Midterm 2024 RiseUp: Retail Review 1.1 - 3.4

Midterm 2024 RiseUp: Retail Review 1.1 - 3.4

Assessment

Flashcard

Life Skills, Business

12th Grade

Hard

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23 questions

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1.

FLASHCARD QUESTION

Front

A term for physical goods that are bought and sold?

Back

Products

2.

FLASHCARD QUESTION

Front

Which of the following is a standard term that describes the audience of retail stores—that is, the people who will buy things?
Options: Manufacturers, Wholesalers, Buyers, Customers

Back

Customers

3.

FLASHCARD QUESTION

Front

Which of the following is a term for intangible things, such as providing delivery, that are sold by retailers? Gifts, Training, Products, Services

Back

Services

4.

FLASHCARD QUESTION

Front

The majority of retailers are

Back

Independently owned

Answer explanation

Independently owned- most retailers are small businesses.

5.

FLASHCARD QUESTION

Front

Which of the following is the term for the retailing approach that places the focus on creating a seamless shopping experience for customers by integrating multiple channels? Options: Multichannel, Omnichannel, Integrated channel, Seamless channel

Back

Omnichannel

6.

FLASHCARD QUESTION

Front

Approximately what percentage of US jobs are retail jobs, as of 2019? Options: 5-10%, 10-15%, 20-25%, 35-40%

Back

20-25%

Answer explanation

20-25%- just an arbitrary stat you need to know

7.

FLASHCARD QUESTION

Front

What kinds of things does a manufacturer produce? Raw materials, Fossil fuels, Services, Finished products

Back

Finished products

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