THE FUTURE OF BUSINESS, 4TH CANADIAN EDITION BY LAURA ALLAN, CHRISTOPHER HARTT

Which of the following terms best describes an organization that provides goods and services in an effort to earn a profit? a. a not-for-profit b. the government c. a charity d. a business ANS: D PTS: 1 REF: 12 OBJ: 1 BLM: Remember 2. What do gasoline for a car, ketchup for french fries, and a lady’s scarf have in common? a. They are services. b. They are goods. c. They are “mixed message” products. d. They are all in the growth stage of their product life cycle. ANS: B PTS: 1 REF: 12 OBJ: 1 BLM: Higher order 3. What do Uno’s Pizzeria and LensCrafters have in common? a. Their products are examples of intermediate goods. b. Their products are a mix of goods and services. c. They offer pure goods. d. They provide pure services. ANS: B PTS: 1 REF: 12 OBJ: 1 BLM: Higher order 4. Body soap, a box of rice, and olive oil are examples of what? a. goods b. services c. convenience products d. actual products ANS: A PTS: 1 REF: 12 OBJ: 1 BLM: Higher order 5. Which term refers to the products and goods available to a population for a period of time?