business in our economy ch.5

Chapter 5

• Extractors grow products or takes raw materials from nature.

Manufacturers change the raw materials into a form that consumers can use.

Custom manufacturing makes products that are for one customer.

Mass production makes a large number of identical items to be available for everyone.

Processing changes the form of materials for they can be used either for manufacturing or for customer purchase.

Marketers move goods from producers to consumers. They also perform other activities that make the product attractive to the consumer.

Service businesses does things for you instead of making or marketing products.

Generate Ideas Raising Capital Buying Goods And Services Using Human Resources Marketing Goods And Services Producing Goods and Service Keeping Records

One new business causes a chain reaction for the community.

Jobs are created; that money is spent in the community.

Taxes are collected for public goods. Competition arises through new

businesses and the cycle begins again.