Business Essentials 2.01

A producer is someone who

• Sells products

• Is very creative

• Makes things

• Employs others

Farms, mines and lumber companies are examples of

• Builders

• Manufacturers

• Trade Industries

• Raw-goods producers

A company that transforms cotton into wearable clothing is considered a

• Raw-goods producer

• Manufacturer

• Service business

• Builder

Emila works for a company that construct houses and business facilities. Which type of producer does she work for?

• A builder

• A raw-goods producer

• A manufacturer

• A trade Industry

Rembert works for a grocery store that buys food from producers and sells it to customers. The grocery store is considered a

• Trade industry

• Service business

• Raw-goods producer

• Builder

The two main divisions of the trade industry are

• Producers and Retailers

• Manufacturers and Wholesalers

• Wholesalers and Retailers

• Wholesalers and Producers

Determine whether the following statement is true or false: Trade Industries all have the same form of ownership.

• True; they all belong to a chain

• True; they are all independently owned

• False; they may be corporations or partnerships

• False; they may be independent or belong to a chain

Which of the following describes the services offered by trade industries:

• They are always limited

• They vary from day to day

• They are always full time

• They may be limited or full line

Businesses in trade industries that offer discount prices usually offer

• Full services

• Limited services

• Plush interiors

• Elaborate fixtures

Retailing takes place whenever goods are

• Offered for sale

• Exchanged for other goods

• Sold to the ultimate consumer

• Sold in a retail establishment