Podcast
Questions and Answers
Business may be undertaking of a person or a group of people investing money, property, or skills with a primary goal of gaining ______.
Business may be undertaking of a person or a group of people investing money, property, or skills with a primary goal of gaining ______.
profit
Service businesses is a rendering service for a certain fee, for example, medical services, legal ______, and etc.
Service businesses is a rendering service for a certain fee, for example, medical services, legal ______, and etc.
management
Merchandising or Trading or Commerce is a buying and selling ______, for example, Savemore, Puregold, etc.
Merchandising or Trading or Commerce is a buying and selling ______, for example, Savemore, Puregold, etc.
goods
Production and Manufacturing is a process to convert raw materials into finish ______.
Production and Manufacturing is a process to convert raw materials into finish ______.
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Which type of business involves buying and selling goods?
Which type of business involves buying and selling goods?
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What is the primary goal of a person or group of people undertaking a business?
What is the primary goal of a person or group of people undertaking a business?
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Which type of business involves rendering services for a fee?
Which type of business involves rendering services for a fee?
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What is the process of converting raw materials into finished products known as?
What is the process of converting raw materials into finished products known as?
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Study Notes
Business Overview
- A business is an undertaking by a person or group of people investing money, property, or skills with a primary goal of gaining profit.
Types of Businesses
- Service businesses render services for a fee, examples include medical services and legal services.
- Merchandising or Trading or Commerce involves buying and selling goods, examples include Savemore and Puregold.
Production Process
- Production and Manufacturing is the process of converting raw materials into finished products.
Key Concepts
- The primary goal of a person or group of people undertaking a business is to gain profit.
- Merchandising or Trading or Commerce involves buying and selling goods.
- Service businesses render services for a fee.
- Production and Manufacturing is the process of converting raw materials into finished products.
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Description
Test your knowledge about different types of business, including service businesses, merchandising, and production and manufacturing. Explore the various ways people invest money, property, or skills with the primary goal of gaining profit.
