Title: Identify the four types of businesses.
Course: Principles of Business and Marketing (12051-18) > Section: Exploring the Core Concepts of Business and Marketing

Identification should include the characteristics of the four types of businesses:

- Service—provides intangible products (e.g., repair shops, banks, accounting firms, law firms)
- Merchandising—buys products at wholesale price and sells the same at retail price; sells a product without changing its form (e.g., grocery stores, convenience stores, distributors, other resellers)
- Manufacturing—buys products with the intention of using them as materials in making a new product. Combines raw materials, labor, and factory overhead in its production process. Manufactured goods are sold to customers.
- Hybrid—classified in more than one type of business; may be classified according to their major business interest