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Mini-Quiz: Definitions of Basic Business Terms

by Ron Kurtus (revised 20 November 2011)

Take this Mini-Quiz to check your understanding of the lesson material.



1. What is the objective of a business?

To make a profit

To beat the competition

To provide work for people

2. Is ROI more important than money taken in?

No, because the more money brought in the better

Yes, because it is a true measure of profits

It is uncertain, because most companies have neither

3. How is a supplier important to your business?

A supplier provides little value to the company

Suppliers buy many of our goods

You cannot produce goods or services without supplied material

If you got all three correct, you are on your way to becoming a Champion in Business. If you had problems, you had better look over the material again.


Be clear


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