A term for physical goods that are bought and sold?

Midterm 2024 RiseUp: Retail Review 1.1 - 3.4

Flashcard
•
Life Skills, Business
•
12th Grade
•
Hard
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23 questions
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1.
FLASHCARD QUESTION
Front
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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