Business Essentials 2.01

Front

A producer is someone who

Back

makes things

Front

Farms, mines, and lumber companies are examples of

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raw-goods producers.

Front

A company that transforms cotton into wearable clothing is considered a

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manufacturer.

Front

Emilia works for a company that constructs houses and business facilities. Which type of producer does she work for? Options: A builder, A raw-goods producer, A manufacturer, A trade industry

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A builder

Front

Rembert works for a grocery store that buys food from producers and sells it to customers. The grocery store is considered

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trade industry.

Front

The two main divisions of the trade industry are: wholesalers and retailers

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wholesalers and retailers

Front

Determine whether the following statement is true or false: Trade industries all have the same form of ownership.

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False; they may be independent or belong to a chain.

Front

Which of the following describes the services offered by trade industries: They are always limited., They vary from day to day., They are always full line., They may be limited or full line

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They may be limited or full line

Front

Businesses in trade industries that offer discount prices usually offer

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limited services.

Front

Retailing takes place whenever goods are sold to the ultimate consumer.

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sold to the ultimate consumer.