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. Markets focus on increasing the product's market share






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






3. Demographics - psychographics - and geographics






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






5. The combined use of tactical and strategic management






6. Business costs that remain constant regardless of the number of units produced






7. Wide variety of persuasive techniques used by companies to communicate with their target markets and the general public






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.






9. Industry in which one company can most efficiently supply all needed goods or services






10. Acquiring funds through borrowing






11. An increase in liabilities






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






13. Statement of a firm's financial position on a particular date; also known as a statement of financial position






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






15. Compensation other than wages and salaries






16. Introductory stage - growth stage - maturity stage - decline stage






17. Using promotion - product - distribution - and price to differentiate a good or service from those of competitors in the mind of the prospective buyer






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






19. Promotional campaigns that send information only to those people who've specifically asked to receive it






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






21. Selling one product at a loss as a way to entice customers to consider other products






22. Process of subdividing a market into homogeneous groups to identify potential customers and to devise marketing approaches geared to their needs and interests






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






24. The phase in which unemployment begins to decrease. demand for goods and services increase - and GDP begins to rise






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






26. A large number of identical products are assembled using a continuous - efficient procedure






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






28. Process of planning and executing the conception - pricing - promotion - and distribution of ideas - goods - and services to create and maintain relationships






29. In a ____ authority originates at the top and moves downward in a line.






30. Beliefs about what is right or wrong and good or bad in actions that affect others






31. Formal agreement to set prices. Sometimes illegal - but is typically secretive






32. Manager responsible for a firm's overall performance and effectiveness






33. Gathering of media representatives at which companies announce new information; also called a press conference or press briefing






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






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






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






37. Intermediary who sells products directly to consumers






38. Management process of monotoring an organization's performance to ensure that it is meeting its goals






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






40. By making changes in policies or resolving conflicts in the workplace - a manager is working within his or her ____.






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






42. Examining your current marketing situation - assessing your opportunities and setting your objectives - and developing your market strategy






43. Good or service used as the basis of commerce






44. Top manager who is responsible for the overall performance of a corporation






45. Organization in which a great deal of decision-making authority is delegated to levels of management at points below the top






46. A forecast of financial requirements and the financing sources to be used






47. A formal pledge obligating the issuer (the company) to pay interest periodically and repay the principal at maturity






48. Rewarded for good performance; something the employee likes is praised






49. Process of dealing with employees who are represented by a union






50. Personal selling - advertising - direct marketing - sales promotion - public relations - social media - postsales communications