESS
ENVIRONMENT AND ORGANIZATIONAL
STRUCTURE REVIEW

◉ Competition forces businesses to.
Answer: lower their prices.


◉ Market research provides information that can help a business.
Answer: a. identify opportunities. b. evaluate demand. c. respond to
market goods and services.


◉ Businesses supply goods and services.
Answer: to make a profit


◉ business may stop manufacturing a product because.
Answer: theres a decrease demand for it


◉ he basic needs of people include food, water, shelter and.
Answer: clothing

, ◉ Businesses provide goods and services to satisfy wants and.
Answer: needs


◉ Not a resource.
Answer: transportation


◉ The contest among businesses to win customers is called.
Answer: competition


◉ To avoid failure, a business can modify.
Answer: products, service, and business practices


◉ shortage of resources is called.
Answer: scarcity


◉ Scarcity occurs when.
Answer: demand exceeds supply


◉ Not a factor of production.
Answer: educational resources


◉ Some natural resources, such as wheat and cattle, are.

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