Retail and Business Concepts Quiz

What is the process of selling products and/or services to earn a profit called?

• Retail

• Wholesale

• Manufacturing

• Distribution

Who are the people that purchase goods or services from a business?

• Retailers

• Customers

• Manufacturers

• Wholesalers

What are tangible items that you can hold in your hand or carry out of a store called?

• Services

• Products

• Retail

• Ownership

What type of transactions are intangible and cannot be held in your hand?

• Products

• Services

• Retail

• Wholesale

What is the term for multiple buying options that are separate?

• Omnichannel Retailing

• Multichannel Retailing

• Wholesale

• Independent Retailing

What is the term for multiple buying options that are seamless and interconnected?

• Multichannel Retailing

• Omnichannel Retailing

• Wholesale

• Independent Retailing

Who produces finished products?

• Retailers

• Wholesalers

• Manufacturers

• Customers

Who purchases large quantities from the manufacturer and sells smaller amounts to retailers?

• Customers

• Retailers

• Wholesalers

• Manufacturers

What type of retail ownership is typically a single store, online site, or a small regional chain?

• Corporation

• Franchise

• Independent

• Private Company

What type of retail ownership involves a business owned by shareholders through publicly traded stock?

• Franchise

• Corporation

• Independent

• Private Company