EPP6

1. To become an ideal entrepreneur,
you must understand the market
and the human motivation for
buying and selling a product or
services based on needs, wants,
and demands.

2. There are thousands of products
and services available to
consumers today, so it is wise to
always keep consideration on
what you need rather than what
you want.

3. Entrepreneur
an entrepreneur is a person
who meets the needs of other
people by fulfilling their demands
for product and services. Some
economists would also consider
an entrepreneur as someone with

4. the ability to innovate or improve on
certain products or services to come
up with something more sellable. A
ideal entrepreneur plays an
important role in society because he
or she contributes to economic
development by helping build
industries.

5. Entrepreneur is a person who
starts a business and is willing to
risk loss in order to make money.

6. The Buyer and the Seller

7. A buyer is a person who agree to
purchase product or services in
exchange for payment usually
money, while seller is the one that
offers product or services to
buyers in exchange for money or
payment.

8. Here are some considerations that
buyers are after when puuchasing
products and services.
1. Obtain quality goods at the
lowest and reasonable costs.
2. Research, write request for bids,
propose, or quote for products
and services.

9. 3. Evaluate information received.
4. Purchase an agreed amount of
goods for a certain period of time.
5. Pay the agreed price on what
has been purchased.

10. The duties of a seller are the
following:
1.Make fair business with buyers.
2.Deliver goods with proper care
on time to the place of delivery.
3.Provide warranty for the product
sold to the buyer.

11. Sellers also have a set of rights. These are
the following:
1.Receive the right payment for the
amount agreed upon for the item sold.
2.Be able to collect for securing against
loss or damage of goods bought by the
buyer.
3.Get the goods back when the buyer fails
to pay

12. Types of Buyer and Seller
Relationships
Short-term relationships are
one-time shallow commitment
purchases.

13. Meanwhile, long-term
relationships involve regular
purchases based on an agreement
that had been established for
purchases lasting for a long period
of time.

14. Business/
Store name
Productss
with highest
sales
Reason for
high
demands

15. With the help of your school teacher,
Conduct an informal survey to
determine the products with the
highest sales in your school. Find out
why these products have high demand
from customers. Complete the table
below

16. Activity 1
Discuss the important roles of buyers
and sellers in business
Role
Buyers Sellers
________________ _________________
________________ _________________

17. 1. Which word describe the picture
below a. product
b. services
c. buyer
d. seller

18. 2. Which item below is a product
c.
b.
a.
d.

19. 3. Which word describe the picture
below?
a. product
b. services
c. buyer
d. seller

20. 4. Peanut are abundantly grown in
San Carlos City Negros Occidental.
The Following are simple product
that can be produced from peanut.
Which is not?
a. Soy sauce c. peanut butter
b. Peanut brittle d. salted peanut

21. 5. In order to effectively promote your
product in the buying process, you
should first……
a.Understand the buying decision
process
b.Prepare for selling strategies
c.Conduct an opening party
d.Invite all people in the community

22. Activity 2:
Write Agree on the line if the
statement is correct and Disagree if it
is incorrect.
______1. Buyers agree to purchase product
or services.
______2. Sellers should not provide
warranty for the procuct or services they
offer.

23. _____3. Seller transfer products and
provide services In exchange for
money.
_____4. Sellers should make business
fairly with buyers.
_____5. Providing warranty to buyers
is a right of the sellers.

24. _____6. Short-term relationships
create more discounts and flexibility
in the schedule of payments.
_____7. Short-term relationships
involve regular purchases based on an
established agreement over a longer
period of time.

25. _____8. Buyers obtain goods at the
lowest and reasonable costs.
_____9. Long-term contracts involve
accurate forecasts on the future
performance and needs of businesses.
_____10. Long-term agreements give
the buyers the options to go from one
supplier to another for their next purchase.