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. 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






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






3. Current assets minus current liabilities






4. Lots of leeway to workers to meet goals






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






6. Pricing selling one product at a loss as a way to entice customers to consider other products






7. The process of analyzing and adjusting the basic financial plan to correct for forecasted events that do not materialize






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






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






10. Claims against a firm's assets by creditors - such as banks and suppliers






11. 1. 5 C's (customer - company - competitors - collaborators - context) 2. market segmentation - selection of target market - product/service positioning 3. product attributes - pricing parts - promotion - placement 4. recruit customer - reta






12. Motivator and hygiene factors need to be met to prevent dissatisfaction

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13. Electronic media that invite participation by the general public






14. Method of combining geographical data with demographic data to develop profiles of neighborhood segments






15. Product that is dissimilar from those of competitors but than can fulfill the same need






16. Single year; A method of financial statement analysis in which each entry for each of the three major categories of accounts (assets - liabilities and equities) in a balance sheet is represented as a proportion of the total account; income statement






17. Form of a corporation spanning national boundaries






18. Advertising intended to remind existing customers of a product's availability and benefits






19. Refers to policies that take factors including 'race - color - religion - gender - sexual orientation or national origin' into consideration in order to benefit an underrepresented group - usually as a means to counter the effects of a history o






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






21. A phase marked by a prolonged period of high unemployment - weak sales of goods and services - and business failure






22. Portion of a brand that cannot be expressed verbally






23. This law guards against false advertising.






24. By studying consumer buying behavior - conducting market research - and capturing and analyzing consumer data






25. 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






26. Goal set for an extended time - typically 5 years or more in the future






27. People are lazy






28. A group of customer who need or want a particular product and have the money to buy it






29. Where products are conveniently placed for customers






30. Any 12 consecutive months used as an accounting period






31. Management process of determining how to best arrange an organization's resources and activities into a coherent structure






32. Introducing a new product at a low price in hopes of building sales volume quickly






33. A business that grows products or takes raw material from nature






34. Measure of a firm's short-term liquidity - calculated by divided current assets by current liabilities






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






36. The practice of paying suppliers and distributors to perform certain business processes or to provide needed materials or services






37. Strategic alliance in which the collaboration involves joint ownership of the new venture






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






39. The creation and sharing of product-related information among customers and potential customers






40. A prolonged and deep recession






41. Measure of profitability calculated by divided net income after taxes by the average number of shares of common stock outstanding






42. Nonsales communication that businesses have with their various audiences






43. Continually adjusting prices to reflect changes in supply and demand






44. Product made or grown domestically but sold abroad






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






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






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






48. Larger visual and multimedia ads that appear on websites






49. An action is morally correct - when - among the people it affects...






50. Mix of people in organizations in terms of essential/demographic status






Can you answer 50 questions in 15 minutes?



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