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2.01 EC-070 Glossary

Business Essentials Key Terms

TermDefinition
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-tailers Retailers who operate solely online
Manufacturer A type of producer that changes the shapes of forms of materials so that they will be useful to consumers
Producers The people who make goods and services
Raw-goods producers The people who make or provide goods 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 costumers 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 and by buying goods from producers and selling them to retailers
Created by: EmmaLyn6
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