Entrepreneurship 4.02

Front

Nina oversees the buying of goods and services for her company. Which business department does she likely work in?

Back

purchasing

Front

What are three types of buying?

Back

Buying for resale, buying for transformation, and buying for business use

Front

What kind of buyer is Jeremiah who purchases sterling silver necklaces and bracelets from Native American artisans and sells the items to jewelry stores and gift shops?

Back

Wholesale

Front

What kind of buyer is Suzette, who purchases sporting goods from several different manufacturers and sells the items in her shop, Suzy's Sports?

Back

Retail

Front

Molly purchases raw materials for a factory that changes the shape and appearance of those materials through a process known as

Back

transformation

Front

Which of the following is a detail that a buyer should know prior to placing an order for raw materials:
- How the finished product will be marketed
- which employees will be converting the raw materials into finished products
- who will be purchasing the finished products
- whether the company has storage space for the raw materials

Back

whether the company has storage space for the raw materials

Front

Which of the following companies is most likely to purchase raw materials and components to convert into finished products: Target, Sears, Ford, Big Lots?

Back

Ford

Front

Doormats, carpeting, telephones, and cleaning chemicals are all items that an office might buy for

Back

business use

Front

Why should purchasing specialists develop positive relationships with their suppliers?

Back

To help ensure that the suppliers will follow through on their promises

Front

If Annika buys the shop's sugar from a cheaper supplier, what is likely to happen?

Back

The profit margin for donuts will increase