Business Types and Functions

This type of business takes processed goods and creates finished products

• Processor

• Intermediary

• Manufacturer

• Wholesaler

Wholesaler businesses...

• Usually sell goods directly to consumers

• Gather raw goods from natural resources

• Make finished products from processed goods

• Buy large quantities of goods and sell them in smaller amounts to retailers

Handling money, paying bills, and creating statements and reports regarding money involves the ___________ function of business.

• Finance and accounting

• Management

• Marketing

• Production and procurement

Businesses that buy goods, store them, and resell them are...

• Intermediaries

• Manufacturers

• Processors

• Wholesalers

ABC Company extracts oil from the ground and sells it to other companies to be processed. It is an example of a

• Manufacturer

• Intermediary

• Producer

• Retailer

This function of business involves creating, expanding, manufacturing, or improving goods and services.

• Production

• Procurement

This business is an example of a retailer

• Carrier who assembles parts to create AC units

• REI who sells outdoor goods to consumers

• Merry Maids who provide house cleaning services

• Dunder Mifflin who buy large quantities of paper and sell it to other businesses in smaller quantities

The ______ function of business involves planning, pricing, promoting, and selling in order to get consumers to buy a product.

• Management

• Production

• Accounting

• Marketing

Northfolk Southern is a rail company that ships goods from one business to another. This is an example of...

• A Producer

• A Manufacturer

• A Wholesaler

• an Intermediary

Processing businesses...

• Gather raw materials from natural resources

• Purchase goods from a wholesaler and resells them to consumers

• Move finished goods from one business to another

• Change raw material into more finished products