Kym’s business makes organic, designer cloth to sell to clothing companies to create other goods. What term best describes Kym’s role in the value chain?
1..... Manufacturer
2...Wholesaler
3... Retailer
4...Crafts
1.... Manufacturer
What type of goods are machinery, raw materials such as cotton and lumber, and equipment?
Industrial
Consumer
Production
Support
Industrial
What is the approximate lifespan of durable goods?
(1 point)
Responses
Three or more years
Three or more years
Fifteen to twenty years
Fifteen to twenty years
Six months to one year
Six months to one year
Infinite
Fifteen to twenty years
What is the approximate lifespan of durable goods?
(1 point)
Responses
a)Three or more years
b) Fifteen to twenty years
c)Six months to one year
d)Infinite
b) Fifteen to twenty years
Brent owns a business that sells goods and services to the public for consumption. What is the most appropriate term to describe the type of business Brent owns?
Manufacturer
Retailer
Ideation
Marketing
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Retailer
What step in the rational decision-making process involves assessing what worked and did not work about the process and solution?
Step five, testing the solution
Step six, implementing the solution
The first step, defining the problem
The last step, evaluating the solution
The last step, evaluating the solution
Scooter owns a company that sells manufactured goods in large quantities. What role does Scooter’s company have in the value chain?
Wholesaler
Manufacturer
Retailer
marketer
Marketer
Wholesaler
By managing her emotions so that she is able to make unbiased, objective business decisions, including thinking before doing and separating business goals from personal ones, what key entrepreneurial trait is Colby building on?
Creativity
Empathy
Self-regulation
Mindset
Self-regulation
What kind of value chain can be described as purchases being made by the retailer from the manufacturer and then the retailer selling the products to the customer?
(1 point)
Responses
Manufacturer to retailer to consumer
Manufacturer to retailer to consumer
Manufacturer to wholesaler to consumer
Manufacturer to wholesaler to consumer
Industrial to consumer to retailer
Industrial to consumer to retailer
Creator to manufacturer to wholesaler
Manufacturer to retailer to consumer
Jacob’s teacher gives each member of the class a definition for a type of good and asked them to figure out the best key term that matches their definition. Jacob’s definition states, “Usually requires more planning and thought during the purchasing process and includes clothing, electronics, and furniture.” What does he select as his key term?
(1 point)
Responses
Unsought goods
Unsought goods
Manufacturing goods
Manufacturing goods
Convenience goods
Convenience goods
Shopping goods
Shopping goods
When the wholesaler takes large shipments and breaks them down for direct resale to the consumer, what does it eliminate?
(1 point)
Responses
Eliminates the retailer and extra costs for the consumer
Eliminates the retailer and extra costs for the consumer
Eliminates all profits and taxes
Eliminates all profits and taxes
Eliminates the consumer and the manufacturer
Eliminates the consumer and the manufacturer
Eliminates the manufacturer
Eliminates the retailer and extra costs for the consumer
Kiara is working on a project that explores and discusses consumer goods. What are some items that she might discuss within her project?
(1 point)
Responses
Raw materials such as cotton and lumber
Raw materials such as cotton and lumber
Furniture, portable electronics, and beverages
Furniture, portable electronics, and beverages
Automated machinery, like a T-shirt press machine
Automated machinery, like a T-shirt press machine
Renewable and natural resources
Renewable and natural resources
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Furniture, portable electronics, and beverages
Question
If wholesalers typically sell goods to retailers, who do retailers typically sell their goods to?
(1 point)
Responses
Wholesalers
Wholesalers
Marketers
Marketers
The public
The public
Manufacturers
Manufacturers
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The public
Shawna’s business advisor asks her, “Will your products be used by the end consumer, or will they be purchased by businesses to create other products?” What will her answer help determine?
(1 point)
Responses
Whether or not she will need a marketing plan
Whether or not she will need a marketing plan
Whether or not she will receive government investors
Whether or not she will receive government investors
Whether or not she will create industrial or consumer goods
Whether or not she will create industrial or consumer goods
Whether or not she will have a profitable business
Whether or not she will create industrial or consumer goods
What key entrepreneurial trait involves making decisions without being afraid to explore the unknown and embracing the opportunity to try and learn new things?
(1 point)
Responses
Discipline
Discipline
Curiosity
Curiosity
Empathy
Empathy
Mindset
Curiosity
What is the easiest and least expensive form of ownership to set up?
(1 point)
Responses
Sole proprietorship
Sole proprietorship
Corporation
Corporation
Partnership
Partnership
Dual partnership