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. Making a product available at a convenient time






2. Stems from personal trust and respect members have for the leader






3. Media: mail - telephone - internet - audience: target potential buyers - intensity: passive - purpose: persuade






4. Identification and marketing of a social issues - cause - or idea to selected target markets






5. Occurs when two companies form one corporation






6. Current assets minus current liabilities






7. Compensation other than wages and salaries






8. Media: networks - audience: potential buyers - intensity: passive/active - purpose: inform - persuade - remind






9. Transferring work to another country






10. One seller of a product - denies people competition and is against the law (They can typically raise prices)






11. Form of a corporation spanning national boundaries






12. Vying among businesses for the same resources or customers






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






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






15. Choosing one alternative from among several options






16. Something produced by the intellect or mind that has commercial value






17. Senior company managers who serve on the company's board of directors are known as ____.






18. When a task is too time consuming for a manager to handle alone - he or she may ____.






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






20. Diagram depicting a company's structure and showing employees where they fit into its operations






21. Internal descriptors such as attitudes - interests - values - behaviors - and habits






22. Characteristic of centralized companies with multiple layers of management






23. Postsales reductions in price - must be applied for by the purchaser






24. This level of management includes department heads and district sales managers.






25. Media: discounts - coupons - rebates; audience: targeted; intensity: passive; purpose: persuade






26. In a ____ authority originates at the top and moves downward in a line.






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






28. The willingness and ability of buyers to purchase a good or service






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






30. Intermediary who sells products directly to consumers






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






32. Total value of all goods and services produced within a given period by a national economy through domestic factors of production






33. Promotional strategy that stimulates consumer demand - which then exerts pressure on wholesalers and retailers to carry a product






34. Changing jobs or tasks from time to time






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






36. Any 12 consecutive months used as an accounting period






37. 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






38. Brands that have been given legal protection so that their owners have exclusive rights to their use






39. Amounts that are currently due to a company






40. Approach to business management that stresses customer needs and wants - seeks long-term profitability - and integrates marketing with other functional units within the organization






41. By studying consumer buying behavior - conducting market research - and capturing and analyzing consumer data






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






43. Offering several products for a single price that is presumably lower than the total of the products' individual prices






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






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






46. Beliefs about what is right or wrong and good or bad in actions that affect others






47. Stocks - bonds - and other investments that can be turned into cash quickly






48. The collection and analysis of information for making marketing decisions






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






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