Question

1. which of the following describes the services offered by trade industries:

a. they are always limited. c. they are always full line.
b. they vary from day to day. d. they may be limited or full line.

1. businesses in trade industries that offer discount prices usually offer

a. full services. c. plush interiors.
b. limited services. d. elaborate fixtures.

1. retailing takes place whenever goods are

a. offered for sale. c. sold to the ultimate consumer.
b. exchanged for other goods. d. sold in a retail establishment.

1. which of the following statements about wholesale trade businesses is true:

a. they operate from a variety of business premises.
b. they operate only from mail - order warehouses.
c. they operate only from distribution centers.
d. they operate in areas convenient to ultimate consumers.

1. what do service businesses sell?

a. retail merchandise c. wholesale merchandise
b. raw goods d. intangible activities
objective b

1. a large retailer feels that it has a duty to contribute to the well - being of society, so it donat portion of its proceeds to a charity that helps the environment. the retailer is demonstrati

a. social responsibility. c. voluntary chains.
b. wholesaling. d. e - tailing.

1. one way in which a business can show its social responsibility is by its profita. dividing c. reducing

b. maximizing d. controlling

1. businesses can show their social responsibility by contributing to

a. pollution. c. private causes.
b. public interests. d. promotion.

Explanation:

• Question 8: Trade industries can offer either limited or full - line services depending on the business model. For example, some stores may focus on a narrow range (limited) while others offer a wide range (full - line).
• Question 9: Businesses that offer discount prices usually have lower - cost operations. Providing limited services (e.g., self - service in a discount store) helps keep costs down to offer lower prices.
• Question 10: Retailing is defined as the sale of goods to the ultimate consumer. This is the key characteristic that differentiates it from other forms of trade (e.g., wholesaling which sells to other businesses).
• Question 11: Wholesale trade businesses can operate from various premises like warehouses, distribution centers, etc. They do not need to be in areas convenient to ultimate consumers as they sell to other businesses.
• Question 12: Service businesses sell intangible activities. For example, a hair - cutting service or a consulting service. Retail merchandise (a) is sold by retailers, raw goods (b) by producers in some cases, and wholesale merchandise (c) by wholesalers.
• Question 13: When a business donates a portion of its proceeds to a charity (in this case, one that helps the environment), it is demonstrating social responsibility. Social responsibility is about a business's obligation to contribute to society.
• Question 14: One way a business can show social responsibility is by reducing its profit in a sense (by donating a portion). Dividing (a) is not the right term, maximizing (b) profit is more about business self - interest, and controlling (d) is too vague.
• Question 15: Businesses show social responsibility by contributing to public interests. Pollution (a) is something they should avoid, private causes (c) may not have the same broad - based positive impact as public interests, and promotion (d) is more about marketing.

Answer:

1. d. They may be limited or full line.
2. b. limited services.
3. c. sold to the ultimate consumer.
4. a. They operate from a variety of business premises.
5. d. Intangible activities
6. a. social responsibility.
7. c. reducing
8. b. public interests.