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EC-070 Glossary
Business Essentials Key Terms
| 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, 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 ultimite 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: | Businesses 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:
KingZeke13
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