Final answer:
The supply chain in a business context typically includes suppliers, manufacturers, wholesalers, retailers, and customers, which is option 2 in the choices provided.
Step-by-step explanation:
The supply chain consists of various entities that are involved in producing and delivering a product or service to the end user. As a high school student studying business concepts, it is important to understand who makes up this chain. The correct answer to the question 'In terms of people/organizations, what does a supply chain consist of?' is option 2: Suppliers, manufacturers, wholesalers, retailers, and customers. This sequence reflects the typical flow of goods from production to final consumption. Suppliers provide raw materials, manufacturers create the products, wholesalers distribute them in bulk, retailers sell to the public, and customers are the end consumers of the goods or services.