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. An action is morally correct - when - among the people it affects...






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






3. Amount remaining when the cost of goods sold is deducted from net sales; also known as gross margin






4. The level of joblessness among people actively seeking work in an economic system






5. The processes and behaviors used by someone - such as a manager - to motivate - inspire - and influence the behaviors of others






6. Categorization of customers according to their geographical location






7. Marketing efforts to attract people and organizations to a particular geographical area






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






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






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






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






12. Marketing approach in which firms first ask permission to deliver messages to an audience and then promise to restrict their communication efforts to those subject areas in which audience members have expressed interest






13. Total value of all goods and services produced within a given period by a national economy through domestic factors of production






14. 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






15. Helps companies set goals - develop new products - segment markets - plan future marketing programs - evaluate the effectiveness of a marketing program - keep an eye on competition - and measure customer satisfaction






16. Employee hired on something other than a full-time basis to supplement an organization's permanent workforce






17. Process through which a manager allocates work to subordinates






18. When organizations change raw materials into finished goods






19. Accounting procedure for systematically spreading the cost of a tangible asset over its estimated useful life






20. Selling or supporting the sales process over the telephone






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






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






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






24. 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






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






26. Government agency charged with assisting small businesses - a govt agency that helps small business owners develop business plan and obtain financing and other support for their companies






27. Positive reinforcement - negative reinforcement - punishment






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






29. When the seller doesn't set a firm price but allows buyers to competitively bid on the products being sold






30. Broad set of organizational plans for implementing the decisions made for achieving organizational goals






31. Manager responsible for implementing the strategies and working toward the goals set by top managers






32. Power to make the decisions necessary to complete a task






33. Transferring work to another country






34. Group of individuals working together to achieve shared job-related goals - such as higher pay - shorter working hours - more job security - greater benefits - or better working conditions






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






36. In bookkeeping - an increase in assets






37. Product - price - distribution - customer communication

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






39. Strategy - at the business-unit or product-line level - focusing on improving a firm's competitive position






40. The state of being certain that adverse effects will not be caused by some agent under defined conditions






41. Method of combining geographical data with demographic data to develop profiles of neighborhood segments






42. Obligations that must be next within a year






43. The total quantity and quality of goods and services people can purchase with the currency used in their economic system






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






45. The process of analyzing and adjusting the basic financial plan to correct for forecasted events that do not materialize






46. All the operating expenses associated with marketing goods or services






47. A sustained increase in the general level of prices






48. Cost-based pricing - price-based pricing - optimal pricing - skim pricing - penetration pricing - loss-leader pricing - auction pricing






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






50. Sales volume at a given price that will cover all of a company's costs