Entrepreneurship Lesson 4.02 Review

Entrepreneurship Lesson 4.02 Review

9th - 12th Grade

15 Qs

quiz-placeholder

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Entrepreneurship Lesson 4.02 Review

Entrepreneurship Lesson 4.02 Review

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Beth King

Used 33+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are three types of purchasing?

Buying for resale, Buying for make-or-buy decisions, and Buying for retailers

Buying for resale, Buying for transformation, and Buying for retailers

Buying for transformation, Buying for business use, and Buying for wholesalers

Buying for resale, Buying for transformation, and Buying for business use

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

John purchases sterling silver jewelry from Native American artisans and then sells the items to gift shops. What kind of buyer is John?

Wholesale

Retail

Industrial

Business Use

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sydney purchase sporting goods from several different manufacturers and sells the items in her shop. What kind of buyer is she?

Wholesale

Retail

Industrial

Business Use

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Purchasing Specialist for which of the following companies is most likely to buy for transformation?

American Eagle

Target

Ford

Walmart

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why should purchasing specialists develop positive relationships with their suppliers?

To prevent supplier theft

To increase the ratio of material cost to finished product cost

To eliminate the need for a backup supplier

To ensure the supplier will follow through as promised

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a way in which a buyer plays an important role in the success of a business

Forecasting sales

Providing a flow of goods

Determining price of finished products

Planning company's cash flow

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the first step of the purchasing process?

Selecting supplier

Evaluating suppliers performance

Identifying needs

Negotiating with supplier

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