6 Written Questions

1. a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation
2. two or more outlets that are commonly owned and controlled
3. an off price retailer that sells a limited selection of brand name grocery items, appliances, clothing, and a hodgepodge of other goods at deep discounts to members who pay annual membership fees
4. a retail organization that carries a wide variety of product lines, each line is operated as a separate department managed by specialists buyers or merchandisers
5. a wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods
6. combines supermarket and department store, carries an enormous range of products from groceries to merchandise

6 Multiple Choice Questions

1. all activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use
   1. Wholesaling
   2. Retailing
   3. Franchise
   4. Agent
2. an off price retailing operation that is owned and operated by a manufacturer and that normally carries the manufacturers surplus, discontinued, or irregular goods
   1. Chain Store
   2. Factory Outlet
   3. Broker
   4. Category Killer
3. a large, low cost, low margin, high volume, self service store that carries a wide variety of grocery and household products
   1. Supermarket
   2. Hypermarket
   3. Superstore
   4. Broker
4. a contractual association between a manufacturer, wholesaler, or service organization and independent businesspeople who buy the right to own and operate one or more units in the franchise system.
   1. Franchise
   2. Chain Store
   3. Broker
   4. Retailing
5. a concept that states that new types of retailers usually begin as low margin, low price, low status operations but later evolve into higher priced, higher service operations, eventually becoming like the conventional retailers they replaced
   1. Retailing
   2. Wheel of Retailing
   3. Off Price Retailer
   4. Wholesaling
6. a retailer that buys at less than regular wholesale prices and sells at less than retail. Examples are factory outlets, independents, and warehouse clubs
   1. Wheel of Retailing
   2. Factory Outlet
   3. Superstore
   4. Off Price Retailer

5 True/False Questions

1. Superstore → a large, low cost, low margin, high volume, self service store that carries a wide variety of grocery and household products

   True        False

2. Specialty Store → two or more outlets that are commonly owned and controlled

   True        False

3. Category Killer → a giant specialty store that carries a very deep assortment of a particular line and is staffed by knowledgeable employees

   True        False

4. Wholesaling → all activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use

   True        False

5. Convenience Store → two or more outlets that are commonly owned and controlled

   True        False