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Chapter 5
10

Business in Our Economy Ch.5

Jun 23, 2015

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Chapter 5 lecture
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Page 1: Business in Our Economy Ch.5

Chapter 5

Page 2: Business in Our Economy Ch.5

• Extractors grow products or takes raw materials from nature.

Page 3: Business in Our Economy Ch.5

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

Page 4: Business in Our Economy Ch.5

Custom manufacturing makes products that are for one customer.

Page 5: Business in Our Economy Ch.5

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

Page 6: Business in Our Economy Ch.5

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

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

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

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

Page 10: Business in Our Economy Ch.5

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.