Chapter 18

A person who buys or uses goods and services

• retailer

• consumer

Business person who buys goods from manufacturers and sells to retailers

• retailer

• wholesaler

The difference between the total cost of production and the total revenues received from buyers

• profit

• services

Rapid production of large numbers of identical objects

• mass production

• mass marketing

A form of credit that stores grant to their customers

• charge account

• debit card

Process of selling a good or service in which the same product, price, promotion, and distribution is used for all consumers in a particular market

• mass production

• mass marketing

A product that does not have a manufacturer’s name or brand

• brand

• generic product

Businessperson who sells goods directly to the public

• retailer

• wholesaler

Looks like a credit card but operates like a check

• debit card

• credit card

Name given by the maker to a product or range of products

• brand

• generic product