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. Multiple year; compares two ratios in company's financial statements; sales - sales returns/allowance - net sales - gross marginal






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






3. A statement of what is to be accomplished that is expressed in singular - specific - and measurable terms with a target date






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






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






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






7. External statistical descriptors such as age - income - gender - and profession






8. Lots of leeway to workers to meet goals






9. Portion of a brand that cannot be expressed verbally






10. Something that the employee dislikes is taken away






11. Statement or document that defines the direction and scope of the promotional activities that a company will use to meet its marketing objectives






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






13. Postsales reductions in price - must be applied for by the purchaser






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






15. Products having nonphysical features - such as information - expertise - or an activity that can be purchased






16. 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






17. A business firm that does things for you instead of making or makerting products






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






19. Small software programs that provide part of the functionality of a website






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






21. 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






22. Communications channels - such as newspapers - radio - and television






23. Strategies a company can adopt in order to grow: concentration - backward and forward integration - and related and unrelated diversification






24. Set of organizational activities directed at attracting - developing - and maintaining an effective workforce






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






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






27. Organization in which most decision-making authority is held by upper-level management






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






29. Stems from personal trust and respect members have for the leader






30. The degree to which customers continue to purchase a specific brand






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






32. Compensation other than wages and salaries






33. Payments other than wages or salaries - other benefits






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






35. Obtain goods they cannot produce - reflect comparative advantage - and create jobs






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






37. Short-term credit or debt amounts that a company owes its suppliers: the company's "bills" in other words






38. A type of imperfect competition such that competing producers sell products that are differentiated from one another as good but not perfect substitutes (such as from branding - quality - or location). In monopolistic competition - a firm takes th






39. Electronic media that invite participation by the general public






40. Overall plan for marketing a product: includes the identification of target market segments - a positioning strategy - and a marketing mix






41. The value that a company has built up in a brand






42. Money paid to acquire something of permanent value in a business






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






44. Help identify and distinguish the product - provide information about the product such as ingredients - shelf life - operating procedures - and UPC codes which are used for scanning sales information and monitoring inventory and pricing






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






46. Customer value added by making a product available in a convenient location






47. Activities producing intangible and tangible products - such as entertainment - transportation - and education






48. Statement of beliefs and values that direct behavior - clear concise manner and included in staff handbooks and annual reports.






49. The combined use of tactical and strategic management






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