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. 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






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






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






4. Are a more complex form of organizational design that tries to take advantage of two types of structures at the same time. - The matrix represents a combination of a functional structure and a product structure.






5. Something that the employee dislikes is taken away






6. This law guards against false advertising.






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






8. Portion of a brand that cannot be expressed verbally






9. Offering a temporary reduction in price






10. Customer value created when someone takes ownership of a product






11. Effective acquisition and use of money






12. Products having nonphysical features - such as information - expertise - or an activity that can be purchased






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






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






15. Making decisions without consulting anyone






16. Pricing selling one product at a loss as a way to entice customers to consider other products






17. Group of small investors who invest money in companies with rapid growth potential






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






19. Planning and control tool that reflects expected revenues - operating expenses - and cash receipts and outlays






20. 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






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






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






23. Arises when group members recognize that the leader has special expertise in the area






24. Specific goods - services - experiences - or other entities that are desirable in light of a person's experiences - culture - and personality






25. The way you live as measure by the kinds and quality of goods and services you can afford






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






27. Sales promotion aimed at final consumers






28. Form of sexual harassment in which sexual favors are requested in return for job-related benefits






29. Business with two or more owners who share in both the operation of the firm and the financial responsibility for its debts






30. Continually adjusting prices to reflect changes in supply and demand






31. Measure how well a company is managing assets; two types inventory turnover and accounts receivable turnover






32. Form of a corporation spanning national boundaries






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






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






35. A business that is involvec with moving goods from producers to consumers






36. Marketers try to extend the life of the product by highlighting improvements or by repackaging the product in different sizes






37. Large-scale production and distribution of a product






38. A form of collusion - agree to charge the same prices - usually higher than the price set by competition






39. Location






40. The combined use of tactical and strategic management






41. A phase marked by a prolonged period of high unemployment - weak sales of goods and services - and business failure






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






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






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






45. Economic system that allows individuals to pursue their own interests without undue governmental restriction






46. Type of partnership consisting of limited partners and a general (or active) partner






47. Characteristic of decentralized companies with relatively few layers of management






48. Expensive - rarely purchased good or service






49. Informal work groups can affect ____.






50. 12 month accounting period that begins on January 1 and ends on December 31