| A | B |
|---|
| physical distribution | Comprises all the activities that help to ensure that the right amount of product is delivered to the right place at the right time |
| transportation | The marketing function of moving products from a seller to a buyer. |
| common carriers | Provide transportation services to any business in its operating area for a fee |
| contract carriers | For hire carriers that provide equipment and drivers for specific routes, according to agreements between the carrier and the shipper |
| private carriers | Transport goods for an individual business. Transportation equipment can be owned or leased to meet the specific transportation needs of the business. |
| exempt carriers | Commonly carry agricultural products, are free from direct regulation of rates and operating procedures |
| storage | function of holding goods until they are sold |
| private warehouse | Facility designed to meet the specific needs of its owners |
| public warehouse | Offers storage and handling facilities to individuals or companies |
| distribution center | Warehouse designed to speed delivery of goods and to minimize storage cost |
| bonded warehouse | Either public or private, store products that require the payment of a federal tax |
| trucks (motor carriers) | are the most frequently used form of transportation |
| entrepreneurship | process of starting and managing your own business |
| entrepreneur | who organizes, manages, and takes risks of owning and operating a business |
| franchise | agreement to operate a business in name of a recognized company |
| sole proprietorship | business owned and operated by one person |
| unlimited liability | your financial liability is not limited to your investment in the business, but extends to your total ability to make payments |
| general partnership | each partner shares profits and losses |
| limited partnership | each limited partner is liable for any debts, only up to the amount of his/her investment in the company |
| corporation | business chartered by a state and legally apart from the owner or owners |
| stockholders | people who actually own corporation with limited liability |
| foreign corporation | incorporated under the laws of a different state from the one it does business in |
| subchapter s corporation | small business that is taxed like a partnership or proprietorship |
| DBA | registration process by which your county government officially recognizes that your business exists |
| articles of incorporation | identifies the name and address of your business |
