Lesson 2.1
Which type of business takes resources from nature to make its products? Name several examples. The business that gets their resources from nature is Extractors. Some examples are oil refineries and mines. Oil drillers extract oil from the ground then it is used as a resource. Miners also get coal and other minerals from nature and use them for goods.
Why is raising capital critical to success of a business? Raising capital is critical to a business. Without capital there would not be money to start up the business. Without money the business could fall. Raising capital is important to a business, without it the business would get nowhere.
If you were to start any one of three types of businesses, and had access to all the resources …show more content…
Two marketing functions are distribution and price. The distribution is the place where a product is sold, an example would be Giant Eagle. Price is the cost or total amount needed to be paid for a product, so something like a shirt could be 8.99. Without these marketing functions it would be hard to sell things.
Explain why it is important for all businesses to be aware of the importance of marketing and what it involves. Being aware of the importance of marketing is important because if you don’t advertise the product correctly then no one would buy it. Businesses have to know the target age they are selling to to make the right advertisement. Marketing is the most important part of business because without it companies would not be able to get our their product there.
How do middle businesses in an indirect channel of distribution benefit consumers? The middle business makes it easier for customers because they are making the product more efficient. If there was not a middleman and the product was far way they would have to pay more for the product because it's coming from so far away. The middle person makes things more efficient for not only the business but the customer as
Which type of business takes resources from nature to make its products? Name several examples. The business that gets their resources from nature is Extractors. Some examples are oil refineries and mines. Oil drillers extract oil from the ground then it is used as a resource. Miners also get coal and other minerals from nature and use them for goods.
Why is raising capital critical to success of a business? Raising capital is critical to a business. Without capital there would not be money to start up the business. Without money the business could fall. Raising capital is important to a business, without it the business would get nowhere.
If you were to start any one of three types of businesses, and had access to all the resources …show more content…
Two marketing functions are distribution and price. The distribution is the place where a product is sold, an example would be Giant Eagle. Price is the cost or total amount needed to be paid for a product, so something like a shirt could be 8.99. Without these marketing functions it would be hard to sell things.
Explain why it is important for all businesses to be aware of the importance of marketing and what it involves. Being aware of the importance of marketing is important because if you don’t advertise the product correctly then no one would buy it. Businesses have to know the target age they are selling to to make the right advertisement. Marketing is the most important part of business because without it companies would not be able to get our their product there.
How do middle businesses in an indirect channel of distribution benefit consumers? The middle business makes it easier for customers because they are making the product more efficient. If there was not a middleman and the product was far way they would have to pay more for the product because it's coming from so far away. The middle person makes things more efficient for not only the business but the customer as