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. Division of a diverse market into smaller - relatively homogeneous groups with similar needs - wants - and purchase behaviors
market segmentation
net income
Franchise
Goods Operations (Goods Production)
2. Hybrid of a closely held corporation and a partnership - organized and operated like a corporation but treated as a partnership for tax purposes
break-even analysis
liabilities
S Corporation
Short-range or operational planning
3. Roles of shareholders - directors - and other managers in corporate decision making and accountability
marketable securities
time utility
private brands
Corporate Governance
4. The value that a company has built up in a brand
Joint Venture
brand equity
stages in the life cycle of a product
financial management
5. Beliefs about what is right or wrong and good or bad in actions that affect others
depreciation
responsibilities of a financial manager
Ethics
trade promotions
6. Ratios that measure the overall financial performance of a firm- include return on sales - return on investment - and earnings per share
profitability ratios
fixed costs
line organization
Market economy
7. An action is morally correct - when - among the people it affects...
Labor Productivity
current assets
it produces the greatest amount of good for the greatest number
balance sheet
8. People are internally motivated
limitations of marketing research
theory y
cost of goods sold equation
schematic of marketing process
9. Provides protection for the product - makes products easier to display - and attracts attention
Export
credit
Sole Proprietership
function of packaging
10. A measure of the sensitivity of demand to changes in price
price elasticity
Quality Control
time utility
national brands
11. Break-even point = fixed costs/ (selling price - variable costs per unit)
mission statement
break-even point equation
liabilities
marketing mix
12. Idea generation - idea screening - business analysis - prototype development - test marketing - commercialization
inventory turnover ratio
Gross National Product (GNP)
management by objectives (MBO)
stages of product development
13. Market or industry characterized by numerous small firms producing an identical product
Intellectual Property
Perfect competition
private brands
telemarketing
14. Internal descriptors such as attitudes - interests - values - behaviors - and habits
Market
Long-range or strategic planning
psychographics
return on investment
15. Form - time - place - possession
types of utility
equity financing
activity ratios
Prosperity
16. Deliver quality products - and provide effective customer service; keeps customers satisfied and helps retain long-term loyalty
why companies learn about customers so they can stay in touch with their current needs and wants
direct marketing
trade promotions
break-even point equation
17. When a task is too time consuming for a manager to handle alone - he or she may ____.
pull strategy
decline stage
Manufacturer
delegate the task
18. Economic system that allows individuals to pursue their own interests without undue governmental restriction
Private enterprise
behavioral segmentation
Physical Distribution
personal selling
19. Statement of a firm's cash receipts and cash payments that presents information on its sources and uses of cash
statement of cash flows
inside board members
persuasive advertising
function of labels
20. 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
Management
permission-based marketing
direct mail
Ethical Behavior
21. 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
22. Business that is legally considered an entity separate from its owners and is liable for its own debts; owners' liabilities extend to the limits of their investments
working capital
Private enterprise
decline stage
Corporation
23. Payments other than wages or salaries - other benefits
Unethical Behavior
return on equity ratio
behavioral segmentation
fringe benefit
24. Form of nonstore retailing in which the telephone is used to sell directly to consumers
Retailer
online display advertising
Telemarketing
Insider Trading
25. Strategies a company can adopt in order to grow: concentration - backward and forward integration - and related and unrelated diversification
product line
Flat Organizational Structure
growth strategies
Inflation
26. Organization's methods for dealing with emergencies
Bankruptcy
Quid Pro Quo Harassment
grand strategies
Crisis Management
27. A ____ is an agreement between two parties to carry out a transaction - such as the sale of goods from a seller to buyer.
break-even analysis
Strategic Alliance
Specialty Good/Specialty Service
contract
28. Behavior that does not conform to generally accepted social norms concerning beneficial and harmful actions
customer service
Recession
Unethical Behavior
Top Manager
29. Measure of the time a company takes to turn its inventory into sales - calculated by divided cost of goods sold by the average value of inventory for a period
Goals
Board of Directors
inventory turnover ratio
Divestiture
30. This law guards against false advertising.
Long-range or strategic planning
personal selling
Wheeler-Lea Act of 1938
Mass Production
31. Unwelcome sexual advances in the workplace
Long-Term Goal
Sexual Harassment
Goals
product life cycle
32. Under the Americans with Disabilities Act - companies cannot fire or refuse to hire people because of...
accounting equation
Labor Productivity
Copyright
certain disabilities and illnesses
33. Ethical or unethical behaviors by employees in the context of their jobs
pull strategy
owner's equity
Business Ethics
Universal Product Codes
34. Industry in which one company can most efficiently supply all needed goods or services
Position Influence
Operations (Production) Management
Natural monopoly
Price Fixing
35. Activities producing intangible and tangible products - such as entertainment - transportation - and education
Service Operations (Service Production)
Statutory Law
Corporate Bond
Quality Control
36. Media: mail - telephone - internet - audience: target potential buyers - intensity: passive - purpose: persuade
Mass Production
direct marketing approach
a continuous-flow operating system
revenues
37. Market structure that does not meet all conditions of perfect competition - three catagories: monopolistic - oligopoly & monopoly
Imperfect Competition
Intellectual Property
accounting equation
Market economy
38. The creation and sharing of product-related information among customers and potential customers
types of financial ratios
objectives
double-entry bookkeeping
social commerce
39. Strategy whereby a firm sells one or more of its business units
inside board members
Divestiture
Short-Term Goal
owner's equity
40. A short - specific written statement of the reason a business exists and what it wants to achieve.
Goods Operations (Goods Production)
quality control circles
mission statement
responsibility
41. Process through which a manager allocates work to subordinates
sales promotion approach
generic products
primary factors of market segmentation
Delegation
42. The phase in which unemployment begins to decrease. demand for goods and services increase - and GDP begins to rise
Manufacturer
Recovery
demographics
function of labels
43. A firm's portion of the total sales in a market
Chain of Command
general expenses
premiums
market share
44. Complete list of all products that a company offers for sale
product mix
behavioral segmentation
Physical Distribution
Natural monopoly
45. Law made by the authority of administrative agencies
Whistle Blower
Regulatory (Administrative) Law
introductory stage
Procedure
46. Non-fluctuating rate that banks use to offer short-term loans of high dollar amounts made up of several interest rates
Policy
Business (or Competitive) Strategy
Prime Rate
exchange process
47. Power of a good or services to satisfy a human need
utility
demographics
form utility
Limited Partnership
48. Advertising that tries to sell specific goods or services - generally by describing features - benefits - and occasionally - price
fringe benefit
brand names
product advertising
Monopolistic competition
49. Use a brand name on a variety of related products
Outsourcing
current ratio
co-branding
family branding
50. The level of joblessness among people actively seeking work in an economic system
financial control
Unemployment
news release
Officers