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






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






3. Process by which the world is becoming a single interdependent system






4. The portion of shareholders' equity earned by the company but not distributed to its owners in the form of dividends






5. Obligations that must be next within a year






6. This law guards against false advertising.






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






8. 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






9. A forecast of financial requirements and the financing sources to be used






10. Organization for economic - social - and security cooperation among European nations






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






12. Brand awareness - brand preference - brand insistence






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






14. Once the desired price has been established - the firm focuses its energies on keeping costs at a level that will allow a healthy profit






15. Expensive - rarely purchased good or service






16. 1. 5 C's (customer - company - competitors - collaborators - context) 2. market segmentation - selection of target market - product/service positioning 3. product attributes - pricing parts - promotion - placement 4. recruit customer - reta






17. Delegating more power to employees






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






19. Obligation employees have to their manager for the successful completion of an assigned task






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






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






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






23. The process of examining an organization's current marketing situation - assessing opportunities and setting objectives - then developing a marketing strategy to reach those objectives






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






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






26. Motivator and hygiene factors need to be met to prevent dissatisfaction

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27. Study of statistical characteristics of a population






28. Hybrid of a closely held corporation and a partnership - organized and operated like a corporation but treated as a partnership for tax purposes






29. A focus on developing and maintaining long-term relationships with customers - suppliers - and distribution partners for mutual benefit






30. Where products are conveniently placed for customers






31. The way a manager teats and directs employees






32. 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






33. Act of obtaining a desired object or services from another party by offering something of value in return






34. Partner who actively manages a firm and who has unlimited liability for its debts






35. Product development stage in which a product is sold on a limited basis - a trial introduction






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






37. Using promotion - product - distribution - and price to differentiate a good or service from those of competitors in the mind of the prospective buyer






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






39. A name - term - sign - symbol - design or combination of those used to identify the products of a firm and competing products






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






41. The ability to get others to accoplish tasks because of the position the leader holds






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






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






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






45. Physical products purchased by consumers for personal use






46. Form of a corporation spanning national boundaries






47. Changing jobs or tasks from time to time






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






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






50. Alternative plans to be implemented if uncontrollable event occur