Business Essentials 2.01

A producer is someone who

• sells products.
• is very creative.
• makes things
• employs others.

Farms, mines, and lumber companies are examples of

• builders.
• manufacturers.
• trade industries.
• raw-goods producers.

A company that transforms cotton into wearable clothing is considered a

• raw-goods producer.
• manufacturer.
• service business
• builder.

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

• A builder
• A raw-goods producer
• A manufacturer
• A trade industry

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

• trade industry.
• service business.
• raw-goods producer.
• builder.

The two main divisions of the trade industry are

• producers and retailers.
• manufacturers and wholesalers.
• wholesalers and retailers

• wholesalers and producers

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

• True; they all belong to a chain.
• True; they are all independently owned.
• False; they may be corporations or partnerships.
• False; they may be independent or belong to a chain.

Which of the following describes the services offered by trade industries:

• They are always limited.
• They vary from day to day.
• They are always full line.
• They may be limited or full line

Businesses in trade industries that offer discount prices usually offer

• full services.
• limited services.
• plush interiors.
• elaborate fixtures.

Retailing takes place whenever goods are

• offered for sale.
• exchanged for other goods.
• sold to the ultimate consumer.
• sold in a retail establishment