Business Characteristics - Vocabulary - BM-u1-1a

Businesses which develop products for distribution from raw goods

• Processors

• Manufacturers

• Producers

• Wholesalers

Materials derived from natural resources

• Products

• Goods

• Raw Goods

• Substances

Businesses which change raw goods into a more finished form, known as processed goods

• Processors

• Manufacturers

• Service Firms

• Producers

Businesses which change raw or processed goods into finished goods

• Producers

• Intermediaries

• Service Firms

• Manufacturers

Businesses which move finished goods from one business to another by buying, storing and reselling goods; often referred to as “middlemen”

• Wholesalers

• Retailers

• Intermediaries

• Service Firms

Businesses which provide services to consumers and other businesses

• Non-profit Organizations

• Service Firms

• Producers

• Intermediaries

Businesses which provide goods and services to businesses and individuals, but operate on donations, volunteers and philanthropists rather than profit

• Intermediaries

• Service Firms

• Non-profit Organizations

• Processors

Buys finished goods from manufacturers in large quantities and sell them to businesses in smaller quantities

• Wholesalers

• Retailers

• Producers

• Intermediaries

Buys finished goods from manufacturers or wholesalers and sell them directly to the consumer

• Wholesalers

• Retailers

• Service Firms

• Producers