A Type of Business in Which the Principal Source of Revenue

question 61

Multiple Choice

A type of business in which the principal source of revenue is compensation for services rendered to a business firm or to a person is a

• A) mercantile enterprise.
• B) manufacturing enterprise.
• C) professional service enterprise.
• D) retail enterprise.

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Definitions:

Economic Status

The level of economic wealth, or prosperity, achieved by an individual, group, or country, often measured by income, wealth, and employment.

Technological Change

Refers to the process by which new technologies are developed and introduced, leading to improvements in productivity, efficiency, or quality in goods and services.

Skilled Labor

Workforce with specialized knowledge, training, and experience requiring advanced skills and education.

Unskilled Labor

Work that requires no specialized skills, education, or training, and often involves manual labor.