Business Essentials Unit 2 Review

The two main divisions of the trade industry are:

• producers and retailers

• wholesalers and retailers

• wholesalers and producers

• manufacturers and wholesalers

A business that buys goods or services and sells them to the ultimate consumer is a:

• manufacturer

• producer

• retailer

• wholesaler

A large retailer wants to contribute to the well-being of society. It donates 10% of its proceeds to a charity that helps the environment. The retailer is demonstrating:

• e-tailing

• wholesaling

• social responsibility

• voluntary merchandise

What do service businesses sell?

• raw goods and services

• retail goods and services

• intangible goods and services

• wholesale goods and services

Monte works for a grocery store that buys food from producers and then sells it to customers. The grocery store is an example of a:

• builder

• trade industry

• service business

• raw-goods producer

Retailing occurs wherever goods are:

• researched and designed

• created or manufactured

• traded or exchanged for other goods

• sold to consumers or the ultimate customer

All businesses should be socially responsible to whom?

• endorsers

• producers

• providers

• users

To prepare for effective decision-making that ensures the efficient delivery of products to the marketplace, one should study:

• marketing

• economics

• job outlooks

• supply chains

New Gear studied trends in the marketplace to price their jerseys. There was an abundance of jerseys remaining after meeting the demand creating which market condition?

• equilibrium

• rationing

• shortage

• surplus

Economic resources that help people be more productive are:

• human resources

• natural resources

• capital goods resources

• nonrenewable resources