Answer w/ Term
Businesses that sell primarily to individual consumers.
Business-to-consumer(B2C)
What is an organization that generates revenue?
A For-profit business.
Describe the business-to-business(B2B) market.
Businesses that sell primarily to other businesses.
Define a partnership agreement.
A written contract that establishes a partnership.
An individual or group who buys products.
A customer.
What is the difference between a wholesaler and a retailer?
Wholesalers purchase quantity of product directly from producers and sell the product to retailers.
Retailers buy products from wholesalers and sell the product directly to consumers.
Describe a consumer market.
Consists of customers who buy products for their own use.
What are the three private business structures?
Proprietorship, Partnership, and Corporation.
A nonprofit organization that may be either public or private.
An institution.
What are the three businesses in the private sector (there are three)?
Producers, Intermediaries, and Service businesses
What are the three categories of customers?
Consumer Market, Business Market, and government institutions
Define a dividend: