What is Business?

​Now, I am going to ask you a few questions to see what you have learned.

​

Match

Match the following types of business to their descriptions.

• Retail

• Service

• Manufacturers

• Hybrid

This type of business buys products from a manufacturer, wholesaler, & sells the goods at retail.

Sells intangible goods to the consumers. For ex. car washing or landscaping

The producers who develop the product and sell it. For ex. Nike

Businesses that have the characteristics of two or more types of businesses. For ex. restaurants

• This type of business buys products from a manufacturer, wholesaler, & sells the goods at retail.

• Sells intangible goods to the consumers. For ex. car washing or landscaping

• The producers who develop the product and sell it. For ex. Nike

• Businesses that have the characteristics of two or more types of businesses. For ex. restaurants

Multiple Choice

A business is an organization that offers goods and services.

• True

• False

Multiple Choice

Non-profits are not businesses.

• True

• False

Multiple Choice

Hybrid businesses have two or more characteristics of the different types of businesses.

• True

• False

Multiple Choice

A financial a financial reward that comes from starting and running a business is called a/n

• Expense

• Liability

• Profit

• Owner's Equity