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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. Cash and items that can be turned into cash within one year






2. The creation and sharing of product-related information among customers and potential customers






3. Product made or grown abroad but sold domestically






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






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






6. Form of nonstore retailing in which the telephone is used to sell directly to consumers






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






8. Idea generation - idea screening - business analysis - prototype development - test marketing - commercialization






9. Method of combining geographical data with demographic data to develop profiles of neighborhood segments






10. A short - specific written statement of the reason a business exists and what it wants to achieve.






11. Paid - nonpersonal communication to a target market from an identified sponsor using mass communications channels






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






13. The price of your nation's currency is in terms of another nation's currency






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






15. Obligations that must be next within a year






16. Very few large firms dominate the market such as coke - pepsi - GM - McDonalds






17. From of sexual harassment deriving from off-color jokes - lewd comments - and so forth






18. Introducing a new product at a low price in hopes of building sales volume quickly






19. Corporation whose stock is widely held and available for sale to the general public






20. The process of analyzing and adjusting the basic financial plan to correct for forecasted events that do not materialize






21. Takes the extractor's products or raw materials and changs the into a form that consumers can use






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






23. Filling caps in the market - extending the line to include new varieties of existing products - extending the brand to new product categories - and stretching the lien to include lower or higher priced items






24. Gross domestic product (GDP) adjusted to account for changes in currency values and price changes






25. Location






26. Direct communication other than personal sales contacts designed to effect a measurable response






27. Cost of producing or acquiring a company's products for sale during a given period






28. Products characterized by a plain label - with no advertising and no brand name






29. Multiple year; compares two ratios in company's financial statements; sales - sales returns/allowance - net sales - gross marginal






30. The four key elements of marketing strategy: product - price - distribution - and promotion






31. Accounting method in which revenue is recorded when a sale is made and expense is recorded when it is incurred






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






33. The value that a company has built up in a brand






34. All the operating expenses associated with marketing goods or services






35. Intermediary who sells products directly to consumers






36. Measure of profitability calculated by divided net income after taxes by the average number of shares of common stock outstanding






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






38. A series of related products offered by a firm






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






40. Managers and workers cooperating as a team






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






42. The union of two corporations to form a new corporation






43. The creation and sharing of product-related information among customers and potential customers






44. Nonsales communication that businesses have with their various audiences






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






46. Exchange of value between parties






47. People are lazy






48. Process of dealing with employees who are represented by a union






49. Markets focus on increasing the product's market share






50. Sales promotion aimed at final consumers







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Can you answer 50 questions in 15 minutes?


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