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201 Key Terms
Business Essentials
| Question | Answer |
|---|---|
| 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 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 goods in their natural state |
| Retailer | A business that buys consumer goods or services and sells them to the ultimate consumer |
| Service business | A 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 by and sell goods to others: retailers and wholesalers |
| Wholesalers | Intermediaries who help move goods between producers and retailers by buying goods from producers and selling them to retailers |
Created by:
Jairoe
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