BE2.00T

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.

The two main divisions of the trade industry are:

• producers and retailers.

• wholesalers and retailers.

• wholesalers and producers.

• manufacturers and wholesalers.

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

A characteristic of a seller’s market is:

• lower profits.

• higher prices.

• larger supply.

• smaller demand.

A form of demand for products in which changes in price correspond to changes in demand is:

• consumer.

• elastic.

• equilibrium.

• inelastic.

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