Unit 4: Vocab. Pre-Test

The activities and processes used in making both tangible and intangible products.

• Operations

• Purchasing

The process of creating goods and services.

• Information flow

• Production

A business that makes finished products out of processed goods.

• Manufacturer

• Guarantee

A person who purchases goods and services for personal use is called (starts with the letter “c”)?

Raw materials supplied by nature is called (two words, last word rhymes with horses)?

The quantity of something that producers have available for sale.

• Budget

• Supply

To give out.

• Distribute

• Manufacture

The movement of information along the supply chain.

• Operating expense

• Information flow

Businesses involved in selling the goods and services of producers to consumers and other businesses.

• Intermediaries

• Industrial users

Channels in which the manufacturer sells directly to a market without the use of intermediaries.

• Indirect channels

• Direct channels