4.1 Business in the Free Enterprise

Business that sells primarily to other businesses.

• Business-to-Customer

• Business-to-Business

Person or business that sells the goods and services from producers to customers.

• Intermediary

• Manufacturer

Business that purchases quantities of products from producers & sells the products to retailers

• company

• Middle-man

• wholesaler

A(n) ____ exists to serve some public purpose.

• company

• not-for-profit organization

• union

Businesses that use supplies from other producers to make products.

• Manufacturers

• Assemblers

Directly provide consumers with products that meet their needs and wants.

• Stores

• Retailers

• Wholesalers

An organization that generates revenue.

• For-Profit business

• Not-for-Profit Business

The numeric system used to classify businesses and collect economic statistics is called the

• North American Industry Classification System

• Employer Identification Number

Business that is owned and operated by those using its services.

• Extractors

• Cooperative

Business that creates goods and services.

• Intermediary

• Producer