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Unit 2 - Learning Unit No.1
Unit 2 - Learning Unit No.1
Vision: A premier S & T university for the formation of a world class and virtuous human resource for sustainable development in Bohol and the
country.
Mission: Committed to provide quality higher education in the arts and sciences, as well as in the professional and technological fields; undertake
research and development, and extension services for the sustainable development in Bohol and the country.
ACTIVITY:
a. Read the following articles through the link given and define each point of business.
b. Types of Business
Describe each type of business and complete the table below.
1. Service Business
An activity performed to earn money through customer satisfaction is known as a
service. It involves professional skills and expertise.
2. Merchandising Business
Merchandising means procurement of goods from manufacturers or wholesalers, at a
low price and selling it at a higher price to make a profit. It is also known as a retail
business.
3. Manufacturing Business
Making profit through production or creation of goods from raw material in such a way
that it derives some utility to the consumer is known as a manufacturing business.
E.g. A furniture seller, who manufactures furniture, buys old furniture and sells it at a higher
price after repairing and also provides services for polishing old furniture.