LIAM
Which are the the two REQUIRED elements of a supply chain?
A) Producer and Retailer
B) Producer and Wholesaler
C) Retailer and Consumer
D) Producer and Consumer
D) Producer and Consumer
If a wholesaler buys a barrel of oil for $112 and sells it to a retailer for $120, how much do they profit on a barrel?
What type of research involves gathering statistical data and analyzing numerical data from a large sample group?
A) qualitative
B) quantitative
C) case study
D) descriptive
B) quantitative
A company’s image is defined as the
A) picture created in the mind of the customer
B) pictures used on billboards
C) visual theme inside the store
D) collection of styles that it sells
A) picture created in the mind of the customer
Name the four business ownership structures covered in the NOCTI?
Sole proprietorship, Partnership, Corporation, Franchise(e)
Both
What is one advantage and one disadvantage of Air Transportation?
Ad: Fast, Less damage, no warehouse costs
DisAd: Expensive, Weather delays, Maintenance issues, Needs a second mode of transpo
Which stages of the supply chain have ownership over a product?
A) Producers
B) Wholesalers
C) Retailers
D) All the Above
D) All the Above
Advertising consists of..
A) a persuasive selling message directed at potential customers
B) determining the wants and needs of a target market
C) researching competitors' products and determining how yours are different
D) providing quality goods at low prices
A) a persuasive selling message directed at potential customers
Which business type has unlimited liability?
A) Sole Proprietorship
B) Partnership
C) Corporation
D) Franchisee
Correctly order the following: Consumers, Producers, Retailers, Wholesalers.
Producers, Wholesalers, Retailers, Consumers
How do agents make money?
They connect buyers and sellers, and charge a small percentage (commission fee)
Putting a customer at ease is the ______ step in retail selling.
A) first
B) second
C) third
D) fourth
A) first
A mission statement describes an organizations what...
A) absentee policy
B) building plans
C) purpose or goal
D) job postings
C) purpose or goal
Dunkin' Corporate will allow an individual to run and maintain the store, while providing product and marketing. Profits will be split between the two, after the individual pays a licensing/entry fee.
Who are the intermediaries in the supply chain?
Wholesaler, Retailer, and Agents
What is a product that would benefit by a digital supply chain and one that would not?
Many possible answers
The term for research to determine factors, conditions, and characteristics of a market is
A) brainstorming
B) market analysis
C) goal setting
D) prototyping
B) market analysis
What is the subtotal on a receipt?
A) The total amount due
B) The tax amount
C) The total before tax
D) The amount of change due
C) The total before tax
Why are C Corporations heavily regulated by the government?
A) They are very large
B) They are on the stock market
C) They are publicly owned
D) B and C
D) B and C
Walk me through the supply chain route of a Dodge Charger?
Produced at factory, bought by car wholesaler, sold to dealership, bought by consumer
What is inventory?
A) the means and modes in which materials are transported from producer to consumer.
B) the goods and materials that a business holds for the ultimate goal of resale, production or utilization.
C) the amount paid to agents for helping connect a buyer and seller.
B) the goods and materials that a business holds for the ultimate goal of resale, production or utilization.
A good way to develop additional business-related career skills is to
A) work extra hard at your current job
B) develop close relationships with the supervisors
C) network to create contacts
D) participate in available education classes
D) participate in available education classes
When making a sales presentation to a business interested in purchasing an internal employee cell phone system, which of these highlights the benefit of a product?
A) “This is the cheapest model we have and is also on sale today.”
B) “This will allow you to talk to both of your employees at the same time.”
C) “This model has the most features.”
D) “This is our most popular model.”
B) “This will allow you to talk to both of your employees at the same time.”
To be a good team leader or manager, it is most important to...
A) Delegate work
B) Prioritize Profits
C) Recognize the strengths of team members
D) Get out early to play golf
C) Recognize the strengths of team members