I. Choose the best answer that will complete each statement. Circle the letter of your answer.

1. It is a guide that includes the specific tasks and goals to be achieved, identifies needed resources and
timeliness for completion of a project.
A. Project Plan B. Expenses C. Product D. Evaluation

2. It is a person who buys or agrees to buy goods or avail services in exchange for money.
A. Seller B. Buyer C. Entrepreneur D. Producer

3. These are desires for goods and services we would like to have.
A. Needs B. Demand C. Wants D. Leisure

4. These refer to things we must have to survive like food, water, and shelter.
A. Products B. Services C. Wants D. Needs

5. It is something that is manufactured following a process; grown or nurtured. It can be a service or
an item, in order to be sold for a profit.
A. Project Plan B. Expenses C. Product D. Evaluation




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