A Service business ...

is NOT directly concerned with producing physical goods

Retailers (pure retailers, NOT like Costco)...

buy goods from wholesalers and manufacturers and resell them to consumers

Extractive businesses ...

grow products or take raw materials from where they are found in nature

Wholesalers (pure wholesalers, NOT like Costco)...

buy goods from manufacturers and resell them to retailers

A Cottage Industry ...

is a business or manufacturing activity carried on in a person's home

Manufacturing means ...

producing goods by using labor, machinery, tools, and/or processing

The 2 main types of Retailers are...

Store-based and Non Store-based

Selling merchandise & services to consumers

Wholesaling means ...

Selling merchandise in bulk to retailers

Subcontracting means ...

Hiring a business outside the company to work on part of a larger project

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Entrepreneurship - Major Fields of Business Activity

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Answers

1
A Service business ...
IS directly concerned with manufacturing
is NOT directly concerned with producing physical goods
IS directly concerned with producing physical goods
is NOT directly concerned with providing service
2
Retailers (pure retailers, NOT like Costco)...
buy goods from wholesalers and resell them to manufacturers
buy goods from wholesalers and manufacturers and resell them to consumers
buy goods from manufacturers and resell them to retailers
buy goods from wholesalers and resell them to retailers
3
Extractive businesses ...
grow products or take raw materials from where they are found in nature
return raw materials to where they were found in nature
include dentists and oral surgeons
grow raw materials not found in nature
4
Wholesalers (pure wholesalers, NOT like Costco)...
buy goods from manufacturers and resell them to retailers
buy goods from consumers and resell them to retailers
buy goods from retailers and resell them to manufacturers
buy goods from manufacturers and resell them to consumers
5
A Cottage Industry ...
is an extractive activity carried on in a person's home
must be based in a cottage, not a cabin or houseboat
is a business or manufacturing activity carried on in a person's home
makes only cottage cheese
6
Manufacturing means ...
producing service by using labor, machinery, tools, and/or processing
NOT directly concerned with producing physical goods
producing goods by using labor, machinery, tools, and/or processing
directly concerned with providing service
7
The 2 main types of Retailers are...
Store-based and Non Store-based
Manufacturer-based and Non Manufacturer-based
Retail-based and Non Retail-based
Wholesale-based and Non Wholesale-based
8
Retailing means ...
Selling merchandise & services to investors
Selling merchandise & services to retailers
Selling merchandise & services to consumers
Selling merchandise & services to businesses
9
Wholesaling means ...
Selling merchandise in bulk to wholesalers
Selling merchandise in bulk to retailers
Selling merchandise to investors
Selling services to businesses
10
Subcontracting means ...
Hiring a business inside the company to work on part of a larger project
Hiring a business outside the company to work on part of a larger project
Hiring a person inside the company to work on part of a larger project
Hiring a business inside the company to work on part of a larger project

Entrepreneurship - Major Fields of Business Activity Flashcards | StudBud