1) Which of the following is a term for physical goods that are bought and sold? a) Sales  b) Products c) Pricing d) Services 2) Which of the following terms best describes a grower of potatoes? a) Manufacturer b) Wholesaler c) Distribution center d) Retailer 3) Which of the following is a standard term that describes the audience of retail stores- that is, the people who will buy things from the stores? a) Manufacturers b) Wholesalers c) Buyers d) Customers 4) The majority of retailers are: a) Independently owned b) Corporations c) Franchises d) Online only 5) Which of the following is a term for intangible things, such as providing delivery, that are sold by retailers? a) Gifts b) Training c) Services d) Products 6) Which of the following is the term for the retailing approach that places the focus on creating a seamless shopping experience for customers by integrating multiple channels? a) Multichannel b) Omnichannel c) Integrated channel d) Seamless channel 7) What kinds of things does a manufacturer produce? a) Raw materials b) Fossil fuels c) Services d) Finished products 8) Which of the following is the standard definition of a retail ecosystem? a) An interconnected system of approaches for meeting the goal of retailing, which is to provide customers with the merchandise and services they want. b) A group of stores that work together collaboratively to serve customers' needs. c) A team of store employees who help each other. d) A set of technological systems that work together in order to make sure all products in a retailer's inventory are tracked and accounted for. 9) Which of the following holds large quantities of product that are later sent either to retail locations or directly to customers? a) Manufacturer b) Wholesaler c) Distribution center d) Retailer 10) Approximately what percentage of U.S. jobs are retail jobs? a) 5-10% b) 10-15% c) 20-25% d) 35-40%

Retail Knowledge Check: CUSTOMER SERVICE & SALES RETAIL INDUSTRY OVERVIEW

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