Types of business

• Economie

Chapter 6

Section 2:Types and functions of businesses

Pages  99-103

Objectives

Classify the six types of businesses

Differentiate between types of businesses

Discuss the providing of services

Types of businesses

1.Producer

2.Processor

3.Manufacturer

4.Intermediaries and wholesaler

5.Retailer and service businesses

1.Producer:Agriculture, mining, fi shing, and forestry

2.Processor: sugar cane is turned into sugar,
crude oil into gasoline, and iron ore into steel.

3.Manufacturer:Goods are material products such as cars,

CDs, and computers.

4.Intermediaries and Wholesalers:A clothing wholesaler.

5. Retailer and service busineses:. Service stations, record
stores, and auto dealers are examples of retailers. taxi companies
and copy shops

Which type of business is the third in position?

1. Retailer
2. Processor
3. Wholesaler
4. Manufacturer

Arrange the types of businesses in order of their processes.

List of two additional examples of retailers that would buy merchandise from wholesalers.

1.Producer:a business that gathers raw goods

2.Processor:  changes raw materials into more fi nished products.

3.Manufacturer: a business that makes fi nished products out

of processed goods.

4.Intermediaries and Wholesalers: a business that moves goods from one business to another.Wholesalers  distributes goods 

5. Retailer and service busineses: purchases goods from a wholesaler and sells them to
consumers, the final buyers of the goods.

Who changes raw materials into more finished products?

1. Producer
2. Manufacturer
3. Processor
4. Retailer

How do wholesalers differs from intermediaries?

How do retailers differ from service businesses?

 Services means becoming employed by, working as a consultant or independent contractor for, or in any way rendering services or assistance to a person, business or other entity. Providing of services deals with medical clinics and  law firms.

What does service business deal with?

1. Producing products
2. Performing tasks
3. Giving raw materials
4. Exchanging goods

How a producer, processor and a manufacturer are not involved in producing a service? Use examples

Give the important terms of lesson.