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BE Unit 2.00
EC-070 Glossary
Term | Definition |
---|---|
Brick and mortar | A business that operates out of a physical facility (instead of online) |
Builders | A type of producer that constructs roads, bridges, buildings, houses, etc |
E-tailors | Retailers who operate solely online |
Manufacturer | A type of producer that changes the shapes or forms of materials so that they will be useful to consumers |
Producers | The people who make or provide goods and services |
Raw-goods producer | A type of producer that provides good in their natural state |
Retailer | A business that buys consumer goods or services and sells them to the ultimate consumer |
Service business | A type of business that performs intangible activities that satisfy the needs and wants of consumers or industrial users |
Social responsibility | The duty of business to contribute to the well-being of society |
Trade industries | Businesses that buy and sell goods to others: retailers and wholesalers |
Wholesalers | Intermediaries who help move goods between producers and retailers by buying good from producers and selling them to retailers |