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Test your basic knowledge |
Business Fundamentals
Start Test
Study First
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. Markets focus on increasing the product's market share
unity of command
3 Economic Role
Unethical Behavior
growth stage
2. Loss of brand identity and the cannibalization of sales of other products in the product line
risks of product-line extensions
Corporate Bond
Affirmative Action
decline stage
3. Demographics - psychographics - and geographics
primary factors of market segmentation
market segmentation
behavioral segmentation
Processing
4. Is a drawing that represents every job in the organization and the formal reporting relationships between those jobs.
Long-range or strategic planning
Depression
Organizational Chart
Long-Term Goal
5. The combined use of tactical and strategic management
Export
Mixed Management
direct marketing
cost based pricing
6. Business costs that remain constant regardless of the number of units produced
telemarketing
Common Law
Audit
fixed costs
7. Wide variety of persuasive techniques used by companies to communicate with their target markets and the general public
promotion
positioning
Top Manager
fringe benefit
8. Are a more complex form of organizational design that tries to take advantage of two types of structures at the same time. - The matrix represents a combination of a functional structure and a product structure.
Mixed Management
Matrix Structures
statement of cash flows
negative reinforcement
9. Industry in which one company can most efficiently supply all needed goods or services
Sexual Harassment
job rotation
Natural monopoly
fixed costs
10. Acquiring funds through borrowing
debt financing
transaction
loss-leader
Decentralized Organization
11. An increase in liabilities
Hostile Work Environment
Retrenchment
types of utility
debit
12. Ratios that measure a firm's ability to meet its short-term obligations when they are due - judged on the basis of working capital - current ratio - and quick ratio
ways to expand a product line
liquidity ratios
Mass Production
Audit
13. Statement of a firm's financial position on a particular date; also known as a statement of financial position
balance sheet
form utility
Natural monopoly
Telemarketing
14. Activities needed to move a product efficiently from manufacturer to consumer
Short-range or operational planning
Physical Distribution
debt-to-equity ratio
Competition
15. Compensation other than wages and salaries
Leading
Benefits
functional strategies
Limited Partnership
16. Introductory stage - growth stage - maturity stage - decline stage
stages in the life cycle of a product
Expert Influence
media
Organizing
17. Using promotion - product - distribution - and price to differentiate a good or service from those of competitors in the mind of the prospective buyer
Management Information System (MIS)
positioning
current assets
it produces the greatest amount of good for the greatest number
18. S- strengths W- weaknesses O- opportunities T- threats - strengths and weaknesses are internal factors of the company; opportunities and threats are external factors towards the company
Real GDP
Decision Making
Strategic Alliance
SWOT analysis
19. Promotional campaigns that send information only to those people who've specifically asked to receive it
market segmentation
permission marketing
Long-Term Goal
common pricing strategies
20. Non-fluctuating rate that banks use to offer short-term loans of high dollar amounts made up of several interest rates
debt financing
growth strategies
telemarketing
Prime Rate
21. Selling one product at a loss as a way to entice customers to consider other products
statement of cash flows
loss-leader pricing
profitability ratios
time utility
22. Process of subdividing a market into homogeneous groups to identify potential customers and to devise marketing approaches geared to their needs and interests
market segmentation
job rotation
Physical Distribution
advertising
23. Advertising that appears on various items such as coffee mugs - pens - and calendars - designed to help keep a company's name in front of customers
authority
specialty advertising
Privatization
First-Line Manager
24. The phase in which unemployment begins to decrease. demand for goods and services increase - and GDP begins to rise
telemarketing
Decision-Making Skills
Recovery
Outcome-based ethics
25. A group of customer who need or want a particular product and have the money to buy it
market
Real GDP
need
accounts payable
26. A large number of identical products are assembled using a continuous - efficient procedure
Competition
Multinational (or Transnational) Corporation
Mass Production
Export
27. By studying consumer buying behavior - conducting market research - and capturing and analyzing consumer data
return on equity ratio
exchange process
Real GDP
how companies learn about customer
28. Process of planning and executing the conception - pricing - promotion - and distribution of ideas - goods - and services to create and maintain relationships
elements of a company's marketing mix
capital budgeting
marketing
Venture Capital Company
29. In a ____ authority originates at the top and moves downward in a line.
Deregulation
time utility
brand managers
line organization
30. Beliefs about what is right or wrong and good or bad in actions that affect others
Goals
Ethics
promotion
Limited Partner
31. Formal agreement to set prices. Sometimes illegal - but is typically secretive
5 C's
brand loyalty
Recession
Collusion
32. Manager responsible for a firm's overall performance and effectiveness
Centralized Organization
need
Top Manager
Organizing
33. Gathering of media representatives at which companies announce new information; also called a press conference or press briefing
net income
marketing
news conference
Democratic Leadership Style
34. Identification and marketing of a social issues - cause - or idea to selected target markets
cause-related marketing
authority
capital budgeting
Monopolistic competition
35. This level of management includes department heads and district sales managers.
middle management
theory y
Policy
product life cycle
36. Products characterized by a plain label - with no advertising and no brand name
generic products
demographics
brand managers
productivity - the success of the managers - and the morale of the other employees
37. Intermediary who sells products directly to consumers
communication mix
Import
Retailer
First-Line Manager
38. Management process of monotoring an organization's performance to ensure that it is meeting its goals
form utility
Controlling
Identity Influence
Procedure
39. ____ help focus attention on what is important and are broader statements than objectives. More quantitative the ____ - the more likely its achievement is to receive attention and less likely it is to be distorted. The end or outcome to be accomplis
ways to expand a product line
Goals
Small Business Administration (SBA)
Short-range or operational planning
40. By making changes in policies or resolving conflicts in the workplace - a manager is working within his or her ____.
objectives
place marketing
positioning
decision-making role
41. Advertising intended to remind existing customers of a product's availability and benefits
Maslow's hierarchy of needs
types of financial ratios
World Trade Organization (WTO)
reminder advertising
42. Examining your current marketing situation - assessing your opportunities and setting your objectives - and developing your market strategy
certain disabilities and illnesses
return on investment
steps in the strategic marketing planning process
Affirmative Action
43. Good or service used as the basis of commerce
Natural monopoly
product
why companies learn about customers so they can stay in touch with their current needs and wants
line organization
44. Top manager who is responsible for the overall performance of a corporation
Quid Pro Quo Harassment
Chief Executive Officer (CEO)
long-term liabilities
Corporate Strategy
45. Organization in which a great deal of decision-making authority is delegated to levels of management at points below the top
place utility
product advertising
Decentralized Organization
Management
46. A forecast of financial requirements and the financing sources to be used
credit
product advertising
financial plan
Depression
47. A formal pledge obligating the issuer (the company) to pay interest periodically and repay the principal at maturity
types of utility
Corporate Bond
General (Active) Partner
S Corporation
48. Rewarded for good performance; something the employee likes is praised
inventory turnover ratio
merger
Corporate Governance
positive reinforcement
49. Process of dealing with employees who are represented by a union
Labor Relations
persuasive advertising
assume that all workers are content with their work
Swot Analysis
50. Personal selling - advertising - direct marketing - sales promotion - public relations - social media - postsales communications
private brands
maturity stage
Organization Chart
categories of customer communication