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- 1. Multiple Choice
This type of business takes processed goods and creates finished products
Processor
Intermediary
Manufacturer
Wholesaler
- 2. Multiple Choice
Wholesaler businesses...
Usually sell goods directly to consumers
Gather raw goods from natural resources
Make finished products from processed goods
Buy large quantities of goods and sell them in smaller amounts to retailers
- 3. Multiple Choice
Handling money, paying bills, and creating statements and reports regarding money involves the ___________ function of business.
Finance and accounting
Management
Marketing
Production and procurement
- 4. Multiple Choice
Businesses that buy goods, store them, and resell them are...
Intermediaries
Manufacturers
Processors
Wholesalers
- 5. Multiple Choice
ABC Company extracts oil from the ground and sells it to other companies to be processed. It is an example of a
Manufacturer
Intermediary
Producer
Retailer
- 6. Multiple Choice
This function of business involves creating, expanding, manufacturing, or improving goods and services.
Production
Procurement
- 7. Multiple Choice
This business is an example of a retailer
Carrier who assembles parts to create AC units
REI who sells outdoor goods to consumers
Merry Maids who provide house cleaning services
Dunder Mifflin who buy large quantities of paper and sell it to other businesses in smaller quantities
- 8. Multiple Choice
The ______ function of business involves planning, pricing, promoting, and selling in order to get consumers to buy a product.
Management
Production
Accounting
Marketing
- 9. Multiple Choice
Northfolk Southern is a rail company that ships goods from one business to another. This is an example of...
A Producer
A Manufacturer
A Wholesaler
an Intermediary
- 10. Multiple Choice
Processing businesses...
Gather raw materials from natural resources
Purchase goods from a wholesaler and resells them to consumers
Move finished goods from one business to another
Change raw material into more finished products
- 11. Multiple Choice
BP Gas Stations are an example of a service business
True
False
- 12. Multiple Choice
When a company evaluates how to best use its resources to achieve company goals it is using the _________ function of business.
Management
Marketing
Production and Procurement
Finance and Accounting
- 13. Multiple Choice
John Doe's Lawn Care Company mows lawns for people. This is an example of a service business.
True
False
- 14. Multiple Choice
A wholesaler, that buys and sells already produced goods, is involved in the _________ function of business.
Production
Procurement
- 15. Multiple Choice
Valero is a company that takes raw crude oil and turns it into gasoline that cars can use. This is an example of _______
Producing
Wholesaling
Manufacturing
Processing
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