A particular segment of the business market includes

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20. A particular segment of the business market includes those individuals and organizations that purchase goods and services for the purpose of making a profit. They achieve this goal by using purchased goods and services to make other goods, to become part of other goods, or to facilitate the daily opera- tions of the organization. This group is called the _____ segment of the business market. a. institution b. reseller c. wholesaler d. producer e. government ANS: D This describes the producer segment of business customers. PTS: 1 REF: 104 OBJ: 07-4 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Customer 21. According to the text, another commonly used name for producers is:
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22. Corn refiners buy shelled corn and convert it into a variety of products, including high fructose corn syrup. The refiners then sell the syrup to soda and food product companies for use in foods and bever- ages. The corn refiners represent the _____ sector of the business market. PTS: 1 REF: 104 OBJ: 07-4 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Customer 23. Southern Fireworks Manufacture Company in Liuyang, China provides fireworks for companies in America such as Premier Pyrotechnics in Richland, Missouri. This means that Southern is a (n): PTS: 1 REF: 104 OBJ: 07-4 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Customer 24. Caterpillar, the manufacturer of earthmoving equipment, uses completed drivetrains (engines-transmis- sions-axles), drivetrain components, electronic controls, hydraulic and electrohydraulic components and systems, cooling systems, and undercarriage track systems produced by other organizations in its manufacturing process. Caterpillar is an example of a(n): a. fabricator b. installer c. original equipment manufacturer d. product provider e. component network ANS: C An original equipment manufacturer (OEM) is an organization that buys business goods and incorpor- ates them into the products it produces and sells.
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