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201 KEY TERMS

Business Essentials

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 that 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 good services.
Raw - Goods Producer A type of producer that produces 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.
Created by: mlya.t964
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