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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. Making a product available at a convenient time
psychographics
Monopolistic competition
brand extension
time utility
2. Stems from personal trust and respect members have for the leader
Identity Influence
Whistle Blower
skim pricing
Decision-Making Skills
3. Media: mail - telephone - internet - audience: target potential buyers - intensity: passive - purpose: persuade
direct marketing approach
Accountability
psychographics
credit
4. Identification and marketing of a social issues - cause - or idea to selected target markets
Pure Competition
cause-related marketing
Matrix Structures
current assets
5. Occurs when two companies form one corporation
Hostile Work Environment
brand loyalty
Maslow's hierarchy of needs
merger
6. Current assets minus current liabilities
working capital
price
demographics
authority
7. Compensation other than wages and salaries
Benefits
Leadership Style
theory y
promotional strategy
8. Media: networks - audience: potential buyers - intensity: passive/active - purpose: inform - persuade - remind
transaction
Organizing
organization behavior modification
social media approach
9. Transferring work to another country
Out-sourcing
Centralized Organization
Regulatory (Administrative) Law
Unlimited Liability
10. One seller of a product - denies people competition and is against the law (They can typically raise prices)
merger
Span of Control
debt-to-total-assets ratio
Monopoly
11. Form of a corporation spanning national boundaries
place utility
consumer market
Leadership Style
Multinational (or Transnational) Corporation
12. Vying among businesses for the same resources or customers
Competition
Export
Multinational (or Transnational) Corporation
assume that all workers are content with their work
13. Management theory incorporating Japanese emphasis on collective decision making and concern for employees with American emphasis on individual responsibility is ____.
Maslow's hierarchy of needs
Theory Z
commercialization
Organizational Structure
14. A group of customer who need or want a particular product and have the money to buy it
market
geodemographics
Demand
break-even point
15. Choosing one alternative from among several options
Unethical Behavior
Deregulation
commercialization
Decision Making
16. Something produced by the intellect or mind that has commercial value
European Union (EU)
Strategic Alliance
Service Business
Intellectual Property
17. Senior company managers who serve on the company's board of directors are known as ____.
European Union (EU)
inside board members
national brands
SWOT analysis
18. When a task is too time consuming for a manager to handle alone - he or she may ____.
delegate the task
Marketer
Sole Proprietership
primary factors of market segmentation
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
Limited Partnership
strategic marketing planning
financial management
personal selling
20. Diagram depicting a company's structure and showing employees where they fit into its operations
downsizing
theory x
Organization Chart
limitations of marketing research
21. Internal descriptors such as attitudes - interests - values - behaviors - and habits
psychographics
Small Business Administration (SBA)
objectives
penetration pricing
22. Characteristic of centralized companies with multiple layers of management
Position Influence
Tall Organizational Structure
Purpose of Strategic Planning
Limited Liability
23. Postsales reductions in price - must be applied for by the purchaser
Corporation
decline stage
return on equity ratio
rebates
24. This level of management includes department heads and district sales managers.
earnings per share
return on equity ratio
middle management
Franchise
25. Media: discounts - coupons - rebates; audience: targeted; intensity: passive; purpose: persuade
place utility
sales promotion approach
Common Law
Recession
26. In a ____ authority originates at the top and moves downward in a line.
line organization
Planning
exchange process
Universal Product Codes
27. The process of comparing an organization's products or services and processes with those of another companies
test marketing
benchmarking
Maslow's hierarchy of needs
Collusion
28. The willingness and ability of buyers to purchase a good or service
permission marketing
Demand
Privatization
North American Free Trade Agreement (NAFTA)
29. Court-granted permission for a company to not pay some or all debts
Span of Control
Bankruptcy
search advertising
European Union (EU)
30. Intermediary who sells products directly to consumers
liabilities
growth through direction state
Retailer
Limited Partnership
31. Management process of monotoring an organization's performance to ensure that it is meeting its goals
Leading
Organizational Chart
personal selling
Controlling
32. Total value of all goods and services produced within a given period by a national economy through domestic factors of production
marketing mix
downsizing
a continuous-flow operating system
Gross Domestic Product (GDP)
33. Promotional strategy that stimulates consumer demand - which then exerts pressure on wholesalers and retailers to carry a product
national brands
ratio analysis
long-term liabilities
pull strategy
34. Changing jobs or tasks from time to time
job rotation
primary factors of market segmentation
contract
transaction
35. Economic system that allows individuals to pursue their own interests without undue governmental restriction
Private enterprise
Goals
inside board members
bundling
36. Any 12 consecutive months used as an accounting period
Closely Held (or Private) Corporation
Deregulation
Chief Executive Officer (CEO)
fiscal year
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
responsibilities of a financial manager
trade allowance
marketing research
price based pricing
38. Brands that have been given legal protection so that their owners have exclusive rights to their use
line organization
promotional strategy
trademarks
Natural monopoly
39. Amounts that are currently due to a company
Centralized Organization
demographics
accounts receivable
trademarks
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
North American Free Trade Agreement (NAFTA)
marketing concept
retained earnings
test marketing
41. By studying consumer buying behavior - conducting market research - and capturing and analyzing consumer data
current ratio
Organizing
debt-to-equity ratio
how companies learn about customer
42. Marketing efforts to attract people and organizations to a particular geographical area
liabilities
news conference
place marketing
wants
43. Offering several products for a single price that is presumably lower than the total of the products' individual prices
specialty advertising
Chief Executive Officer (CEO)
bundling
Business (or Competitive) Strategy
44. External statistical descriptors such as age - income - gender - and profession
demographics
cash basis
Position Influence
market segmentation
45. Arises when group members recognize that the leader has special expertise in the area
quick ratio
break-even point equation
Copyright
Expert Influence
46. Beliefs about what is right or wrong and good or bad in actions that affect others
form utility
Copyright
accounts receivable turnover ratio
Ethics
47. Stocks - bonds - and other investments that can be turned into cash quickly
geographic segmentation
transaction
marketable securities
market
48. The collection and analysis of information for making marketing decisions
Strategy
Theory Z
marketing research
Privatization
49. Measure how well a company is managing assets; two types inventory turnover and accounts receivable turnover
contract
customer loyalty
activity ratios
Strategic Management
50. A name - term - sign - symbol - design or combination of those used to identify the products of a firm and competing products
brand
Mass Production
Long-Term Goal
Mission Statement