SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
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. Strategy by which managers in specific areas decide how best to achieve corporate goals through productivity
close the books
Expert Influence
Functional Strategy
Quality Control
2. A formal pledge obligating the issuer (the company) to pay interest periodically and repay the principal at maturity
Corporate Bond
advertising approach
Variance
budget
3. Advertising that seeks to create goodwill and to build a desired image for a company rather than to sell specific products
functional strategies
word of mouth
Theory Z
institutional advertising
4. Set of organizational activities directed at attracting - developing - and maintaining an effective workforce
Business (or Competitive) Strategy
line organization
marketing research
Human Resource Management (HRM)
5. This level of management includes department heads and district sales managers.
middle management
organization behavior modification
discount pricing
sales promotion
6. Behavior exhibited by consumers as they consider - select - and purchase goods and services
mission statement
Imperfect Competition
Private enterprise
customer buying behavior
7. A sustained increase in the general level of prices
market share
Capitalism
Inflation
personal selling
8. The principal that exchange rates are set so that the prices of similar products in different countries are about the same
Purchasing Power Party
Organizational Structure
relationship marketing
personal sales approach
9. Organization's methods for dealing with emergencies
national brands
Monopoly
Crisis Management
Manufacturer
10. The amount of money charged for a product or service
utility
demographics
marketing concept
price
11. Promotional campaigns that send information only to those people who've specifically asked to receive it
theory y
mission statement
permission marketing
direct marketing
12. The process of comparing an organization's products or services and processes with those of another companies
benchmarking
marketing research
theory x
delegate the task
13. A ____ is an agreement between two parties to carry out a transaction - such as the sale of goods from a seller to buyer.
Extractor
decline stage
contract
form utility
14. Is the way in which tasks in an organization are divided into separate jobs. - Also known as division of labor - Assembly line worker.
Work Specialization
target markets
cost of goods sold equation
Consumer Goods
15. Markets focus on increasing the product's market share
brand
Small Business Administration (SBA)
growth stage
Bankruptcy
16. Systematic direction and control of the processes that transform resources into finished products that create value for and provide benefits to customers
Monopolistic competition
Mission Statement
current liabilities
Operations (Production) Management
17. Changing jobs or tasks from time to time
Flat Organizational Structure
Physical Distribution
license
job rotation
18. Current assets minus current liabilities
capital investments
working capital
schematic of marketing process
stealth marketing
19. Customer (needs/wants) - Company (competencies) - Competitors (who compete in the same markets) - Collaborators (people who increase value) - Context (political - economic - social - technology)
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
20. Using promotion - product - distribution - and price to differentiate a good or service from those of competitors in the mind of the prospective buyer
positioning
demographics
dynamic pricing
Marketing
21. Process of scanning the business environment for threats and opportunities
product mix
Labor Productivity
Environmental Analysis
geographic segmentation
22. Short-term credit or debt amounts that a company owes its suppliers: the company's "bills" in other words
European Union (EU)
contingency plans
Operations (Production) Management
accounts payable
23. Acquiring funds through borrowing
debt financing
Monopolistic Competition
inventory turnover ratio
debit
24. Characteristic of centralized companies with multiple layers of management
Tall Organizational Structure
public relations approach
Strategy
how companies learn about customer
25. Brief statement or video program released to the press announcing new products - management changes - sales performance - and other potential news items
Business Cycle
news release
responsibility
World Trade Organization (WTO)
26. Provides protection for the product - makes products easier to display - and attracts attention
function of packaging
distribution channels
co-branding
persuasive advertising
27. Categorization of customers according to their relationship with products or response to product characteristics
behavioral segmentation
market segmentation
Outsourcing
Long-range or strategic planning
28. Introducing a new product at a low price in hopes of building sales volume quickly
Pure Competition
social commerce
penetration pricing
product advertising
29. The process of analyzing and adjusting the basic financial plan to correct for forecasted events that do not materialize
positioning
Prosperity
financial control
Information Technology (IT)
30. Use of quantitative measures to evaluate a firm's financial performance - compares two elements from the same year's financial figures; computed by divided one element of a financial statement by another
ratio analysis
Organizational Structure
Common Law
double-entry bookkeeping
31. Good or service used as the basis of commerce
product
brand equity
news release
Marketer
32. Occurs when widespread price increases occur throughout an economic system
relationship marketing
positioning
marketable securities
Inflation
33. Free or bargain-priced items offered to encourage customers to buy a product
Limited Liability
cognitive dissonance
premiums
Convenience Good/Convenience Service
34. 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
Depression
current assets
3 Economic Role
why companies learn about customers so they can stay in touch with their current needs and wants
35. Payments other than wages or salaries - other benefits
Strategy
fringe benefit
price
theory x
36. Enactment of federal regulations to restore public trust in accounting practices by imposing new requirements on financial activities in publicly traded corporations
Sarbanes-Oxley Act of 2002 (Sarbox)
news conference
responsibility
price elasticity
37. Changes the form of material so they can be consumed or used to manufacture other products
marketable securities
Corporation
gross profit
Processing
38. Product development stage in which a product is sold on a limited basis - a trial introduction
test marketing
cause-related marketing
Nepotism
common pricing strategies
39. Particular blend of personal selling - advertising - direct marketing - sales promotion - and public relations that a company uses to reach potential customers
Top Manager
psychographics
communication mix
financial control
40. The price of your nation's currency is in terms of another nation's currency
Organizational Stakeholders
Decision Making
Exchange Rate
Regulatory (Administrative) Law
41. Ratios that measure a firm's reliance on debt financing of its operations
geodemographics
debt ratios
revenues
expenses
42. Delegating more power to employees
Matrix Structures
North American Free Trade Agreement (NAFTA)
empowerment
brand names
43. A focus on developing and maintaining long-term relationships with customers - suppliers - and distribution partners for mutual benefit
delegate the task
Outsourcing
relationship marketing
Patent
44. Corporation whose stock is held by only a few people and is not available for sale to the general public
capital budgeting
communication mix
Closely Held (or Private) Corporation
unity of command
45. ____ strategy is a plan to reverse negative trends in a company - such as the losses in sales.
Retrenchment
Convenience Good/Convenience Service
Venture Capital Company
function of packaging
46. Products having nonphysical features - such as information - expertise - or an activity that can be purchased
Services
Democratic Leadership Style
budget
product line
47. Inexpensive good or service purchased and consumed rapidly and regularly
consumer promotion
Convenience Good/Convenience Service
function of labels
stages in the life cycle of a product
48. Money paid to acquire something of permanent value in a business
Labor Productivity
vertical analysis
permission-based marketing
capital investments
49. Process through which a manager allocates work to subordinates
Delegation
Public Goods
activity ratios
Acquisition
50. Gathering of media representatives at which companies announce new information; also called a press conference or press briefing
accounts receivable
news conference
marketing mix
commercialization