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Business
: azienda
Firm owned
: azienda individuale
Self employed person
: lavoratore
autonomo
Good
: bene economico
Service
: servizio
Company
: società
Supplier
: fornitore
Customer
: cliente
Consumer
: consumatore
Market
: mercato
Buyer
: compratore
Seller
: venditore
Competition
: concorrenza
Production
: produzione
Industry
: azienda industriale
Raw material
: materia prima
Equipment
: attrezzature
Building
: fabbricato
Staff
: personale, impiegati
Product
: prodotto
Primary production
: settore pri-
mario
Extractive production
: Attività
estrattiva
Secondary sector
: settore secon-
dario
Tertiary sector
: settore terziario
Manufacturing
: lavorazione
Assembly process
: assemblaggio
Distribution
: distribuzione
Commercial service
: servizio com-
merciale
Insurance
: assicurazione
Transport
: trasporto
Advertising
: pubblicità
Warehouse
: magazzino
Health care
: assistenza medica
Education
: istruzione
Communications
: comunicazioni
Tourism
: turismo
Legal services
: servizi legali
Social services
: servizi sociali
Research
: ricerca
Development
: sviluppo
A
business
is any organization
that makes
goods
or provides
services
.
There are many types of business
in the UK, these range from small
firms owned
and run by just one
self employed
person, through
to large
companies
which em-
ploy thousands of staff all over the
world. Businesses exist to provide
goods
or
services
,
goods
are
physical products, such as books
or cars,
services
are non physical
items, such as hairdressing.
Cus-
tomer
needs are the wants and
desires of buyers. Businesses buy
the products they need from
sup-
pliers
– firms selling products to
other businesses - and sell to
cus-
tomers
. The individual who uses
the product is called a
consumer
.
Businesses sell to customers in
markets
. A market is any place
where buyers and sellers meet to
trade products - this can be a high
street shop or a website.
Businesses are likely to be in
com-
petition
with other firms offering
similar products.
The vast majority of businesses
are very small and operate in the
service sector,
production
is
the business activity of using re-
sources to make goods and serv-
ices, but in the economic sense,
the word production also includes
all services which satisfy man’s
needs. In order to create goods
and services, a business buys or
hires
inputs
such as raw materi-
als, equipment, buildings and staff,
these inputs are transformed into
outputs
called
products
. These
products are the goods and serv-
ices used by consumers.
There are three types of
indus-
try
in which firms operate, these
sectors
form a chain of produc-
tion which provides customers
with finished goods or services.
Primary production or Prima-
ry sector
: this involves acquiring
raw materials
. For example,
metals and coal have to be mined,
oil drilled from the ground, rub-
ber tapped from trees, foodstuffs
farmed and fish trawled. This is
sometimes known as
extractive
production
.
Secondary production or
Secondary sector
: this is the
manufacturing
and
assembly
process
. It involves converting
raw materials into components, it
also involves assembling the prod-
uct, building houses, bridges and
roads.
Tertiary production or Ter-
tiary sector
: this refers to the
commercial services
that sup-
port the production and distribu-
tion of goods and the provision
of services, and direct services as
insurance, transport, advertising,
warehousing, education, commu-
nications, tourism, Health care,
legal services, social services.
There is also a
Quaternary sec-
tor,
it consists of service such as
research and devolpement.
Business
and the production process