| A | B |
|---|
| business | An organization formed by an individual or group in order to pursue shared economic goals. |
| economic goals | Refer to tangible or intangible achievements that an individual or a group chooses to pursue - which are all linked to the pursuit of profit. |
| revenue | Describes the amount of money a business earns in a given period of time. |
| expense | Are resources a business uses up in order to produce revenue. |
| Merchandising business | An organization or business that 'resells' goods. These types of organizations have an inventory of goods that they purchase from manufacturers or distributors, and then resell to their customers |
| manufacturing business | An organization or business that produces or 'manufactures' products. These types of organization typically convert raw materials and/or components into assembled end-products that it distributes to its customers. |
| service business | An organization or business that renders services, or performs activities and duties for others for profit. These types of organizations usually sell intangible advice or services, rather than tangible goods. |
| inventory | goods that are available for sale |
| raw materials | materials that a company uses to make into another usable product |
