BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Retail business
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Service business
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Product business
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Detailed explanation-1: -A service business is a business that performs tasks on behalf of its client. The main selling point of all service businesses is that they save their clients time. Many service businesses also perform tasks to a higher standard than their clients could do themselves.
Detailed explanation-2: -A service business is a company that performs tasks for the benefit of their customers. These tasks can include transportation, cleaning, traveling, hospitality, maintenance or consulting.
Detailed explanation-3: -Examples of pure service businesses include airlines, banks, computer service bureaus, law firms, plumbing repair companies, motion picture theaters, and management consulting firms.
Detailed explanation-4: -From an economic perspective, service businesses are also known as the tertiary industry or sector.