Final answer:
Manufacturing businesses produce goods, service businesses offer intangible services, and merchandising businesses sell finished products to consumers. To meet people's needs and wants, businesses must decide what and how to produce, and for whom. Households and firms act as buyers and sellers in different markets.
Step-by-step explanation:
To determine whether each of the listed businesses is an example of manufacturing, service, or merchandising, we need to understand the characteristics of each type of business: Manufacturing businesses are involved in the production of goods by transforming raw materials into finished products through various processes. An example of a manufacturing business might be a furniture company that takes lumber and produces chairs and tables. Service businesses provide intangible products - that is, services rather than physical goods. Examples include plumbing, journalism, marketing, or education services. Merchandising businesses, also known as retail businesses, sell finished products to consumers. These goods are purchased from manufacturers or wholesalers and then sold to the public; an example would be a clothing store.
When asked about the kinds of goods and services required to meet people's needs and wants, we're touching on the fundamentals of economics. The decision regarding what goods will be produced, how they will be produced, and for whom they will be produced are central economic questions that businesses must consider based on supply, demand, and resource availability.