business entity - an organization that uses economic resources to provide goods or services to customers in exchange for money or other goods and services., service business - it provides intangible products (products with no physical form). Service type firms offer professional skills, expertise, advice, and other similar products., merchandising business - it buys products at wholesale price and sells the same at retail price. They are known as "buy and sell" businesses. They make profit by selling the products at prices higher than their purchase costs., manufacturing business - it buys materials to make a new product; it combines raw materials, labour and other costs in its production process. The manufactured goods will then be sold to customers. , hybrid businesses - companies that may be classified in more than one type of business. A restaurant, for example, combines ingredients in making a fine meal (manufacturing), sells a cold bottle of wine (merchandising), and fills customer orders (service)., startup company - a newly established business; a company in the first stages of operations. Startups are founded by one or more entrepreneurs who want to develop a product or service, demand - a consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service, non-profit companies - they don't make or they aren't conducted primarily to make a profit; they can receive tax-exempt status and not pay taxes on profits, market - any structure that allows buyers and sellers to exchange any type of goods, services and information,

Business types

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