1.1 Knowledge Check

Which of the following is a term for physical goods that are not sold?

• Sales

• Products

• Pricing

• Services

Which of the following is standard term that describes the audience of retail stores-that is, the people who will by things from the stores?

• Manufacturers

• Wholesalers

• Buyers

• Customers

Which of the following is a term for intangible things, such as providing delivery, that are sold to retailers?

• Gifts

• Training

• Services

• Products

Which of the following terms best describes a grower of potatoes?

• Manufacturer

• Wholesaler

• Distribution Center

• Retailer

The majority of retailers are:

• Independently Owned

• Corporations

• Franchises

• Online Only

Which of the following is the term for the retailing approach that places the focus on creating a seamless shopping experience for customers by integrating multiple channels?

• Multichannel

• Omnichannel

• Integrated Channel

• Seamless Channel

Approximately what percentage of U.S. jobs are retail, as of 2019?

• 5-10%

• 10-15%

• 20-25%

• 35-40%