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. Business costs that increase with the number of units produced






2. Individuals or households that buy goods and services for personal use






3. Intermediary who sells products directly to consumers






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






5. The company founder is no longer solely responsible for all decision making during the ____.






6. Division of a diverse market into smaller - relatively homogeneous groups with similar needs - wants - and purchase behaviors






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






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






9. Systematic direction and control of the processes that transform resources into finished products that create value for and provide benefits to customers






10. Filling caps in the market - extending the line to include new varieties of existing products - extending the brand to new product categories - and stretching the lien to include lower or higher priced items






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






12. Brands that have been given legal protection so that their owners have exclusive rights to their use






13. Gross domestic product (GDP) adjusted to account for changes in currency values and price changes






14. Payments other than wages or salaries - other benefits






15. Because production occurs continuously throughout the year - the 3-M company can best be described as using ____.






16. Objective that a business hopes and plans to achieve






17. This level of management includes department heads and district sales managers.






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






19. Difference of revenues - costs - and profit from the planned amounts.






20. Hybrid of a publicly held corporation and a partnership in which owners are taxed as partners but enjoy the benefits of limited liability






21. Once the desired price has been established - the firm focuses its energies on keeping costs at a level that will allow a healthy profit






22. Arises when group members recognize that the leader has special expertise in the area






23. Under the Americans with Disabilities Act - companies cannot fire or refuse to hire people because of...






24. The marketer must decide whether to keep the product and reduce its costs to compensate for declining sales or to discontinue it






25. Activities needed to move a product efficiently from manufacturer to consumer






26. Employee who detects and tries to put an end to a company's unethical - illegal - or socially irresponsible actions by publicizing them






27. Selling or supporting the sales process over the telephone






28. Large-scale production and distribution of a product






29. Study of statistical characteristics of a population






30. Ratio between net income after taxes and total owners' equity; also known as return on equity






31. Businesses - nonprofit organizations - and government agencies that purchase goods and services for use in their operations






32. Promotional strategy that stimulates consumer demand - which then exerts pressure on wholesalers and retailers to carry a product






33. Direct communication other than personal sales contacts designed to effect a measurable response






34. Categorization of customers according to their relationship with products or response to product characteristics






35. Products characterized by a plain label - with no advertising and no brand name






36. Employee hired on something other than a full-time basis to supplement an organization's permanent workforce






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






38. Identification and marketing of a social issues - cause - or idea to selected target markets






39. Arrangement in which a buyer (franchisee) purchases the right to sell the good or service of the seller (franchiser)






40. Unwelcome sexual advances in the workplace






41. The process of examining an organization's current marketing situation - assessing opportunities and setting objectives - then developing a marketing strategy to reach those objectives






42. A leadership style where managers are less directive and involved employees in decision making






43. Goal set for the very near future






44. Form of sexual harassment in which sexual favors are requested in return for job-related benefits






45. Diagram depicting a company's structure and showing employees where they fit into its operations






46. Those groups - individuals - and organizations that are directly affected by the practices of an organization and who therefore have a stake in its performance






47. Cash and items that can be turned into cash within one year






48. Non-fluctuating rate that banks use to offer short-term loans of high dollar amounts made up of several interest rates






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






50. Is a drawing that represents every job in the organization and the formal reporting relationships between those jobs.