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Chapter 5
<ul><li>Extractors  grow products or takes raw materials from nature. </li></ul>
<ul><li>Manufacturers  change the raw materials into a form that consumers can use. </li></ul>
<ul><li>Custom manufacturing  makes products that are for one customer. </li></ul>
<ul><li>Mass production  makes a large number of identical items to be available for everyone. </li></ul>
<ul><li>Processing  changes the form of materials for they can be used either for manufacturing or for customer purchase. ...
<ul><li>Marketers  move goods from producers to consumers. They also perform other activities that make the product attrac...
<ul><li>Service businesses  does things for you instead of making or marketing products. </li></ul>
<ul><li>Generate Ideas </li></ul><ul><li>Raising Capital </li></ul><ul><li>Buying Goods And Services </li></ul><ul><li>Usi...
<ul><li>One new business causes a chain reaction for the community. </li></ul><ul><li>Jobs are created; that money is spen...
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Business in Our Economy Ch.5

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Chapter 5 lecture

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Business in Our Economy Ch.5

  1. 1. Chapter 5
  2. 2. <ul><li>Extractors grow products or takes raw materials from nature. </li></ul>
  3. 3. <ul><li>Manufacturers change the raw materials into a form that consumers can use. </li></ul>
  4. 4. <ul><li>Custom manufacturing makes products that are for one customer. </li></ul>
  5. 5. <ul><li>Mass production makes a large number of identical items to be available for everyone. </li></ul>
  6. 6. <ul><li>Processing changes the form of materials for they can be used either for manufacturing or for customer purchase. </li></ul>
  7. 7. <ul><li>Marketers move goods from producers to consumers. They also perform other activities that make the product attractive to the consumer. </li></ul>
  8. 8. <ul><li>Service businesses does things for you instead of making or marketing products. </li></ul>
  9. 9. <ul><li>Generate Ideas </li></ul><ul><li>Raising Capital </li></ul><ul><li>Buying Goods And Services </li></ul><ul><li>Using Human Resources </li></ul><ul><li>Marketing Goods And Services </li></ul><ul><li>Producing Goods and Service </li></ul><ul><li>Keeping Records </li></ul>
  10. 10. <ul><li>One new business causes a chain reaction for the community. </li></ul><ul><li>Jobs are created; that money is spent in the community. </li></ul><ul><li>Taxes are collected for public goods. </li></ul><ul><li>Competition arises through new businesses and the cycle begins again. </li></ul>

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