B.E. Chapter 4: Private Enterprise

Businesses who sell products to other businesses are part of:

• B2C market

• B2B market

• an industry

• government market

Businesses that use raw materials to create goods are called:

• extractors

• tertiary

• manufacturers

• wholesalers

Businesses that extract natural resources for use in the creation of goods are called:

• extractors

• tertiary

• manufacturers

• wholesalers

Which of the following is not a sector?

• secondary

• primary

• intermediate

• tertiary

Which of the following is not a type of a retailer?

• online store

• supermarket

• industry

• department store

Define private enterprise

• A sector of the economy that included companies who deal with the extraction and production of raw materials and natural resources

• A business or industry that is managed by independent companies or private individuals rather than by the state.

• A business that supplies a good or service

• A business that purchases a vast amount of goods from manufacturers to sell them to other businesses

Define wholesaler:

• A business or industry that is managed by independent companies or private individuals rather than by the state.

• A business owned fully or in part by the government

• A business that buys products from wholesalers then increases the price of the goods to resell them.

• A business that purchases a vast amount of goods from manufacturers to sell them to other businesses

Define tertiary sector:

• A sector of the economy that included companies who deal with the extraction and production of raw materials and natural resources.

• A category of business that utilizes materials produced from the primary sector to create goods.

• A category of business that provide services to the economy, rather than goods as the primary and secondary sectors do

• A business that purchases a cast amount of goods from manufacturers to sell them to other businesses

Define distribution channel:

• A term for a specific group of companies who have common business activities

• The path a good must follow in order to reach a consumer

• A standard used by the Federal statistical agencies in classifying business establishments.

• A category of business that utilizes materials produced from the primary sector to create goods.

What type of distribution channel uses intermediaries to resell the product to the consumer?

• Direct Channel

• Indirect Channel

• Specialty Channel

• Sports Channel