Entrepreneurship - Section 3 & 4

 A business that takes natural resources and converts them into a consumer good.

•  Extrator
•  Manufacturer
•  Marketer
•  Wholesaler

Buy in large quantities of goods from manufacturers, store the goods, and resell them to other businesses

• Manufacturer
• Retailer
• Wholesaler
• Producer

Path a product takes from producer or manufacturer to final user  

• Channel of Distibution
• Retailer
• Intermediaries
• Wholesaler

Sell goods to the ultimate consumer through their own stores

• Retailer
• Wholesaler
• Manufacturer
• Producer

Goods or services sold from producers directly to the final user, no middlemen

• Indirect channel
• Direct Channel

Channel that involves one or more middlemen

• Direct Channel
• Indirect Channel

Do not take title of goods, arrange agreements between channel members and work on commission.

• Agent
• Retailer
• Wholesaler

What is the difference between consumers and customers?

• consumers make goods and services
• consumers purchase goods and services
• Customers make goods and services
• Customers purchase goods and services

Plumbing, heating/air conditioning repair, accounting, and lawn care are all considered what type of businesses?

• Combination product and service
• Product
• Services
• Sole proprietorship

Norman and Jones Septic Tank Cleaners are the best septic tank cleaners in Mt. Holly.  How is Norman and Jones Septic Tank Cleaners classified?

• Combination product and service
• product
• service
• sole proprietorship