Commerce

any individual or group that derives satisfaction from goods and services

through the process of exchange.

Retailer is a person who sells the goods in

One function of the wholesaler is that he/she breaks bulk.

• True

• False

_____ are those who produce goods.

• wholesalers

• retailers

• distributors

• manufacturers

Distribution refers to the storing and __________ products to customers.

• sorting

• moving

• packaging

Which of the following is a middleman in the chain of distribution? A/an

• entrepreneur

• producer

• banker

• retailer

True or False: There may be licenses/permits involved in a street vendor setting up and maintaining a station, so those looking to do so should make sure what requirements apply.

• True

• False

According to the chapter, this is a large-format store that offers many products.

• Department Store

• Convenience Store

• Big Box Store

• Wholesale Store

Which type of business would you fall under if you opened a beauty salon?

• Manufacture

• Wholesaler

• Retailer

• Service

A wholesaler is a business that buys in extremely large quantities from manufacturers and sells in smaller to retailers but never to consumers.

• True

• False