| A | B |
|---|
| sole proprietorship | business owned by only 1 person |
| partnership | owned by 2 or more people-share risks & rewards |
| corporation | business treated by law as separate from it's owners |
| intermediary | "go-between" in moving goods from producers to consumers (wholesalers, retailers, distributors) |
| cooperative | business organization-owned & operated by members who pull their resources & share the benefits |
| limited liability | financial responsibility of business owners only for what they invested in a business |
| wholesaler | buys goods in large amounts & sells them to other businesses in small lots |
| processors | change raw goods into more finished products |
| manufacturers | make finished products out of raw or processed goods |
| franchise | contractual agreement to use the name & see the goods or services of an existing company |
| retailer | business that sells goods or services directly to the public |
| stock | shares of ownership in a corporation |
| unlimited liability | full legal and financial responsibility for a business |
| non-profit organization | main purpose is to provide a service rather than to make a profit |
| producer | gathers raw products in their natural state |
