1. What is the difference between marketing and merchandising? How

does each of these concepts fulfill a different function in the business

world? Explain and provide a real-world example of each.

2. Identify and briefly describe each of the major fields of business

activity (extractive, subcontracting, manufacturing, wholesaling,

retailing, services, cottage industries, and urban street sales) and

offer an example of a business that would fall into each field.