5.1 Questions

1. What is Business?

-All of the activities involved in producing and marketing goods and services.

2. What are the two primary functions of business?

-The production and marketing of goods and services.

3. List Four ways that business can be categorized.

- Large, Small, Non Profit, Public, Private.

4.  Discuss the significance of e-commerce.

-E- Commerce opens up to a larger audience, A lot of the buying and selling we do is done through electronic device. For example when buying groceries the clerk scans your item through electronics.

5. Why would someone want to start a small business? Describe the success of a small business with which you are familiar.

-They wouldn't want to be run by the government since their business would be a private sector they would be free to do what they want with their business. In Reading there is a small business called "The Green Tomato" which is a popular catering restaurant that everyone knows about and goes to if they are from this town.