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?

Question

1..... Manufacturer
2...Wholesaler
3... Retailer
4...Crafts

Answer 1

1.... Manufacturer

Answer 2

What type of goods are machinery, raw materials such as cotton and lumber, and equipment?

Industrial
Consumer
Production
Support

Answer 3

Industrial

Answer 4

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

Answer 5

Fifteen to twenty years

Answer 6

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

Answer 7

b) Fifteen to twenty years

Answer 8

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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Answer 9

Retailer

Answer 10

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

Answer 11

The last step, evaluating the solution

Answer 12

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

Answer 13

Wholesaler

Answer 14

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

Answer 15

Self-regulation

Answer 16

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

Answer 17

Manufacturer to retailer to consumer

Answer 18

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

Answer 19

Shopping goods

Answer 20

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

Answer 21

Eliminates the retailer and extra costs for the consumer

Answer 22

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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Answer 23

Furniture, portable electronics, and beverages

Answer 24

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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Answer 25

The public

Answer 26

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

Answer 27

Whether or not she will create industrial or consumer goods

Answer 28

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

Answer 29

Curiosity

Answer 30

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

Answer 31

Sole proprietorship

Answer 32

everything is correct, but 3. the answer is 3 or more years.

Answer 33

I apologize for the mistake. You are correct, the approximate lifespan of durable goods is three or more years. Thank you for pointing that out.