Which term describes a business that creates finished products for consumers?

Get ready for the Leaving Certificate Business Test. Prepare with flashcards and multiple choice questions complete with hints and explanations to help you succeed. Ace your exam now!

The term that accurately describes a business that creates finished products for consumers is "producer." Producers are entities engaged in manufacturing or assembling goods that are then sold to consumers. This involves the processes of sourcing raw materials, employing labor, and using technology to convert those materials into final products.

Producers play a critical role in the economy as they fulfill the demand for goods and thus contribute to economic growth. By focusing on the development of finished goods, they ensure that consumers have access to a wide range of products that meet their needs and preferences.

In contrast, a service provider refers to businesses that offer services rather than physical products. A consumer is the end-user of the products or services, while an investor is someone who provides capital to a business but does not typically engage in the production of goods. Each of these roles supports the economic system, but they do not embody the specific function of creating finished products that characterizes a producer.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy