| A | B |
|---|
| Sole Proprietorship | a business owned by one person. |
| Partnership | a business owned by two or more people who share its risks and rewards. |
| Corporation | a company that is registered by a state and operates apart from its owners. |
| Limited Liability | holds a firm's owners responsible for no more than the capital that they have invested in it. |
| Cooperative "Co-op" | an organization that is owned and operated by its members. |
| Franchise | a contractual agreement to use the name and sell the products or services of a company in a designated geographic area. |
| Non-profit Organization | a type of business that focuses on providing a service, not making a profit. |
| Unlimited Liability | the legal obligations owners have because they are liable for all business debts if the business can't pay its liabilities. |
| Producer | A business that gathers raw goods. |
| Processor | Changes raw materials into more finished products. Made from raw goods that require more processing. |
| Manufacturer | Business that makes finished products out of processed goods. |
| Intermediary | Business that moves goods from one business to another. Buys goods, stores them and resells them. |
| Wholesaler | Distributes goods. Example: Buys products in large quantities from manufacturers and sells smaller quantities to retailers. |
| Retailer | Purchases goods from a wholesaler and sells them to consumers (final buyers of the goods) Examples: Auto dealers and grocery stores . |
| Stock | Shares of ownership in a corporation. |
