| A | B |
|---|
| Retailer | A business that sells directly to consumers |
| Intermediary | A business that moves goods from one business to another |
| Processor | A business that changes natural materials from their original forms into more finished forms |
| Manufacturer | A business that turns raw or processed goods into finished goods |
| Monopoly | A situation where one company sells all or almost all of a product. |
| Processed goods | Goods made from raw goods that may require further processing |
| Wholesaler | A business that buys large quantities of goods from manufacturers and resells them in smaller quantities. |
| Raw goods | Materials such as coal or wheat, gathered in their original state from natural resources |
| Producers | People who create or gather products and services for distribution |
| Sole proprietorship | A business owned by one person |
| Finished Goods | Goods that need no further processing and are ready for the market are called. |
| Partnership | A business organization with two or more owners who share the risks and rewards |
| Stock | Shares of owneership in a corporation |
| Corporation | A business that is treated by law as a seperate entity |
| Unlimited liability | Full legal and financial responsibility for a business |
| Limited liability | Financial responsibility only for what the owners of a corporation have invested |
| Franchise | A contractual agreement to sell a company's products or services in a designated geographic area |
| Nonprofit organization | A business whose main purpose is to provide a service rather than to earn a profit |
| Cooperative | A group of small businesses banded together into a type of corporation |
