HELE Gr5 Entrepreneurship

A product is created and manufactured for the mass market or for specialized or individual demands.

• Entrepreneur

• Product Industry

• Service Industry

• Business

Example of this type of industry are the following: repair shops, printing shops, beauty parlors, food retailing, and recreation centers.

• Product Industry

• Service Industry

• Entrepreneur

• business

A/an _______ blank identifies the different factors for product and service opportunities and starts searching for unique ideas before entering a business.

• Service Man

• Entrepreneur

• Businessman

• Industrialist

Which is not a type of Product Industry?

• food processing

• softdrink manufacturing

• toy manufacturing

• call center

______ are products that are useful over long periods of time.

• non-goods

• durable goods

• nondurable goods

• owned goods

These activities support the daily functioning and management of any business. Examples are banking, warehousing, repair and maintenance, etc.

• Business Services

• Personal Services

• Social Services

These are personalized activities provided to individuals according to their needs. Examples are food catering, hotel and accommodation, etc.

• Personalized Services

• Business Services

• Social Services

These are public services provided by the government or nonprofit organizations. Examples are education, sanitation, medical, housing, etc.

• Social Services

• Business Services

• Personalized Services

This is a characteristic of Services which cannot be touched, stored, transported, packaged, or tested before buying. The credibility of the product or service is important.

• Perishable

• intangible

• Inconsistent or Varied

• Inseparable

A characteristic of Services where the services offered cannot be separated from the person who offers it.

• Varied

• Inseparable

• Intangible

• Perishable