Chapter 4 Review: Private Enterprise

Businesses who sell products to other businesses are part of:

Businesses that use raw materials to create goods are called:

Businesses that extract natural resources for use in the creation of goods are called:

Which of the following is not a sector?

TRUE or FALSE:

Public enterprise business is owned fully or in part by the government and includes tax-funded (military, police, public education) which exist to serve a public purpose and encourage economic development.

Explain the role of wholesalers in a private enterprise system.

What is the distribution channel?​ ​ ​ (a)  

TRUE or FALSE:

Public enterprises are business or industry managed by independent companies or private individuals. These type of businesses are independently owned by a citizen or citizens, investments are determined by private decision while prices, production, and distribution of goods determined by competition.

What factors affect a business?

TRUE or FALSE:

Secondary sectors utilize materials produced from the primary sector to create goods and include manufacturers, intermediaries, wholesalers, and retailers.