B.E. 2.01 and 2.02 Review

Front

The two main divisions of the trade industry are:

Back

wholesalers and retailers.

Front

A large retailer wants to contribute to the well-being of society. It donates 10% of its proceeds to a charity that helps the environment. The retailer is demonstrating:

Back

social responsibility.

Front

A business that buys goods or services and sells them to the ultimate consumer is a:

Back

retailer

Front

What do service businesses sell?

Back

intangible goods and services

Front

Retailing occurs wherever goods are: sold to consumers or the ultimate customer.

Back

sold to consumers or the ultimate customer.

Front

Monte works for a grocery store that buys food from producers and then sells it to customers. The grocery store is an example of a:

Back

trade industry.

Front

All businesses should be socially responsible to whom?

Back

users

Front

The economic resource where people work to produce goods or services are:

Back

human resources.

Front

The Candy Store is selling more and more chocolate each quarter. Applying the law of supply and demand, what is most likely to happen over the next few quarters?

Back

The price will increase, and the supply will increase.

Front

A characteristic of a seller’s market is:

Back

higher prices.