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2.01 Key Terms

Business Essientials

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, 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 in their natural slate.
Retailer A business that buys consumer goods and services.
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 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.
Raw-goods producer A type of producer that provides goods in their natural slate.
Created by: angelo.g828
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