2.01 KEY TERMS

Brick and mortar:A business that operates out of a physical facility (instead of online)
Builders:A type of producer that constructs roads, bridges, buildings, houses, etc.
Consumers: People who use goods and services to satisfy their wants
E-tailers:Retailers who operate solely online
Manufacturer:A type of producer that changes the shapes or forms of materials so that they will be useful to consumers
Producers:The people who make or provide goods and services
Raw-goods producer:A type of producer that provides goods in their natural state
Retailer:A business that buys consumer goods or services and sells them to the ultimate consumer
Service business:A type of business that performs intangible activities that satisfy the needs and wants of consumers or industrial users
Social responsibility:The duty of business to contribute to the well-being of society
Trade industries:Businesses that buy and sell goods to others; retailers and wholesalers
Wholesalers:Intermediaries who help move goods between producers and retailers by buying goods from producers and selling them to retailers