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. Particular blend of personal selling - advertising - direct marketing - sales promotion - and public relations that a company uses to reach potential customers






2. The purchase of one company by another






3. Court-granted permission for a company to not pay some or all debts






4. Delegating more power to employees






5. A period where demand begins to decrease - businesses lower production of goods and services - unemployment begins to rise - and GDP growth slows for two or more quarters






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






7. Transferring work to another country






8. Portion of a brand that cannot be expressed verbally






9. An increase in liabilities






10. 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






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






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






13. Customer (needs/wants) - Company (competencies) - Competitors (who compete in the same markets) - Collaborators (people who increase value) - Context (political - economic - social - technology)

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


14. Markets focus on increasing the product's market share






15. Measure of time a company takes to turn its accounts receivable into cash - calculated by divided sales by the average value of accounts receivable for a period






16. Ratio between net income after taxes and net sales; also known as profit margin






17. The process of comparing an organization's products or services and processes with those of another companies






18. Product made or grown abroad but sold domestically






19. Promotional approach designed to motivate wholesalers and retailers to push a producer's products to end users






20. Brands owned by the manufacturers and distributed nationally






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






22. Activities producing tangible products such as radios - newspapers - buses and textbooks






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






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






25. Strategy in which two or more organizations collaborate on a project for mutual gain






26. Confusion results if a person reports to two people at once - according to ____.






27. Expensive - rarely purchased good or service






28. Good or service used as the basis of commerce






29. 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






30. Media: news release; audience: broad - intensity: passive - active; purpose: inform






31. Corporation whose stock is widely held and available for sale to the general public






32. Skills in defining problems and selecting the best courses of action






33. Offering a temporary reduction in price






34. 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






35. A business that grows products or takes raw material from nature






36. A document - generally issued by a state government - giving permission to start a corporation






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






38. Business owned and usually operated by one person who is responsible for all its debts






39. Occurs when two companies form one corporation






40. A measure of the sensitivity of demand to changes in price






41. Unwelcome sexual advances in the workplace






42. Assets = liabilities + owner's equity






43. Classification of customers on the basis of their psychological makeup - interests - and lifestyles






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






45. Individuals or households that buy goods and services for personal use






46. Location






47. Protects art and literary work - give authors exclusive right to publish - sell and reproduce their work






48. Hybrid of a publicly held corporation and a partnership in which owners are taxed as partners but enjoy the benefits of limited liability






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






50. Gross domestic product (GDP) adjusted to account for changes in currency values and price changes