Written by students who passed Immediately available after payment Read online or as PDF Wrong document? Swap it for free 4,6 TrustPilot
logo-home
Previously searched by you
Previously searched by you
logo
  • Business And Management
  • Business and Management
To add items to your wishlist, you must be logged in
Exam (elaborations)

Business Essentials Exam Study Guide QUESTIONS WITH ANSWERS

Rating
-
Sold
-
Pages
12
Grade
A+
Uploaded on
21-03-2026
Written in
2025/2026

Business Essentials Exam Study Guide QUESTIONS WITH ANSWERS

Institution
Business And Management
Course
Business and Management

Content preview

Business Essentials Exam Study Guide |\ |\ |\ |\ |\




QUESTIONS WITH ANSWERS |\ |\




Wants that are shared by many people are - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



ANSWERS ✔✔public wants |\ |\




Competition forces businesses to - CORRECT ANSWERS |\ |\ |\ |\ |\ |\ |\



✔✔lower their prices. |\ |\




Market research provides information that can help a
|\ |\ |\ |\ |\ |\ |\ |\



business - CORRECT ANSWERS ✔✔a. identify
|\ |\ |\ |\ |\ |\



opportunities. b. evaluate demand. c. respond to market |\ |\ |\ |\ |\ |\ |\ |\



goods and services.
|\ |\




Businesses supply goods and services - CORRECT |\ |\ |\ |\ |\ |\ |\



ANSWERS ✔✔to make a profit |\ |\ |\ |\




business may stop manufacturing a product because -
|\ |\ |\ |\ |\ |\ |\ |\



CORRECT ANSWERS ✔✔theres a decrease demand for it
|\ |\ |\ |\ |\ |\ |\




he basic needs of people include food, water, shelter and
|\ |\ |\ |\ |\ |\ |\ |\ |\



- CORRECT ANSWERS ✔✔clothing
|\ |\ |\ |\

, Businesses provide goods and services to satisfy wants
|\ |\ |\ |\ |\ |\ |\ |\



and - CORRECT ANSWERS ✔✔needs
|\ |\ |\ |\




Not a resource - CORRECT ANSWERS ✔✔transportation
|\ |\ |\ |\ |\ |\




The contest among businesses to win customers is called
|\ |\ |\ |\ |\ |\ |\ |\



- CORRECT ANSWERS ✔✔competition
|\ |\ |\ |\




To avoid failure, a business can modify - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\



ANSWERS ✔✔products, service, and business practices
|\ |\ |\ |\ |\




shortage of resources is called - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\



✔✔scarcity


Scarcity occurs when - CORRECT ANSWERS ✔✔demand
|\ |\ |\ |\ |\ |\ |\



exceeds supply |\




Not a factor of production - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\



✔✔educational resources |\




Some natural resources, such as wheat and cattle, are -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



CORRECT ANSWERS ✔✔renewable |\ |\
Report Copyright Violation

Written for

Institution
Business and Management
Course
Business and Management

Document information

Uploaded on
March 21, 2026
Number of pages
12
Written in
2025/2026
Type
Exam (elaborations)
Contains
Questions & answers

Subjects

  • business essentials exam study guide questions wit
R376,00
Get access to the full document:
Wrong document? Swap it for free Within 14 days of purchase and before downloading, you can choose a different document. You can simply spend the amount again.
Written by students who passed
Immediately available after payment
Read online or as PDF
Get to know the seller
Seller avatar
Reputation scores are based on the amount of documents a seller has sold for a fee and the reviews they have received for those documents. There are three levels: Bronze, Silver and Gold. The better the reputation, the more your can rely on the quality of the sellers work.
EXAMSTUDYPLUG
4,5
(239)

Get to know the seller

Seller avatar
Reputation scores are based on the amount of documents a seller has sold for a fee and the reviews they have received for those documents. There are three levels: Bronze, Silver and Gold. The better the reputation, the more your can rely on the quality of the sellers work.
EXAMSTUDYPLUG Stanford University
View profile
Follow You need to be logged in order to follow users or courses
Sold
367
Member since
3 year
Number of followers
107
Documents
20575
Last sold
4 days ago
GRADE BUDDY

Welcome to My Page! Are you looking for high-quality study resources to ace your exams or better understand your coursework? You've come to the right place! I'm passionate about sharing my knowledge and helping students succeed academically. Here, you'll find a wide range of well-organized notes, study guides, and helpful materials across various subjects, including Maths ,nursig, Biology, History, etc.. Each resource is carefully crafted with detailed explanations, clear examples, and relevant key points to help simplify complex concepts. Whether you're preparing for a test, reviewing lectures, or need extra support, my resources are designed to make your learning experience smoother and more effective. Let me be a part of your academic journey, and feel free to reach out if you have any questions or need personalized assistance!

Read more Read less
4,5

239 reviews

5
161
4
51
3
15
2
5
1
7

Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their exams and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can immediately select a different document that better matches what you need.

Pay how you prefer, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card or EFT and download your PDF document instantly.

Student with book image

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

Working on your references?

Create accurate citations in APA, MLA and Harvard with our free citation generator.

Learn more Create citation
Working on your references?

Frequently asked questions