Test your basic knowledge |

Business Fundamentals

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Identification and marketing of a social issues - cause - or idea to selected target markets






2. Protects art and literary work - give authors exclusive right to publish - sell and reproduce their work






3. Operating expenses - such as office and administrative expenses - not directly associated with creating or marketing a good or a service






4. The process in which managers and their employees jointly set objectives for the employees - periodically evaluate performance - and reward according to the results






5. Markets focus on increasing the product's market share






6. A period where demand begins to decrease - businesses lower production of goods and services - unemployment begins to rise - and GDP growth slows for two or more quarters






7. The state of being certain that adverse effects will not be caused by some agent under defined conditions






8. Process by which the world is becoming a single interdependent system






9. Business with two or more owners who share in both the operation of the firm and the financial responsibility for its debts






10. Ratios that measure the effectiveness of the firm's use of its resources






11. Small software programs that provide part of the functionality of a website






12. Deliver quality products - and provide effective customer service; keeps customers satisfied and helps retain long-term loyalty






13. Cost-based pricing - price-based pricing - optimal pricing - skim pricing - penetration pricing - loss-leader pricing - auction pricing






14. Larger visual and multimedia ads that appear on websites






15. Identification and analysis of organizational strengths and weaknesses and environmental opportunities and threats as part of strategy formulation






16. Utilitarianism: outcome oriented - focuses on the consequences of an action - not on the nature of the action itself or on any set of preestablished moral values or religious beliefs.






17. Roles of shareholders - directors - and other managers in corporate decision making and accountability






18. Management process of determining what an organization needs to do and how best to get it done






19. Marketing approach in which firms first ask permission to deliver messages to an audience and then promise to restrict their communication efforts to those subject areas in which audience members have expressed interest






20. Court-granted permission for a company to not pay some or all debts






21. The combined use of tactical and strategic management






22. The union of two corporations to form a new corporation






23. Strategy of coordinating and integrating all communications and promotional efforts with customers to ensure greater efficiency and effectiveness






24. Customer value created by converting raw materials and other inputs into finished goods and services






25. Brief statement or video program released to the press announcing new products - management changes - sales performance - and other potential news items






26. Expensive - rarely purchased good or service






27. Specification of the jobs to be done within an organization and the ways in which they relate to one another






28. Good or service used as the basis of commerce






29. A series of related products offered by a firm






30. Behavior that does not conform to generally accepted social norms concerning beneficial and harmful actions






31. Assets retained for long-term use - such as land - buildings - machinery - and equipment; also referred to as property - plant - and equipment






32. Loss of brand identity and the cannibalization of sales of other products in the product line






33. Costs created in the process of generating revenues






34. Provides protection for the product - makes products easier to display - and attracts attention






35. A measure of the sensitivity of demand to changes in price






36. Discount offered by producers to wholesalers and retailers






37. Worker - consumer - citizen Consumers vote in favor of goods and services; Worker productivity is important for a nations advancement; Citizens join with other citizens in making some economical decision for the good of the community






38. The delivery of marketing messages to people who are not aware that they are being marketing to; these messages can be delivered by either acquaintances or strangers - depending on the technique






39. Codified rules of behavior enforced by society






40. Media: tv - radio - internet - print; audience: broad - intensity: passive - purpose: inform - persuade






41. Creating a flatter organization structure normally cutting out middle management






42. Compensation other than wages and salaries






43. Process of planning and executing the conception - pricing - promotion - and distribution of ideas - goods - and services to create and maintain relationships






44. Media: mail - telephone - internet - audience: target potential buyers - intensity: passive - purpose: persuade






45. Internal descriptors such as attitudes - interests - values - behaviors - and habits






46. Leaders need vision that is realistic and feasible. The strategic vision should be clear - cohesive - consistent and flexible. Includes analysis of the agency's internal and external environments (strengths - weaknesses - opportunities - and thr






47. Media: person to person - telephone - web; audience: small groups; intensity: high; purpose: inform - persuade






48. Bar codes on product packages that provide information read by optical scanners






49. Business costs that increase with the number of units produced






50. Intermediary who sells products to other businesses for resale to final consumers