What type of entrepreneurial business sells products directly to the people?*ManufacturingRetailingWholesalingService
Question
What type of entrepreneurial business sells products directly to the people?
- Manufacturing
- Retailing
- Wholesaling
- Service
Solution
Analysis of Business Types
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Manufacturing: This involves producing goods, which are then sold to retailers or wholesalers, not directly to consumers.
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Wholesaling: Wholesalers purchase large quantities of goods from manufacturers and sell them to retailers, not directly to the end consumers.
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Retailing: Retail businesses sell products directly to the customers. This is the key characteristic of retailing, as it involves direct interaction with consumers.
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Service: This involves providing service rather than tangible goods. While it also targets consumers directly, the focus is on service provision rather than product sales.
Conclusion
Among the given options, Retailing is the type of entrepreneurial business that specifically sells products directly to the people.
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