10 Questions
Which of the following is not a common type of business model described in the text?
Consultant
A business that purchases products from a manufacturer and resells them to retailers or the public is known as a:
Distributor
Which type of business model involves a company selling its own finished products directly to customers?
Manufacturer
A business model where a company grants third-parties the right to use its business practices, trademark, and name in exchange for a fee is known as a:
Franchise
Which of the following is not a key element of a business model as described in the text?
Key Resources
Which of the following is not a reason why a business model is important?
It makes the business concept clear
A business that sells products directly to the public after purchasing them from a distributor or wholesaler is known as a:
Retailer
Which of the following is not a key aspect of a business model according to the text?
The business's organizational structure
What is the primary purpose of a business model according to the text?
To provide a reason for customers to choose the company's offering
Which of the following business models involves a company manufacturing its own products from raw materials?
Manufacturer
Test your knowledge on different business models including franchise, brick-and-mortar, ecommerce, and bricks-and-clicks. Learn about the concept of franchising and the different approaches to conducting business in today's market.
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