| A | B |
|---|
| technology | application of scientific knowledge in business and industry |
| innovation | new ways of doing things |
| producer | individuals that create products or services for distribution |
| raw goods | materials gathered in their original state from natural resources |
| processor | businesses that change natural resources into other forms |
| processed goods | produced by flour mills, oil refineries, and steel mills |
| manufacturer | turn raw materials into finished goods |
| intermediary | a business that moves goods from one business to another |
| wholesaler | buy materials in huge quantities |
| retailer | a business that sells directly to the consumer |
| service firm | provides services instead of goods |
