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. Expensive - rarely purchased good or service
Specialty Good/Specialty Service
Long-Term Goal
selling expenses
Audit
2. Break-even point = fixed costs/ (selling price - variable costs per unit)
break-even point equation
European Union (EU)
Workplace Diversity
Functional Strategy
3. A period during which aggregate output - as measured by GDP - declines
Affirmative Action
Recession
quality control circles
auction pricing
4. Measure how well a company is managing assets; two types inventory turnover and accounts receivable turnover
current ratio
net income
Sarbanes-Oxley Act of 2002 (Sarbox)
activity ratios
5. The union of two corporations to form a new corporation
Merger
Reward Influence
Corporation
Prosperity
6. The collection and analysis of information for making marketing decisions
function of packaging
media
institutional advertising
marketing research
7. Advertising designed to encourage customers to try new products or to switch brands
Monopoly
persuasive advertising
media
Theory Z
8. One seller of a product - denies people competition and is against the law (They can typically raise prices)
categories of customer communication
Monopoly
Decentralized Organization
Extractor
9. Managers who develop and implement a complete strategy and marketing program for specific products or brands
Strategy
brand managers
grand strategies
Goods Operations (Goods Production)
10. Behavior that does not conform to generally accepted social norms concerning beneficial and harmful actions
Unemployment
behavioral segmentation
Unethical Behavior
owner's equity equation
11. By making changes in policies or resolving conflicts in the workplace - a manager is working within his or her ____.
it produces the greatest amount of good for the greatest number
telemarketing
assets
decision-making role
12. Within an organization essentially answers the question 'Who reports to whom?' - Specific flow of authority down through the levels of an organization's structure.
Chain of Command
Identity Influence
Quality Control
steps in the strategic marketing planning process
13. Introductory stage - growth stage - maturity stage - decline stage
Monopolistic competition
Controlling
stages in the life cycle of a product
European Union (EU)
14. Strategy whereby a firm sells one or more of its business units
liquidity ratios
financial control
opportunity cost
Divestiture
15. Diagram depicting a company's structure and showing employees where they fit into its operations
Multinational (or Transnational) Corporation
empowerment
personal selling
Organization Chart
16. Unwelcome sexual advances in the workplace
Reward Influence
Convenience Good/Convenience Service
institutional advertising
Sexual Harassment
17. A business firm that does things for you instead of making or makerting products
Outcome-based ethics
earnings per share
Tall Organizational Structure
Service Business
18. A measure of the sensitivity of demand to changes in price
price elasticity
Strategic Alliance
methods of finance for an expanding business
Middle Manager
19. Can't have higher level - or class without the lower level; physiological needs - safety needs - feeling of love and belonging - esteem needs - self-actualization
Warning
: Invalid argument supplied for foreach() in
/var/www/html/basicversity.com/show_quiz.php
on line
183
20. The way you live as measure by the kinds and quality of goods and services you can afford
brand mark
Prosperity
Chain of Command
Standard of Living
21. Process of planning and executing the conception - pricing - promotion - and distribution of ideas - goods - and services to create and maintain relationships
profitability ratios
marketing
Mixed Management
cost of goods sold equation
22. The degree to which customers continue to purchase a specific brand
Purpose of Strategic Planning
national brands
Price Fixing
brand loyalty
23. Strategies a company can adopt in order to grow: concentration - backward and forward integration - and related and unrelated diversification
growth strategies
corporate strategies
return on equity ratio
types of financial ratios
24. Categorization of customers according to their geographical location
Service Business
geographic segmentation
laissez-faire Leadership style
Out-sourcing
25. Overall plan for marketing a product: includes the identification of target market segments - a positioning strategy - and a marketing mix
marketing strategy
Leadership Style
Labor Union
Environmental Analysis
26. Roles of shareholders - directors - and other managers in corporate decision making and accountability
generic products
Service Business
Franchise
Corporate Governance
27. The total quantity and quality of goods and services people can purchase with the currency used in their economic system
Centralized Organization
grand strategies
Standard of living
return on equity ratio
28. Obligations that fall due more than a year from the date of the balance sheet - Loans - leases - and bonds
long-term liabilities
Industrial Goods
Custom Manufacturing
Decision Making
29. When a task is too time consuming for a manager to handle alone - he or she may ____.
General Partnership
credit
5 C's
delegate the task
30. Wide variety of persuasive techniques used by companies to communicate with their target markets and the general public
Depression
long-term liabilities
promotion
persuasive advertising
31. Costs created in the process of generating revenues
expenses
liabilities
break-even point equation
Organizing
32. Ratios that measure a firm's ability to meet its short-term obligations when they are due - judged on the basis of working capital - current ratio - and quick ratio
liquidity ratios
advertising approach
Gross Domestic Product (GDP)
ratio analysis
33. Authority granted to committees or teams involved in a firm's daily operations
co-branding
Committee and Team Authority
form utility
marketing mix
34. Brands that carry the label of a retailer or a wholesaler rather than a manufacturer
current liabilities
private brands
Business Plan
Tall Organizational Structure
35. Media: networks - audience: potential buyers - intensity: passive/active - purpose: inform - persuade - remind
social media approach
financial plan
management by objectives (MBO)
Monopolistic competition
36. Non-fluctuating rate that banks use to offer short-term loans of high dollar amounts made up of several interest rates
3 Economic Role
product line
General Partnership
Prime Rate
37. Type of partnership consisting of limited partners and a general (or active) partner
Limited Partnership
schematic of marketing process
skim pricing
Labor Relations
38. Activities needed to move a product efficiently from manufacturer to consumer
direct marketing approach
Limited Partnership
Accountability
Physical Distribution
39. Promotional campaigns that send information only to those people who've specifically asked to receive it
permission marketing
operating expenses
close the books
cash basis
40. Good or service used as the basis of commerce
exchange process
market segmentation
product
capital budgeting
41. Manager responsible for implementing the strategies and working toward the goals set by top managers
debt-to-total-assets ratio
stealth marketing
Middle Manager
Recession
42. Obtain goods they cannot produce - reflect comparative advantage - and create jobs
Three reasons nations trade
premiums
Workplace Diversity
market segmentation
43. Strategies that deal with the most important aspects of the company's operations and provide overall direction for the company are known as ____.
corporate strategies
how companies learn about customer
job rotation
Leadership
44. The creation and sharing of product-related information among customers and potential customers
Publicly Held (or Public) Corporation
accrual basis
Corporation
social commerce
45. The phase in which unemployment begins to decrease. demand for goods and services increase - and GDP begins to rise
Ethical Behavior
price based pricing
Recovery
pull strategy
46. This law guards against false advertising.
Limited Partnership
Wheeler-Lea Act of 1938
budget
auction
47. Use of quantitative measures to evaluate a firm's financial performance - compares two elements from the same year's financial figures; computed by divided one element of a financial statement by another
Regulatory (Administrative) Law
Position Influence
growth stage
ratio analysis
48. Informal communication between customers and potential customers
factors that influence pricing decisions
national brands
word of mouth
Real GDP
49. Document in which an entrepreneur summarizes his or her business strategy for a proposed new venture and how that strategy will be implemented
assume that all workers are content with their work
forecasting
time utility
Business Plan
50. Bar codes on product packages that provide information read by optical scanners
categories of customer communication
net income
Universal Product Codes
growth strategies