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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. Portion of a brand that cannot be expressed verbally
permission-based marketing
marketing research
capital investments
brand mark
2. Start with the cost of producing a good or a service and then add a markup to the cost of the product to produce a product
Sexual Harassment
cost based pricing
revenues
advertising approach
3. Organization through which member nations negotiate trading agreements and resolve disputes about trade policies and practices
loss-leader
Centralized Organization
customer buying behavior
World Trade Organization (WTO)
4. Selling method in which the price is set by customers bidding against each other
Affirmative Action
profitability ratios
Short-Term Goal
auction
5. Process through which a manager allocates work to subordinates
break-even point equation
Delegation
Safety
Autocratic Leadership style
6. Manager responsible for implementing the strategies and working toward the goals set by top managers
middle management
stages in the life cycle of a product
fixed costs
Middle Manager
7. Efforts a company makes to satisfy its customers to help them realize the greatest possible value from the products they are purchasing
customer service
Capitalism
persuasive advertising
assets
8. Obtain goods they cannot produce - reflect comparative advantage - and create jobs
institutional advertising
Contingent Worker
Business Cycle
Three reasons nations trade
9. Something produced by the intellect or mind that has commercial value
product line
Intellectual Property
cost of goods sold equation
Flat Organizational Structure
10. Governing body of a corporation that reports to its shareholders and delegates power to run its day-to-day operations while remaining responsible for sustaining its assets
marketing
geographics
communication mix
Board of Directors
11. Ratios that measure the overall financial performance of a firm- include return on sales - return on investment - and earnings per share
financial management
profitability ratios
Limited Partnership
merger
12. Ratio between net income after taxes and net sales; also known as profit margin
product advertising
quick ratio
return on sales
Unemployment
13. A sustained increase in the general level of prices
geographic segmentation
Corporate Bond
Inflation
profitability ratios
14. The creation and sharing of product-related information among customers and potential customers
Business Ethics
common pricing strategies
Sexual Harassment
social commerce
15. Offering several products for a single price that is presumably lower than the total of the products' individual prices
bundling
Organizational Stakeholders
benchmarking
management by objectives (MBO)
16. A formal pledge obligating the issuer (the company) to pay interest periodically and repay the principal at maturity
Corporate Bond
marketing concept
empowerment
strategic marketing planning
17. From of sexual harassment deriving from off-color jokes - lewd comments - and so forth
Flat Organizational Structure
Information Technology (IT)
price based pricing
Hostile Work Environment
18. Utilitarianism: outcome oriented - focuses on the consequences of an action - not on the nature of the action itself or on any set of preestablished moral values or religious beliefs.
transaction
Decision Making
Outcome-based ethics
Herzberg's two-factor theory
19. Mechanism for exchange between buyers and sellers of a particular good or service
Decision Making
debt-to-equity ratio
Market
Perfect competition
20. Process of subdividing a market into homogeneous groups to identify potential customers and to devise marketing approaches geared to their needs and interests
market segmentation
Copyright
Work Specialization
possession utility
21. A series of related products offered by a firm
brand equity
general expenses
categories of customer communication
product line
22. Degree to which customers continue to buy from a particular retailer or buy the products of a particular manufacturer or service provider
Organizational Stakeholders
customer loyalty
advertising approach
Statutory Law
23. The phase in which unemployment begins to decrease. demand for goods and services increase - and GDP begins to rise
auction pricing
relationship marketing
Accountability
Recovery
24. Document in which an entrepreneur summarizes his or her business strategy for a proposed new venture and how that strategy will be implemented
Import
Demand
job rotation
Business Plan
25. Demographics - psychographics - and geographics
demographics
Collusion
Pure Competition
primary factors of market segmentation
26. 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
loss-leader
permission-based marketing
debt financing
Laws
27. The process of comparing an organization's products or services and processes with those of another companies
Benefits
Contingent Worker
benchmarking
sales promotion
28. Discount offered by producers to wholesalers and retailers
Export
grand strategies
trade allowance
consumer market
29. Marketing efforts to attract people and organizations to a particular geographical area
place marketing
Procedure
Joint Venture
theory x
30. Acquiring funds through borrowing
database marketing
elements of a company's marketing mix
debt financing
steps in the strategic marketing planning process
31. A Theory Y manager is most likely to ____.
Prosperity
Variance
marketable securities
assume that all workers are content with their work
32. Behavior exhibited by consumers as they consider - select - and purchase goods and services
Socialism
General Partnership
possession utility
customer buying behavior
33. The collection and analysis of information for making marketing decisions
marketing research
Acquisition
Business (or Competitive) Strategy
form utility
34. A focus on developing and maintaining long-term relationships with customers - suppliers - and distribution partners for mutual benefit
relationship marketing
job rotation
market
accounts receivable
35. Changes the form of material so they can be consumed or used to manufacture other products
Processing
Certificate of Incorporation
accounts payable
discount pricing
36. Worker - consumer - citizen Consumers vote in favor of goods and services; Worker productivity is important for a nations advancement; Citizens join with other citizens in making some economical decision for the good of the community
debt ratios
Affirmative Action
3 Economic Role
generic products
37. Assets = liabilities + owner's equity
General Partnership
point-of-purchase display
balance sheet
accounting equation
38. Ethical or unethical behaviors by employees in the context of their jobs
Business Ethics
Benefits
Policy
Recession
39. 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
growth strategies
Goals
accounts receivable turnover ratio
liquidity ratios
40. Strategic alliance in which the collaboration involves joint ownership of the new venture
Common Law
Joint Venture
decline stage
brand
41. The various appliances and devices for creating - storing - exchanging - and using information in diverse modes - including visual images - voice - multimedia - and business data
Socialism
Information Technology (IT)
psychographics
Reward Influence
42. Legal principal holding investors liable for a firm's debts only to the limits of their personal investments in it
balance sheet
Limited Liability
consumer promotion
Oligopoly
43. Senior company managers who serve on the company's board of directors are known as ____.
Recession
place utility
inside board members
Specialty Good/Specialty Service
44. Approach to business management that stresses customer needs and wants - seeks long-term profitability - and integrates marketing with other functional units within the organization
Collusion
Processing
Inflation
marketing concept
45. Private funds - partners/shareholders - bank loans - asset leasing and hire purchase - venture capital/business angels - merger capital - retained profits
methods of finance for an expanding business
Unlimited Liability
responsibilities of a financial manager
Matrix Structures
46. Behavior conforming to generally accepted social norms concerning beneficial and harmful actions
productivity - the success of the managers - and the morale of the other employees
Organization Chart
Ethical Behavior
Recession
47. Any 12 consecutive months used as an accounting period
Gross National Product (GNP)
search advertising
strategic marketing planning
fiscal year
48. Being accountable or being able to justify an action
Business Cycle
negative reinforcement
form utility
responsibility
49. Rewarded for good performance; something the employee likes is praised
social commerce
behavioral segmentation
positive reinforcement
Limited Liability
50. Confusion results if a person reports to two people at once - according to ____.
fringe benefit
telemarketing
discount pricing
unity of command