Unit 1.1

Question 1

Adding value

Answer 1

The increased use of a product as it goes through the different stages of production

Question 2

Business

Answer 2

An organization engaged with comercial, industrial, or professional activities.

Question 3

Consumers

Answer 3

A person who engages in paying for goods and services that give personal benefit.

Question 4

Customers

Answer 4

A frequent consumer at a certain company.

Question 5

Entrepreneurs

Answer 5

A risk taker at starting a business of their own

Question 6

Entrepreneurship

Answer 6

managers of the growth of the enterprise of a business

Question 7

Factors of production

Answer 7

inputs used to produce a good or service in order to produce income.These can be considered the building blocks of an economy

Question 8

Finance and accounts

Answer 8

Financial accounting is the framework that dictates the rules, processes, and standards for financial record-keeping.

Question 9

Goods

Answer 9

Company merchandise or product

Question 10

MArketing

Answer 10

processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Question 10

Human resources (HR)

Answer 10

a group who is responsible for managing the employee life cycle and administering employee benefits.

Question 11

Needs

Answer 11

The urgent necessity towards a product or service that serves needed to a persons live.

Question 12

Primary sector

Answer 12

Companies that extract natural resources and perform agriculture. Examples include farming, fishing, forestry, and mining.

Question 13

Operations (or operations management)

Answer 13

managing the processes of producing and distributing products and services

Question 14

Quaternary sector

Answer 14

companies engaged in intellectual activities and pursuits.

Question 14

Production

Answer 14

The process of the making and producing of a product.

Question 15

Secondary sector

Answer 15

processing, manufacturing, and construction companies. using resources from the primary sector. For example, a baking factory that buys flour, sugar, milk, and cacao to produce cakes

Question 16

Tertiary sector

Answer 16

Companies that provide advanced services based on knowledge, such as information technology, research and development, consulting, and education. Examples include digital products like phones.

Question 16

Services

Answer 16

The maintenance of giving satisfaction to a consumer.

Question 17

Wants

Answer 17

the desire of a product or service that isnt an urgent need to life.