Unit 4 Entrepreneurship

Front

What is the goal to obtain the right goods and services?

Back

Proper quantity, acceptable terms, from the right suppliers.

Front

When selecting for a supplier consider these options: conduct competitive bidding, negotiate, check credentials, place order, do not review credentials, bid, no contract needed, google a supplier and order from them.

Back

conduct competitive bidding, negotiate, check credentials

Front

What is purchasing?

Back

The buying of goods & services for a business.

Front

Purchasing Specialist buys... Raw materials, equipment, supplies, all of the above

Back

all of the above

Front

What are the 3 types of purchasing?

Back

Business use, Resale, Transformation

Front

What kind of buyer is Suzette who purchases sporting goods from several different manufacturers and sells the items in her shop, Suzy’s Sports?

Back

Retail

Front

Doormats, carpeting, telephones, and cleaning chemicals are all items that an office might buy for

Back

Business Use

Front

Which of the following companies is most likely to purchase raw materials and components to convert into finished products: Target, Walmart, Ford, Big Lots

Back

Ford

Front

Molly purchases raw materials for a factory that changes the shape or appearance of those materials through a process known as

Back

Transformation

Front

Which of the following intermediaries never actually owns the products they promote and sell: Retailer, Wholesaler, Agent, Industrial User?

Back

Agent