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. Operating expenses - such as office and administrative expenses - not directly associated with creating or marketing a good or a service






2. 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






3. Using relative information to predict how many jobs will be needed






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






5. Measure of a firm's ability to carry long-term debt - calculated by divided total liabilities by total assets






6. Sales promotion aimed at final consumers






7. Large-scale production and distribution of a product






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






9. Strategies that deal with the most important aspects of the company's operations and provide overall direction for the company are known as ____.






10. The union of two corporations to form a new corporation






11. 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






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






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






14. Behavior that does not conform to generally accepted social norms concerning beneficial and harmful actions






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






16. Is the way in which tasks in an organization are divided into separate jobs. - Also known as division of labor - Assembly line worker.






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






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






19. Intermediary who sells products to other businesses for resale to final consumers






20. The amount of money charged for a product or service






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






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. The movement of an economy from one condition to another and back again






24. Law made by the authority of administrative agencies






25. Takes the extractor's products or raw materials and changs the into a form that consumers can use






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






27. Form of a corporation spanning national boundaries






28. Process through which a manager allocates work to subordinates






29. The activity - set of institutions - and process for creating - communicating - delivering - and enhancing offerings that have value for customers - clients - partners - and society at large






30. 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






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






32. Discount offered by producers to wholesalers and retailers






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






34. Process of converting government enterprises into privately owned companies






35. Advertising or other display materials set up at retail locations to promote products to potential customers as they are making their purchase decisions






36. Difference of revenues - costs - and profit from the planned amounts.






37. Offering several products for a single price that is presumably lower than the total of the products' individual prices






38. The quantity of a good that an average worker can produce in an hour






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






40. Exclusive right to manufacture - sell or use a new invention - prevents someone from stealing and profiting from your invention






41. A series of related products offered by a firm






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






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






44. Refers to policies that take factors including 'race - color - religion - gender - sexual orientation or national origin' into consideration in order to benefit an underrepresented group - usually as a means to counter the effects of a history o






45. Manufacturing and selling costs - competition - the needs of wholesalers and retailers who distribute the product to the final customer - the firm's marketing objectives - government regulations - quality perceptions - and customer demand






46. Legal principal holding investors liable for a firm's debts only to the limits of their personal investments in it






47. 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






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






49. Manager responsible for supervising the work of employees






50. Business costs that increase with the number of units produced