1. Which of the following is the first stage of the buying process?

Potential suppliers are searched for

a. The proposals are evaluated

b. An order routine is established

c. A need is recognized

d. A post-purchase evaluation is conducted

2. Carol feels that her company needs to start purchasing widgets in order to stay competitive in the market. She contacts the buyers within the company to get the ball rolling. Which of the following best describes Carol's role in the purchasing process?

a. Influencer

b. Gatekeeper

c. Initiator

d. Decider

e. User

3. ---------- markets are markets in which local, state, and federal governments buy products.

a. B2B

b. B2C

c. B2G

d. C2C

Institutional

4. B2B exchanges make their money by charging buyers and sellers a fee when they conduct transactions with one another.

True

False

5. The clustering of firms, that are part of the same industry, occurs because the resources these firms need both human and natural- are located in some areas and not others.

True

False

6. Organizations select a single supplier because it is less risky than utilizing multiple suppliers.

True

False

7. Suppliers are the only ones to blame for poor performance records.

True

False

8. Purchasing agents typically play an important role when potential suppliers are being researched.

True

False

9. Duties of professional buyers do not include marketing tasks, such as determining the media in which advertisements will be placed

True

False

10. Wholesalers, brokers, and retailers are examples of resellers.

True

False

11. The biggest purchaser of goods and services in the world is the U.S. consumer.

True

False

12. In business-to-government (B2G) markets, local, state, and federal governments buy products.

True

False

13. Institutional markets include state and local governments.

True

False

14. According to the speaker in https://youtu.be/IXCCiLU4Jas you

a. are unlikely to reach long term financial goals unless you're willing to invest

b. are supposed to save and invest but the speaker invites you to attend and spend money, that eat into your savings, on whatever he wants to sell you

c. are more likely to accept low interest rates on your money when you just save as opposed to when you invest

D. All of the above

E. Two of the above