Question

35. In restaurants where the food itself is
the product sold and the catering is the
service provided.
(1 Point)
(a) Hybrid business
(b) Product business
(c) Service business
(d) None​

Answer 1

Answer:

(b) Product business

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Explanation:

Answer 2

Answer:

Business is an economic activity which is related with

continuous and regular production and distribution

of goods and services for satisfying human wants.

Businesses can be for-profit entities or nonprofit

organisations. Businesses cater to the needs of the

society. But sometimes we find that there is a gap

between what is needed and is available. This gap can

be used as an opportunity by some people who are

ready to take risk and fill the gap by providing necessary

products and services. Such people are entrepreneurs.

An entrepreneur is a person who is self-employed,

is willing to take a calculated risk and brings in a new

idea to start a business. It is, however, important to

understand that all self-employed persons are not

entrepreneurs, for example, a shopkeeper cannot be

called an entrepreneur unless he/she introduces a new

method or idea in the business.

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