JIMAN D. MARA

Generally speaking, there are two major kinds of businesses—industrial and commercial. Industrial businesses produce goods that are often used by other businesses or organizations to make things. Mining ore for making metal products, manufacturing catchers’ mitts and tricycles, and constructing buildings are types of industrial businesses. Highly industrialized nations that produce thousands of products, such as the United States, Japan, and Germany, can be distinguished from third world nations that are underdeveloped, have few manufacturing firms, and have large numbers of poor people who possess few goods. Some of the third world nations have made progress by becoming developing nations.
Unlike industrial businesses, commercial businesses are engaged in marketing (wholesalers and retailers), in finance (banks and investment companies), and in furnishing services (dental services, sports centers, motels, and video rental shops). Services are intangible products that result from a high degree of labor input and that satisfy consumer needs.

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