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2.01 key terms
Business Essentials
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-tailers | Retailers who operate solely online |
Manufacturers | A type of producer that changes the shapes or forms of materials so 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 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 | business that buy 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 |