Unit 4 Entrepreneurship

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

• proper quantity

• acceptable terms

• from the right suppliers

• all of the above

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

What is purchasing?

• The buying of goods for a business

• The buying of services for a business

• The buying of goods & services for a business.

• The buying of a product at walmart

Purchasing Specialist buys...

• Raw materials

• equipment

• supplies

• all of the above

What are the 3 types of purchasing?

• Resale

  transformation

  self

• Business Use

  Raw materials

  Self

• Business use

  Resale

  Transformation

• Resale

  Self

  Business Use

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

• Wholesale

• Retail

• Industrial

• Business Use

Match the following

• Direct distribution

• Business that purchases goods and sells them to retailers

• Retailer

• Grower, provider, or manufacturer of goods or services

• Wholesaler

• Business that purchases goods and sells them to consumers

• Producer

• Path straight from producer to consumer or industrial use

• Industrial Goods

• Items that will be consumed by the industrial user

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

• Production

• Business Use

• Negotitions

• Competitive Bidding

Which of the following companies is most likely to purchase raw materials and components to convert into finished products:

• Target

• Walmart

• Ford

• Big Lots

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

• Affirmation

• Specification

• Transformation

• Negotiation