Choose True or False.

Question

A service is a physical item you buy, while a good is an action someone does for another.

Shareholders are individuals who own pieces, or shares, of a company.

A need is something a consumer must have, such as food, shelter, and transportation. A want includes items that are not necessary, such as electronics, vacations, or books.

For-profit businesses exist to earn a profit whereas non-profit businesses exist to meet the needs of a community.
answers true or false

Answer 1

1. False - A service is an action or activity performed for someone, while a good is a physical item that can be bought or sold.

2. True - Shareholders are individuals who own shares of a company.

3. True - A need is something a consumer must have, while a want includes items that are not necessary.

4. True - For-profit businesses exist to earn a profit, whereas non-profit businesses exist to meet the needs of a community.