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Test your basic knowledge |
Business Fundamentals
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Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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. Where products are conveniently placed for customers
behavioral segmentation
rebates
trade allowance
place utility
2. Bar codes on product packages that provide information read by optical scanners
Universal Product Codes
national brands
Labor Productivity
Deregulation
3. Exchange of value between parties
Imperfect Competition
downsizing
transaction
brand extension
4. From of sexual harassment deriving from off-color jokes - lewd comments - and so forth
Labor Union
balance sheet
Hostile Work Environment
laissez-faire Leadership style
5. Building a specific and unique product to meet the needs of one consumer
Purpose of Strategic Planning
sales promotion
Custom Manufacturing
marketable securities
6. A formal pledge obligating the issuer (the company) to pay interest periodically and repay the principal at maturity
Purpose of Strategic Planning
Corporate Bond
Private enterprise
accounting equation
7. Promotional approach designed to motivate wholesalers and retailers to push a producer's products to end users
bundling
push strategy
Chief Executive Officer (CEO)
Workplace Diversity
8. Behavior conforming to generally accepted social norms concerning beneficial and harmful actions
Ethical Behavior
growth strategies
Procedure
brand managers
9. Complete list of all products that a company offers for sale
Ethical Behavior
Services
product mix
accounts receivable turnover ratio
10. A sustained increase in the general level of prices
merger
Delegation
public relations approach
Inflation
11. Vying among businesses for the same resources or customers
Flat Organizational Structure
Competition
integrated marketing communications
Organizational Stakeholders
12. Advertising that tries to sell specific goods or services - generally by describing features - benefits - and occasionally - price
Environmental Analysis
Identity Influence
cost of goods sold equation
product advertising
13. Expensive - rarely purchased good or service
Service Business
product life cycle
Restructuring
Specialty Good/Specialty Service
14. Business costs that increase with the number of units produced
Gross Domestic Product (GDP)
variable costs
Flat Organizational Structure
assets equation
15. When a task is too time consuming for a manager to handle alone - he or she may ____.
why companies learn about customers so they can stay in touch with their current needs and wants
Audit
organizational market
delegate the task
16. Process for evaluating proposed investments in select projects that provide the best long-term financial return
functional strategies
Natural monopoly
psychographics
capital budgeting
17. Acquiring funds by selling shares of a company's stock
Affirmative Action
equity financing
reminder advertising
World Trade Organization (WTO)
18. Marketers focus on stimulating demand for the new product
introductory stage
brand names
grand strategies
quality control circles
19. Loss of brand identity and the cannibalization of sales of other products in the product line
assets equation
risks of product-line extensions
Authority
Demand
20. Strategy of coordinating and integrating all communications and promotional efforts with customers to ensure greater efficiency and effectiveness
Outcome-based ethics
Out-sourcing
integrated marketing communications
Management Information System (MIS)
21. Governing body of a corporation that reports to its shareholders and delegates power to run its day-to-day operations while remaining responsible for sustaining its assets
Board of Directors
institutional advertising
profitability ratios
pull strategy
22. A detailed series of related steps or tasks written to implement a policy is called a ____.
Limited Liability Corporation (LLC)
Procedure
demographics
Deregulation
23. Top manager who is responsible for the overall performance of a corporation
Real GDP
Sexual Harassment
Chief Executive Officer (CEO)
Business Plan
24. Process of converting government enterprises into privately owned companies
contract
vertical analysis
Privatization
media
25. Private funds - partners/shareholders - bank loans - asset leasing and hire purchase - venture capital/business angels - merger capital - retained profits
Business (or Competitive) Strategy
Export
methods of finance for an expanding business
statement of cash flows
26. Promotional campaigns that send information only to those people who've specifically asked to receive it
profitability ratios
permission marketing
close the books
Strategic Management
27. Media: person to person - telephone - web; audience: small groups; intensity: high; purpose: inform - persuade
personal sales approach
Purchasing Power Party
Workplace Diversity
product
28. Any things of value owned or leased by a business such as equipment - cash - land - buildings - inventory - investments - patents - and copyrights
Operations (Production) Management
types of utility
assets
debt-to-total-assets ratio
29. Amount remaining when the cost of goods sold is deducted from net sales; also known as gross margin
gross profit
depreciation
demographics
psychographics
30. Offering several products for a single price that is presumably lower than the total of the products' individual prices
bundling
Hostile Work Environment
cost of goods sold equation
Business Plan
31. Arrangement in which a buyer (franchisee) purchases the right to sell the good or service of the seller (franchiser)
Franchise
loss-leader pricing
Pure Competition
Accountability
32. When the seller doesn't set a firm price but allows buyers to competitively bid on the products being sold
Stockholder (or Shareholder)
license
5 C's
auction pricing
33. Amounts that are currently due to a company
accounts receivable
Crisis Management
Ethics
Corporation
34. Agreement to gradually eliminate tariffs and other trade barriers among the United States - Canada - and Mexico
Patent
Reward Influence
Mission Statement
North American Free Trade Agreement (NAFTA)
35. The willingness and ability of producers to offer a good or service for sale
Supply
grand strategies
target markets
depreciation
36. A name - term - sign - symbol - design or combination of those used to identify the products of a firm and competing products
how companies learn about customer
accounts receivable
brand
advertising
37. Occurs when two companies form one corporation
product advertising
Exchange Rate
merger
Private enterprise
38. The process of analyzing and adjusting the basic financial plan to correct for forecasted events that do not materialize
financial control
introductory stage
product life cycle
Deregulation
39. Larger visual and multimedia ads that appear on websites
online display advertising
geographics
current ratio
line organization
40. Nonsales communication that businesses have with their various audiences
public relations
Consumer Goods
close the books
demographics
41. Partner who actively manages a firm and who has unlimited liability for its debts
permission-based marketing
Long-range or strategic planning
consumer promotion
General (Active) Partner
42. Measures income earned on owners' investment - formula: Net income/total owners' equity
permission marketing
accounts payable
return on equity ratio
marketing research
43. Media: tv - radio - internet - print; audience: broad - intensity: passive - purpose: inform - persuade
advertising approach
Franchise
5 C's
Gross National Product (GNP)
44. A series of related products offered by a firm
product line
break-even point equation
Import
Corporation
45. The process of comparing an organization's products or services and processes with those of another companies
Services
point-of-purchase display
Variance
benchmarking
46. Activities needed to move a product efficiently from manufacturer to consumer
Physical Distribution
integrated marketing communications
Work Specialization
Real GDP
47. Managers and workers cooperating as a team
Whistle Blower
Corporate Bond
Democratic Leadership Style
management by objectives (MBO)
48. Media: discounts - coupons - rebates; audience: targeted; intensity: passive; purpose: persuade
customer loyalty
Leadership
marketing research
sales promotion approach
49. Pricing selling one product at a loss as a way to entice customers to consider other products
Audit
loss-leader
pull strategy
Manufacturer
50. Unwelcome sexual advances in the workplace
Sexual Harassment
test marketing
market segmentation
demographics
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