SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
Test your basic knowledge |
Business Fundamentals
Start Test
Study First
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. Break-even point = fixed costs/ (selling price - variable costs per unit)
Whistle Blower
break-even point equation
Restructuring
coupons
2. Effective acquisition and use of money
delegate the task
financial management
a continuous-flow operating system
Crisis Management
3. Overall plan for marketing a product: includes the identification of target market segments - a positioning strategy - and a marketing mix
marketing strategy
Privatization
Demand
Publicly Held (or Public) Corporation
4. Changes the form of material so they can be consumed or used to manufacture other products
search advertising
Processing
Quality
break-even point
5. Economic system that allows individuals to pursue their own interests without undue governmental restriction
Private enterprise
Leadership Style
reminder advertising
target markets
6. The process of changing an organization's structure - Has a small negative effect on task performance. - Has a more significant negative effect on organizational commitment.
discount pricing
accounts receivable
Affirmative Action
Restructuring
7. Offering a temporary reduction in price
public relations approach
discount pricing
Corporation
cost based pricing
8. The willingness and ability of buyers to purchase a good or service
geographic segmentation
risks of product-line extensions
debt ratios
Demand
9. The process in which managers and their employees jointly set objectives for the employees - periodically evaluate performance - and reward according to the results
Leading
management by objectives (MBO)
Organizational Stakeholders
accounts payable
10. Assets = liabilities + owner's equity
Natural monopoly
accounting equation
Organizational Structure
mission statement
11. Very few large firms dominate the market such as coke - pepsi - GM - McDonalds
Demand
Philosophy
coupons
Oligopoly
12. Classification of customers on the basis of their psychological makeup - interests - and lifestyles
growth stage
working capital
Strategic Management
psychographics
13. Customer value added by making a product available in a convenient location
place utility
social media
point-of-purchase display
current assets
14. A Theory Y manager is most likely to ____.
Retailer
social media approach
consumer market
assume that all workers are content with their work
15. 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
ratio analysis
Span of Control
specialty advertising
Limited Partner
16. Money paid to acquire something of permanent value in a business
advertising approach
cognitive dissonance
capital investments
utility
17. Charging a high price for a new product during the introductory stage and lowering the price later
growth through direction state
market segmentation
skim pricing
market
18. A phase marked by a prolonged period of high unemployment - weak sales of goods and services - and business failure
types of utility
ratio analysis
Recession
Depression
19. Being accountable or being able to justify an action
primary factors of market segmentation
distribution channels
Import
responsibility
20. An action is morally correct - when - among the people it affects...
it produces the greatest amount of good for the greatest number
accrual basis
stages in the life cycle of a product
price based pricing
21. Manager responsible for supervising the work of employees
Management Information System (MIS)
First-Line Manager
trade promotions
discount pricing
22. Managers and workers cooperating as a team
Management
Democratic Leadership Style
Exchange Rate
Position Influence
23. Somethings needed by a community and provided by its government
Public Goods
maturity stage
market
return on equity ratio
24. 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
opportunity cost
Out-sourcing
cash basis
Monopolistic Competition
25. Physical products purchased by companies to produce other products
Democratic Leadership Style
Industrial Goods
Affirmative Action
laissez-faire Leadership style
26. Postsales reductions in price - must be applied for by the purchaser
Variance
rebates
push strategy
downsizing
27. Is the way in which tasks in an organization are divided into separate jobs. - Also known as division of labor - Assembly line worker.
place utility
direct marketing approach
Organizing
Work Specialization
28. The portion of shareholders' equity earned by the company but not distributed to its owners in the form of dividends
break-even point equation
Contingent Worker
direct marketing
retained earnings
29. Accounting method in which revenue is recorded when payment is received and expense is recorded when cash is paid
skim pricing
Corporate Bond
Monopolistic Competition
cash basis
30. Idea generation - idea screening - business analysis - prototype development - test marketing - commercialization
equity financing
stages of product development
Democratic Leadership Style
Expert Influence
31. Employee who detects and tries to put an end to a company's unethical - illegal - or socially irresponsible actions by publicizing them
line organization
Whistle Blower
functional strategies
growth strategies
32. Owner of shares of stock in a corporation
Leading
Stockholder (or Shareholder)
break-even point equation
Outsourcing
33. Building a specific and unique product to meet the needs of one consumer
quality control circles
Custom Manufacturing
Standard of Living
equity financing
34. Selling or supporting the sales process over the telephone
telemarketing
organizational market
Wholesaler
productivity - the success of the managers - and the morale of the other employees
35. Good or service used as the basis of commerce
product
trade promotions
advertising
cost of goods sold equation
36. Categorization of customers according to their relationship with products or response to product characteristics
Globalization
Privatization
behavioral segmentation
time utility
37. Acquiring funds through borrowing
debt financing
permission marketing
liquidity ratios
rebates
38. Favoritism shown to relatives or close friends by those in power (as by giving them jobs)
negative reinforcement
Nepotism
return on equity ratio
Procedure
39. Reporting relationships within a company
brand mark
need
Chain of Command
Wholesaler
40. Introductory stage - growth stage - maturity stage - decline stage
product life cycle
Workplace Diversity
Short-range or operational planning
stages in the life cycle of a product
41. Direct communication other than personal sales contacts designed to effect a measurable response
Limited Liability
Philosophy
general expenses
direct marketing
42. Market structure that does not meet all conditions of perfect competition - three catagories: monopolistic - oligopoly & monopoly
Organizational Structure
persuasive advertising
personal sales approach
Imperfect Competition
43. Partner who actively manages a firm and who has unlimited liability for its debts
Prosperity
General (Active) Partner
organizational market
Organizational Stakeholders
44. Market or industry characterized by numerous small firms producing an identical product
Controlling
Perfect competition
Authority
marketable securities
45. Set of organizational activities directed at attracting - developing - and maintaining an effective workforce
owner's equity equation
Human Resource Management (HRM)
Telemarketing
Decision Making
46. Deliver quality products - and provide effective customer service; keeps customers satisfied and helps retain long-term loyalty
Audit
Capitalism
Board of Directors
why companies learn about customers so they can stay in touch with their current needs and wants
47. A business that is involvec with moving goods from producers to consumers
time utility
sales promotion
break-even point
Marketer
48. The benefit lost from the next best alternative; what you have to give up - to get what you want or need the most
Capitalism
common pricing strategies
opportunity cost
Limited Partnership
49. Ratios that measure the overall financial performance of a firm- include return on sales - return on investment - and earnings per share
profitability ratios
Business Ethics
Market
Organizing
50. Media: mail - telephone - internet - audience: target potential buyers - intensity: passive - purpose: persuade
personal sales approach
Closely Held (or Private) Corporation
direct marketing approach
assets equation