Grade 9 ACE - Starting A Business

A business that performs an action or helps someone is called a

• Product Business

• Service Business

• Merchandising Business

• Manufacturing Business

These are something you or your family must have in order to live safe and healthy lives.

• Needs

• Wants

• Pizza

• iPhone

These are are something that you and your family enjoy.

• Needs

• Wants

• Safety

• Shelter

Purchases finished products and resells to customers.

• Merchandise

• Manufacturing

• Non-profit

• Not-for-profit

Uses raw materials and parts to create finished goods.

• Merchandise

• Manufacturing

• Non-profit

• Not-for-profit

Furthers a social cause and provides a public benefit.

• Merchandise

• Manufacturing

• Non-profit

• Not-for-profit

Do not earn profits for its owners.

• Merchandise

• Manufacturing

• Non-profit

• Not-for-profit

Owned by one person. Not seen as a legal separate entity.

• Sole proprietorship

• Cooperative

• Partnership

• Franchise

Owned by two or more individuals. Not seen as a legal separate entity.

• Sole proprietorship

• Cooperative

• Partnership

• Franchise

A business that exists separately from its owners.

• Corporation

• Cooperative

• Partnership

• Franchise