Introduction to Business

Section 1: Consumer Choices

Self-Checks

1.
A person who selects, purchase, uses, and disposes of goods and services is a ______ .
A)buyer
B)consumer
C)customer
D)shopper
2.
A plan that specifies how resources will be allocated or spent during a particular period is called a(n) ______ .
A)balance sheet
B)budget
C)financial plan
D)shopping list
3.
The trade name for a product or service produced by a particular company is called a ______ .
A)brand name
B)designer label
C)trademark
D)store brand
4.
The ______ version of an item generally costs less than its brand-name counterpart.
A)basic
B)common
C)generic
D)standard
5.
A store that offers brand-name furniture, cosmetics, clothing, and shoes along with customer service is a ______ store.
A)convenience
B)department
C)limited-line retailer
D)specialty
6.
Many people stop at a(n) ______ to pick up bread and milk, regardless of price, on the way home from work.
A)convenience store
B)discount store
C)limited-line retailer
D)outlet store
7.
The person in charge of costumes for a community theater often buys clothing with flaws at ______ stores because audiences cannot see imperfections.
A)department
B)limited-line retailers
C)outlet
D)warehouse
8.
The operator of a day-care center often buys juice boxes and graham crackers in bulk at a ______ store because of the low prices.
A)convenience
B)discount
C)off-price
D)warehouse
9.
A store that has only two departments, candles and home accents, is called a ______ .
A)convenience store
B)department store
C)limited-line retailer
D)superstore
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