OACC42-Midterm-Review

What is a company that provides raw materials or bulk products to another business called?

• Vendor

• Supplier

• Wholesaler

• Retailer

A business that sells goods or services directly to consumers or other businesses is called a:

• Manufacturer

• Vendor

• Supplier

• Distributor

What does B2B stand for?

• Business-to-Buyer

• Business-to-Business

• Buyer-to-Buyer

• Business-to-Customer

In a B2C transaction, who are the buyers?

• Manufacturers

• Wholesalers

• Individual consumers

• Retailers

What type of sale involves selling large quantities of goods at lower prices to retailers?

• Retail

• Wholesale

• Dropshipping

• Procurement

Which business model allows a seller to operate without keeping inventory?

• Procurement

• Dropshipping

• Wholesale

• B2B

The process of finding, acquiring, and purchasing goods and services from suppliers is called:

• Procurement

• Manufacturing

• Logistics

• Distribution

What does MOQ stand for in supplier transactions?

• Market Order Quantity

• Minimum Order Quantity

• Manufacturer’s Order Quote

• Maximum Order Quality

What is the primary role of vendors and suppliers in the supply chain?

• They provide logistics services.

• They ensure businesses have the necessary materials or products.

• They regulate trade policies.

• They only sell to individual customers.

Which of the following is not a factor to consider when choosing a supplier?

• Price

• Quality

• Delivery Time

• Business Logo