Principles of Business Chapter 4 Vocab

Mason, Olivia, and William are planning to start an organization that generates revenue. What type of organization are they likely to start?

• not-for-profit organization

• consumer market

• for-profit business

• manufacturer

Ethan, Olivia, and Oliver are planning to start an organization that exists to serve some public purpose. What type of organization are they likely to start?

• a for-profit business

• a not-for-profit organization

• any organizations

• a manufacturer

Imagine Harper, Emma, and Abigail started a new business. What would they be creating if they are considered as businesses?

• Extractors

• Manufacturers

• Intermediaries

• Producers

Emma, Benjamin, and Aria are playing a game of 'Who am I?'. Emma gives a clue: 'I am a business or person that takes natural resources from the land.' Who is Emma pretending to be?

• Extractor

• Producer

• Manufacturer

• Intermediary

Priya, Avery, and Anika are starting a new business! They are using supplies from other producers to make their products. What type of business are they starting?

• Extractors

• Producers

• Manufacturers
  

• 
  Intermediaries.

Aiden, Abigail, and Kai have started a lemonade stand. They are not the ones who make the lemonade, but they sell it to their friends and neighbors. What are they called in the business world?

• intermediaries.

• Manufacturers

• Extractors

• Producers

Ava, Aria, and Kai are playing a business game. They are running a business that purchases large quantities of products directly from producers and sells the products in smaller quantities to retailers. What is the name of such a business?

• Manufacturers

• Retailers

• Wholesaler

• Intermediaries

Maya, Henry, and Emma are playing a business game. They buy products from wholesalers or directly from producers, and sell them to consumers to make a profit. What kind of business are they running?

• Wholesalers

• Retailers

• Manufacturers

• Intermediaries

Noah, Lily, and Ava are playing a game of 'Business Tycoon'. In this game, who earns profits by providing consumers with services that meet their needs and wants?

• Service Business

• North American Industry Classification System

• Retailers

• Producers

Imagine Benjamin, Michael, and Noah are playing a trivia game. They stumble upon a question: 'What is the numeric system used to classify businesses and collect economic statistics?' Can you help them answer?

• North American Industry Classification System

• EIN

• Bar codes

• Cash