Which of the following businesses could be categorized as physical?

The correct choice is a bakery with a storefront because it involves a tangible location where customers can physically visit to purchase products. A physical business is fundamentally characterized by its presence in a physical space where transactions occur face-to-face. In this case, the bakery not only sells baked goods but also offers an experience where customers can enter the shop, view the goods, and interact with employees directly.

In contrast, the other options involve services or products that are predominantly accessed or delivered through digital means. An online fashion retailer operates entirely over the internet, with no physical storefront where customers can go to shop. Similarly, an app development firm provides services that are based on digital platforms, while a stock brokerage firm primarily conducts its business online or through digital interfaces, often without physical interactions. Each of these businesses lacks a physical location where consumers can engage in direct, in-person transactions, which is why they do not fit the category of a physical business like the bakery does.