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. Management theory incorporating Japanese emphasis on collective decision making and concern for employees with American emphasis on individual responsibility is ____.






2. Form of nonstore retailing in which the telephone is used to sell directly to consumers






3. Portion of a brand that can be expressed orally - including letters - words - or numbers






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






5. Deliver quality products - and provide effective customer service; keeps customers satisfied and helps retain long-term loyalty






6. 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






7. Independent and well informed buyers and sellers of the exact same product (farmers markets)






8. Amount earned from sales of goods or services and inflow from miscellaneous sources such as interest - rent - and royalties






9. Poor predictor of what will excite consumers in the future; sometimes ineffective because it is conducted in an artificial setting






10. Exchange of value between parties






11. Marketers try to extend the life of the product by highlighting improvements or by repackaging the product in different sizes






12. Within an organization essentially answers the question 'Who reports to whom?' - Specific flow of authority down through the levels of an organization's structure.






13. Tension that exists when a person's beliefs don't match his or her behaviors: a common example is buyer's remorse - when someone regrets a purchase immediately after making it






14. Those groups - individuals - and organizations that are directly affected by the practices of an organization and who therefore have a stake in its performance






15. Employee who detects and tries to put an end to a company's unethical - illegal - or socially irresponsible actions by publicizing them






16. Building a specific and unique product to meet the needs of one consumer






17. Ethical or unethical behaviors by employees in the context of their jobs






18. A focus on developing and maintaining long-term relationships with customers - suppliers - and distribution partners for mutual benefit






19. Acquiring funds by selling shares of a company's stock






20. 12 month accounting period that begins on January 1 and ends on December 31






21. Measure of a firm's short-term liquidity - calculated by adding cash - marketable securities - and receivables - then divided that sum by current liabilities; also known as the acid-test ratio






22. The delivery of marketing messages to people who are not aware that they are being marketing to; these messages can be delivered by either acquaintances or strangers - depending on the technique






23. Online ads that are linked to search engine results or website content






24. A leadership style where the manager is directive and controlling






25. Law created by consistitution(s) or by federal - state - or local legislative acts






26. A Theory Y manager is most likely to ____.






27. Inexpensive good or service purchased and consumed rapidly and regularly






28. Market or industry in which there is only one producer that can therefore set the prices on all of its products






29. One seller of a product - denies people competition and is against the law (They can typically raise prices)






30. Partner who does not share in a firm's management and is liable for its debts only to the limits of said partner's investment






31. The purchase of one company by another






32. A business that is involvec with moving goods from producers to consumers






33. Wide range of events and activities (including coupons - rebates - contests - in-store demonstrations - free samples - trade shows - and point-of-purchase displays) designed to stimulate interest in a product






34. Illegal practice of using special knowledge about a firm for profit or gain






35. Systems for moving goods and services from producers to customers; also known as marketing channels






36. Something produced by the intellect or mind that has commercial value






37. Use a brand name on a variety of related products






38. Management process of determining what an organization needs to do and how best to get it done






39. Enactment of federal regulations to restore public trust in accounting practices by imposing new requirements on financial activities in publicly traded corporations






40. Organization through which member nations negotiate trading agreements and resolve disputes about trade policies and practices






41. Top management team of a corporation






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






43. Represents how many employees the manager is responsible for in the organization - Narrow spans of control allow managers to be much more hands-on with employees.






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






45. Law made by the authority of administrative agencies






46. Choosing one alternative from among several options






47. All costs of operation that are not included under cost of goods sold






48. Free or bargain-priced items offered to encourage customers to buy a product






49. Market structure that does not meet all conditions of perfect competition - three catagories: monopolistic - oligopoly & monopoly






50. Corporation whose stock is held by only a few people and is not available for sale to the general public