Why Are Some Small Business Owners Successful in the Wholesaling

question 76

Multiple Choice

Why are some small business owners successful in the wholesaling industry?

• A) A wholesaling business does not require a large capital investment.
• B) Small businesses have access to more technology.
• C) Wholesaling businesses serve more customers than retail businesses.
• D) Small business owners are able to develop personal working relationships with their buyers.
• E) All of these choices

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Definitions:

Business Firms

Organizations engaged in commercial, industrial, or professional activities, aiming to generate profits.

Production Possibilities Frontier

A graphical representation showing the maximum amount of two goods or services that can be produced within a given set of resources.

Recession

A brief spell of economic backslide, with a noted reduction in commerce and industrial production, usually spotted by a fallen GDP in two consecutive quarters.

Employment

A relationship between two parties, usually based on a contract where work is paid for, where one party, which may be a corporation, for profit, not-for-profit organization, co-operative or other entity is the employer and the other is the employee.