5.1 Assessment
1.) A business is all of the activities involved in producing and marketing goods and services.
2.) The two primary functions of business are the production and the marketing of goods and services
3.) Four ways businesses can be classified are (1) by size, (2) by profit orientation, (3) by market served, and (4) by kind of product provided.
4.) E-commerce is important because it makes buying and selling products easier for customers and sellers. For example, if somebody on the east coast wants something from a business on the west coast, they can buy it online and have it shipped to their door so they don't have to travel all that way cross-country. It also makes it easier for businesses to keep track of their customers and what their stores have enough of and what they need.
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