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Business Studies
Ch 22
| Term | Definition |
|---|---|
| Industry in Ireland can be divided into four main groups: | Extractive,Construction,Manufacturing,Service. |
| Extractive Industries | are those which extract or take raw materials from the land,sea,air. |
| Construction Industry | refers tp those firms involved in the building of houses,factories,roads,etc. |
| Manufacturing Industry | is made up of firms which manufacture or make finished products for the consumer. |
| Service Industries | provide a service to the consumer, e.g. insurance,banking,etc. |
| Types of Production | Primary,Secondary and Tertiary Production. |
| Primary Production | includes all the extractive industries. e.g.forest |
| Secondary Production | includes the construction and manufacturing industries.e.g.factory |
| Tertiary Production | includes all the service industries.e.g.shop |
| A Channel of Distribution | refers to the method by which goods and services get from the producer to the consumer. |
| Wholesaler | buys in bulk from the manufacturer and sells in smaller quantities to the retailer. |
| Manufacturer | a person or company that makes goods for sale. (producer) |
| Retailer | is a persom who buys goods and services from manufacturers or wholesalers and sells them in small quantities to the consumer as a profit. |
| Cash and Carry | have their stores laid out like supermarkets and carry very large stock. |
| Independent Retailer/Unit Shop | generally sole traders who operate small shops.e.g.newsagents |
| Multiple Store | is a retail organisation which has a number of branches around a country and sells one type of product.e.g.HMV |
| Chain Store | is a retail organisation with a number of branches around a country and sells a variety of goods.e.g.Dunnes |
| Supermarket | is a large self service retail organisation selling a variety of goods.e.g.Tesco |
| Voluntary Retail Group | a group of retailers who agree to buy their dtock from one particular wholesaler only.e.g.Mace |
| Department Store | is a large store selling a variety of goods under one roof.e.g.Clerys |
| Discount Stores | specialise in a particular range of goods.e.g.PC World |
| Mail Order Firms | are retail organisation which sell goods through the post. |
| Shopping Centres | are buildings containing a large number of shops selling a wide variety of goods. |
| A Franchise | is when the owners of a business give permission to another person to set up a branch of their business in another location. |
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