Exploring Business Types

What is a retail business?

• A retail business manufactures products for wholesale distribution.

• A retail business provides services exclusively to other businesses.

• A retail business is a type of non-profit organization.

• A retail business sells goods or services directly to consumers.

Name one type of retail business.

• Clothing store

• Electronics shop

• Furniture outlet

• Grocery store

What do service-based businesses provide?

• Products that are sold directly to consumers.

• Services that fulfill customer needs or solve problems.

• Software that automates business processes.

• Physical goods that require inventory management.

Give an example of a service-based business.

• Consulting firm

• Retail store

• Manufacturing plant

• Online marketplace

What is the main purpose of a manufacturing business?

• To manage financial investments in the market.

• To provide services to customers.

• To produce goods from raw materials.

• To sell raw materials to other businesses.

Name one product that a manufacturing business might make.

• furniture

• toys

• clothing

• electronics

How do retail businesses sell their products?

• Retail businesses sell products exclusively via vending machines.

• Retail businesses sell products solely through trade shows.

• Retail businesses sell their products through physical stores, online platforms, and direct sales.

• Retail businesses sell products only through television ads.

What is a key feature of service-based businesses?

• Physical products sold by retailers.

• Intangible services provided by skilled professionals.

• Tangible goods provided by untrained workers.

• Services that require no professional skills.

Can a business be both retail and service-based?

• No, a business can only be retail.

• Yes, a business can be both retail and service-based.

• No, service-based businesses cannot sell products.

• Yes, but only if it sells food.

What is an example of a manufacturing business?

• Car manufacturing company

• Consulting agency

• Software development firm

• Grocery store