BE Unit 2.00 Reassessment

A producer is someone who

• sells products

• is very creative

• makes things

• employs others

The two main divisions of the trade industry are

• producers and retailers

• manufacturers and wholesalers

• wholesalers and retailers

• wholesalers and producers

What do service businesses sell?

• Retail merchandise

• Raw goods

• Wholesale merchandise

• Intangible activities

A large retailer feels that it has a duty to contribute to the well-being of society, so it donates a portion of its proceeds to a charity that helps the environment. The retailer is demonstrating

• social responsibility

• wholesaling

• retailing

• e-tailing

Social responsibility should be part of the objectives of __________ businesses

• all

• nonprofit

• government

• specialized

Which of the following is an example of an economic want:

• clothing

• fresh air

• understanding

• conversation

Using a stream to supply water for crops is an example of using

• natural resources

• human resources

• capital goods

• nonrenewable resources

When a stove is used in a restaurant kitchen, it is a

• noneconomic resource

• natural resource

• human resource

• capital good

A salesclerk working part-time at a clothing store is an example of a(n)

• natural resource

• human resource

• capital good

• unlimited resource

What is the amount of money for which an item sells in the competitive marketplace?

• Value

• Price

• Market

• Utility