Business Categories Quiz

What are the three broad categories of businesses?

• Producers, Trade industries, Service businesses

• Retailers, Wholesalers, Manufacturers

• Raw-goods producers, Builders, Service providers

• Grocery stores, Restaurants, Dry cleaners

Which of the following is NOT a type of producer?

• Raw-goods producers

• Manufacturers

• Builders

• Retailers

What is the primary role of trade industries?

• To produce raw materials

• To buy and sell goods to others

• To provide intangible services

• To manufacture finished products

Which of the following businesses is an example of a raw-goods producer?

• A car manufacturer

• A lumber company

• A grocery store

• A beauty salon

What is a key characteristic of service businesses?

• They sell tangible goods

• They perform intangible activities

• They modify the form of products

• They buy and sell goods to others

Which of the following statements about trade industries is true?

• Trade industries modify the form of the products they sell.

• Trade industries buy and sell goods to others without modifying them.

• Trade industries provide intangible services.

• Trade industries produce raw materials.

Which of the following statements about manufacturers is true?

• Manufacturers provide goods in their raw states.

• Manufacturers change the shapes or forms of materials to make them useful to consumers.

• Manufacturers buy and sell goods to others.

• Manufacturers perform intangible activities.

Which of the following statements about service businesses is true?

• Service businesses provide goods rather than services.

• Service businesses perform intangible activities that satisfy needs and wants.

Which of the following statements about wholesalers is true?

• Wholesalers sell products directly to ultimate consumers.

• Wholesalers supply goods to retailers or other businesses.

• Wholesalers modify the form of the products they sell.

• Wholesalers perform intangible activities.

Which of the following statements about builders is true?

• Builders are responsible for constructing infrastructure such as roads and bridges.

• Builders provide goods in their raw states.

• Builders buy and sell goods to others.

• Builders perform intangible activities.