ENTREPRENEURSHIP

INTRODUCTION TO ENTREPRENEURSHIP

CHARACTERISTICS OF AN ENTREPRENEUR

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
____ businesses buy goods and resell them in small quantities directly to consumers, who are the final buyers
A
manufacturing
B
service
C
retail
D
wholesale
Explanation: 

Detailed explanation-1: -A trader who sells goods in small quantities to the buyers is known as a retailer. Traders purchase the goods from the wholesaler and then sell the final goods to the consumers.

Detailed explanation-2: -Wholesalers operate as middlemen between product manufacturers and retailers or other businesses. They make a profit by buying products in bulk at a discount and reselling them in smaller quantities at a higher price to individual retailers.

Detailed explanation-3: -A retailer buys from wholesalers and producers in large quantities and sells to consumers in small quantities.

Detailed explanation-4: -Retail is the sale of goods individually or in small quantities direct to consumers.

Detailed explanation-5: -Direct-to-consumer (DTC) is when a brand or manufacturer sells its own products to its end customers. The DTC retail model involves selling products without the help of third-party retailers or wholesalers.

There is 1 question to complete.