Goods, Services & Needs in Biz

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Key concepts in business mgmt

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sarah ayyad

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Goods, Services & Needs in Biz


Goods, Services & Needs in BizVersión en línea Key concepts in business mgmt por sarah ayyad 1 What is a good in business terms? a A tangible item b A service offered to customers c A financial asset d A customer complaint 2 Which best describes a service? a A stored inventory item b Intangible effort provided to meet a need c A physical product only d A raw material 3 What is a need in business terms? a An optional add-on product b A depreciated asset c A luxury desire with high price d A basic requirement essential for survival or operation 4 What is a want in business terms? a A legally required feature b A non-essential item driven by desire c A governmental mandate d A necessary production input 5 Which example is a good? a A laptop b Legal compliance service c Consulting session d Car wash subscription 6 Which example is a service? a Cable b Milk c Haircut d Desk 7 Which term best contrasts with needs? a Inventory b Profits c Wants d Goods 8 Which statement is true about goods and services? a Goods cannot be traded b Goods are tangible; services are intangible c Both are always high-cost d Both are always digital 9 In a business model, what do you call items customers buy for use? a Products (goods) b Training programs c Liabilities d Equities 10 In a service-based model, what is delivered to the customer? a A prepaid asset b An intangible performance or experience c A printed report only d A physical object with warranty 11 Why study needs and wants in business? a To reduce staff b To align offerings with customer demand and sustainability c To increase production costs d To ignore market signals 12 Which pair best describes consumer expectations? a Only wants matter in strategy b Goods define wants; services define needs c Prices define needs; packaging defines wants d Wants influence demand; needs define essential products Feedback 1 Goods are tangible items; services are intangible. 2 Services involve actions, experiences, or performances rather than physical goods. 3 Needs are essential, unlike wants which are desires. 4 Wants are non-essentials shaped by preferences. 5 Laptops are tangible goods; the others are services. 6 Haircut is an intangible performance; others are goods. 7 Wants are desires beyond essentials. 8 Tangible vs intangible is the typical distinction. 9 Products or goods are the items purchased for use. 10 Services deliver performances or experiences, not physical goods. 11 Understanding needs/wants helps value proposition and strategy. 12 Wants shape demand; needs define essential offerings.

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Goods, Services & Needs in BizVersión en línea

por sarah ayyad

What is a good in business terms?

Which best describes a service?

What is a need in business terms?

What is a want in business terms?

Which example is a good?

Which example is a service?

Which term best contrasts with needs?

Which statement is true about goods and services?

In a business model, what do you call items customers buy for use?

In a service-based model, what is delivered to the customer?

Why study needs and wants in business?

Which pair best describes consumer expectations?

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