A person or company that sells goods in large quantities at low prices , typically to retailers " chicken supplied by wholesalers to restaurants "
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what's a primary production?
the first stage in any productive process. it is concerned with extracting natural/raw materials from the earth
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what is a manufacturer?
A manufacturer is a person or company that makes goods for sale - manufacturing usually takes place in a factory
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what's a consumer?
the final user of the goods, they buy to satisfy their needs and wants
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what is specialization?
concentrating on one specific task or process( the tendency for people to concentrate on what they do best) for e.g "pakistan specializes in importation of minerals"
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how do u calculate the total percentage increase in the value of total production between so and so date?
subtract the 2 values and divide the answer by a thousand and times that by 100
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what is meant by the term tertiary activities ?
the 3rd stage of production which assists the industry to function by providing commercial services such as banking, transport, advertising , insurance , communication etc
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what are direct services?
services provided to a customer directly to a customer without anyone else involved , usually personal servivces to satisfy immaterial wants for e.g hairdresser, teaching, nurse , massge
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what is a warehouse?
a large shed like building used for storage /bulk breaking/ packing
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What is a retailer?
shopkeeper/ someone who buys from the wholesaler and sells goods to consumers for e.g supermarket owner or unit retailer
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what is meant by primary occupation?
primary occupation extract natural resources and raw materials from nature
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what is meant by secondary occupation?
secondary occupations make finished goods from raw materials by manufacturing or construction
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what is meant by the term trade?
buying and selling/ exchange to make a profit
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what is human want and human need?
human need is something we need to survive such as food , water etc and human want is are things that improve how people live such as entertainment, a car, television, a Gucci bag
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Other cards in this set
Card 2
Front
what's a primary production?
Back
the first stage in any productive process. it is concerned with extracting natural/raw materials from the earth
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