Problem: Describe the seven types of business goods and services. Major equipment includes capital goods, such as heavy machinery. Accessory equipment is typically less expensive and shorter-lived than major equipment. Raw materials are extractive or agricultural products that have not been processed. Component parts are finished or near-finished items to be used as parts of other products. Processed materials are used to manufacture other products. Supplies are consumable and not used as part of a final product. Business services are intangible products that many companies use in their operations.
Question: In small groups, brainstorm examples of companies that feature the products in different business categories. (Avoid examples already listed in the chapter.) Compile a list of ten specific business products including at least one in each category. Then match up with another group. Have each group take turns naming a product while the other group identifies its appropriate category. Discuss your discrepancies and try to resolve them. Some identified products may appropriately fit into more than one category.