Question

Fresnas inc., an oil refinery, buys crude oil and converts it into various products such as gasoline, kerosene, and diesel fuel. fresnas inc., then, sells these products to other companies or retailers. based on this information, which segment of the business market is most likely represented by fresnas in

Answer 1

Fresnas Inc., would be a part of the petroleum industry. Fresnas Inc. is in the early production stages of the industry since they are the ones that take the oil and convert it into different products. Without Fresnas Inc, then companies that sell the gasoline, kerosene, diesel fuel etc, would have to expand their company to include converting crude oil into their desired product which can be expensive and time consuming which may cause the business to go out of buisness.