Business Essentials review 2

Front

A producer is someone who

Back

makes things.

Front

Farms, mines, and lumber companies are examples of

Back

raw-goods producers.

Front

A company that transforms cotton into wearable clothing is considered a

Back

manufacturer.

Front

Emilia works for a company that constructs houses and business facilities. Which type of producer does she work for?

Back

A builder

Front

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

Back

trade industry.

Front

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

Back

wholesalers and retailers.

Front

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

Back

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

Front

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

Back

They may be limited or full line

Front

Businesses in trade industries that offer discount prices usually offer

Back

limited services.

Front

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

Back

sold to the ultimate consumer.