The Organized Effort of Individuals to Produce and Sell, for a Profit

question 106

Multiple Choice

The organized effort of individuals to produce and sell, for a profit, the products and services that satisfy a society's needs through the Internet is known as _____.

• A) business
• B) economy
• C) entrepreneurship
• D) e-business
• E) e-marketing

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Definitions:

Manufacturer

A company or individual that produces finished goods from raw materials by using various tools, equipment, and processes.

CRM

Customer Relationship Management; a strategy and software that businesses use to manage interactions with customers, analyzing data to improve business relationships.

SKU

Stock Keeping Unit, a unique identifier for each distinct product and service that can be purchased.

GATT

General Agreement on Tariffs and Trade, a multilateral agreement regulating international trade, aimed at reducing tariffs and other trade barriers to promote economic cooperation and free trade.