Question

which type of business changes raw goods into processed goods?

1. a) manufacturers
2. b) service firms
3. c) processors
4. d) retailers

Explanation:

To determine the type of business that transforms raw goods into processed goods, we analyze each option:

• A) Manufacturers: These businesses are known for converting raw materials into finished or processed goods through production processes.
• B) Service Firms: They provide intangible services, not involved in transforming raw goods.
• C) Processors: While related, the standard term for businesses that transform raw goods into processed goods is "Manufacturers" (processors might be a subset or less commonly used in this context).
• D) Retailers: They sell finished goods to consumers, not involved in production/transformation of raw goods.

Answer:

A. Manufacturers