Chapter 5.1 Assessment

1. A business is all of the activities involved with producing and marketing good and services.
2. The two primary functions of a business are the production and the marketing of the goods and services.
3. Four ways businesses can be categorized are by size, by profit orientation, by market served and by kinds of products provided. 
4. The significance of e-commerce is that customers can now buy products online and don't have to go out and shop but can buy it right from the tap of a button and will be delivered to their house within days.