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201 Key Term

Business Essentials

TermDefinition
brick and mortar a business that operates out of physical facility (instead of online)
builders a type of producer that constructs roads, bridges, buildings, houses, etc.
e-tailers retailers who operate solely online
manufacturer a type of producer that changes the shapes or form 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 good 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 well being of society
trade industries businesses that buy and sell good 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
Created by: tanaja.l542
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