Lesson 1 Flashcards
1
Q
- a collection of persons working together for a common purpose
A
Organization
2
Q
- group of individuals who are cooperating willingly and effectively for a common end
A
Organization
3
Q
- made up of people and their relationships with one another
A
Organization
4
Q
- a group of people with varied skills, which used property or talents, to produce goods and services, which can be sold to others for more than their costs.
A
Business Organization
5
Q
Kinds of Business
A
Commerce
Industry
Services
6
Q
the transfer or exchange of goods and services with the movement of goods from point of production to point of consumption.
A
Commerce
7
Q
primarily concerned with the creation of form utility or the production of goods
A
Industry
8
Q
Agriculture & Forestry
A
Genetic industry
9
Q
Mining
A
Extractive industry
10
Q
Finished product
A
Manufacturing Industry
11
Q
Infrastructure
A
Construction industry
12
Q
Cater to personal needs of people
A
Services
13
Q
A. Recreation
B. Personal
C. Finance
A
Services
14
Q
- Creation and distribution of products
- Personal satisfaction – profits, salaries
- Protection/enhancement of resources
- Economy and effectiveness of operation
A
Objectives of Business
