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WorksheetsTypes & Functions of Businesses
Total questions: 22
Worksheet time: 11mins
Producer
changes raw materials into more finished products
a business that gathers raw goods
a business that makes finished products
a business that moves goods from one business to another
What are raw goods?
goods that require further processing
goods that are finished
materials gathered and put into storage
materials gathered in their original state from natural resources
What are some industries that are producers?
agriculture, mining, forestry
manufacturing, auto, retail
service, delivery, wholesale
processor, IT, microchips
Processor
changes raw materials into more finished products
business that gathers raw goods
business that makes finished products out of processed goods
distributes goods
Manufacturer
a business that makes finished products out of processed goods
a business that gathers raw goods
changes raw materials into more finished products
a business that moves goods from one business to another
Intermediary
a business that moves goods from one business to another
distributes goods
purchases goods from a wholesaler and sells them to consumers
perform tasks rather than provide goods
Wholesaler
a business that moves goods from one business to another
purchases goods from a wholesaler and sells them to consumer
distributes goods
perfroms tasks rather than provide goods
retailer
a business that moves goods from one business to another
purchases goods from a wholesaler and sells them to consumers
distributes goods
perfroms tasks rather than provide goods
What is a service business?
a business that moves goods from one business to another
distributes goods
purchases goods from a wholesaler and sells them to consumer
perform tasks rather than provide goods
What is NOT a function of business?
production and procurement
marketing
management
education
production
the process of creating, expanding, manufacturing or improving goods and services
the buying and reselling of goods that have already been produced
the process of planning, pricing, promoting, selling, and distributing ideas, goods, and services
the process of achieving company goals by planning, organizing, leading, controlling and evaluating the effective use of resources
procurement
the process of creating, expanding, manufacturing or improving goods and services
the buying and reselling of goods that have already been produced
the process of planning, pricing, promoting, selling, and distributing ideas, goods, and services
the process of achieving company goals by planning, organizing, leading, controlling and evaluating the effective use of resources
marketing
the process of creating, expanding, manufacturing or improving goods and services
the buying and reselling of goods that have already been produced
the process of planning, pricing, promoting, selling, and distributing ideas, goods, and services
the process of achieving company goals by planning, organizing, leading, controlling and evaluating the effective use of resources
management
the process of creating, expanding, manufacturing or improving goods and services
the buying and reselling of goods that have already been produced
the process of planning, pricing, promoting, selling, and distributing ideas, goods, and services
the process of achieving company goals by planning, organizing, leading, controlling and evaluating the effective use of resources
finance
the business or art of money management
maintaining and checking records, handling bills, and preparing financial reports
the process of planning, pricing, promoting, selling, and distributing ideas, goods, and services
the process of achieving company goals by planning, organizing, leading, controlling and evaluating the effective use of resources
accounting
the business or art of money management
maintaining and checking records, handling bills, and preparing financial reports
the process of planning, pricing, promoting, selling, and distributing ideas, goods, and services
the process of achieving company goals by planning, organizing, leading, controlling and evaluating the effective use of resources
If you are starting a surfboard business that sells boards you design and make your business would be involved in...
production
procurement
wholesaler
other
What does marketing involve?
creating goods or services
buying and reselling of goods
getting consumers to buy a product or service
going to the market
What are processed goods?
made from raw goods that require further processing
materials gathered in their original state from matural resources
made from artificial sources
goods such as cars and crude oil
What function of business would be responsible for gathering data on consumer habits and trends?
production
marketing
finance
procurement
What is the role of the 'operations' function within a business?
Managing the company's finances and investments.
Creating products or services from raw materials.
Hiring and training employees for different departments.
Developing new ideas and improving existing products.
What is the role of the 'research and development' (R&D) department in a business?
Managing the company's finances and investments.
Coming up with new ideas and improving existing products or services.
Hiring and training employees for different departments.
Making sure customers know about the business and what it offers.
