Podcast
Questions and Answers
What type of producer gathers goods in their natural state?
What type of producer gathers goods in their natural state?
- Builders
- Retailers
- Raw-good producers (correct)
- Manufacturers
Which type of business converts raw goods into consumer goods?
Which type of business converts raw goods into consumer goods?
- Retailers
- Raw-good producers
- Wholesalers
- Manufacturers (correct)
What is the primary function of trade industries?
What is the primary function of trade industries?
- Create new raw goods
- Construct finished goods
- Modify consumer goods
- Buy and sell goods without modification (correct)
Which type of retailer sells primarily to businesses?
Which type of retailer sells primarily to businesses?
What characteristic is true about the size of most businesses?
What characteristic is true about the size of most businesses?
Flashcards
Raw-good producers
Raw-good producers
Businesses that take raw materials from nature and prepare them for use.
Manufacturers
Manufacturers
Businesses that transform raw materials into finished products that consumers can use.
Builders
Builders
Businesses that use finished goods to build structures.
Trade industries
Trade industries
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Retailers
Retailers
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Study Notes
Types of Businesses
- Businesses in society fall into categories like producers, trade industries, and others.
- Producers take raw materials and transform them into finished goods.
- Raw-good producers gather natural resources like crops and lumber.
- Manufacturers process raw materials into consumer products.
- Builders use finished goods to construct structures.
- Trade industries buy and sell products without changing them.
- Retailers sell goods directly to consumers.
- Wholesalers sell goods to other businesses.
- Most businesses are small in size.
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