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Business 101 Chapter 1 Updated Actual Questions And Correct Answers

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BUSINESS 101 CHAPTER 1 UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS

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BUSINESS 101 CHAPTER 1 UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS

Question:
1. individuals or organizations who try to earn a profit by providing products that
satisfy people's needs




Answer:
Business

Question:
2. goods or services with tangible and intangible characteristics that provide
satisfaction and benefits




Answer:
Products

Question:
3. study of how resources are distributed for the production of goods and services
within a social system




Answer:
Economics

, Question:
4. Natural resources

Answer:
land, forests, minerals, water, and other things that are not made by people




Question:
5. human resources ( Labor)

Answer:
The physical and mental abilities people use to produce goods and services




Question:
6. financial resources (capital)

Answer:
the funds used to acquire the natural and human resources needed to provide
products

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