Business MCQs (Producers, Trade Industries, Goods vs. Services)

Front

A producer is best described as a business that:

Back

Creates or provides goods and/or services

Front

A raw-goods producer is most likely: A. A dairy farm that milks cows B. A creamery that turns milk into cheese C. A grocery store selling milk D. A trucking company hauling milk

Back

A dairy farm that milks cows

Front

Which activity best fits a manufacturer?
A. Growing cotton
B. Spinning cotton into thread and sewing T-shirts
C. Selling T-shirts in a mall store
D. Delivering T-shirts to stores

Back

Spinning cotton into thread and sewing T-shirts

Front

Builders primarily:
A. Convert raw materials into packaged consumer goods
B. Construct structures like houses, roads, or offices
C. Store goods for long periods
D. Lend money to construction firms

Back

Construct structures like houses, roads, or offices

Front

What do Trade industries include? A. Change the form of a product B. Provide professional services only C. Buy and resell goods without changing their form D. Extract natural resources from the earth

Back

Buy and resell goods without changing their form

Front

Which is the best example of a retailer?
A. A cattle ranch selling livestock to a packing plant
B. A regional distributor selling to stores
C. A pharmacy selling directly to customers
D. A factory assembling medicine bottles

Back

A pharmacy selling directly to customers

Front

A wholesaler most often sells to:

Back

Other wholesalers and retailers

Front

Which business is primarily a service business?
A. Furniture factory
B. Accounting firm
C. Sporting-goods store
D. Cattle ranch

Back

Accounting firm

Front

Which statement about goods vs. services is most accurate?
A. Goods are intangible; services are tangible
B. Goods are tangible; services are intangible
C. Both goods and services are always tangible
D. Only services can be stored for later use

Back

Goods are tangible; services are intangible.

Front

Which is a good, not a service?
A. Haircut
B. Streaming subscription
C. Laptop computer
D. Car wash

Back

Laptop computer