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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. All costs of operation that are not included under cost of goods sold
earnings per share
Operations (Production) Management
loss-leader pricing
operating expenses
2. 1. 5 C's (customer - company - competitors - collaborators - context) 2. market segmentation - selection of target market - product/service positioning 3. product attributes - pricing parts - promotion - placement 4. recruit customer - reta
quick ratio
schematic of marketing process
theory y
Whistle Blower
3. A name - term - sign - symbol - design or combination of those used to identify the products of a firm and competing products
brand
Standard of Living
General Partnership
market share
4. Internal descriptors such as attitudes - interests - values - behaviors - and habits
family branding
cost based pricing
Recovery
psychographics
5. Division of a diverse market into smaller - relatively homogeneous groups with similar needs - wants - and purchase behaviors
job rotation
market segmentation
Strategic Management
Universal Product Codes
6. Product made or grown domestically but sold abroad
Export
test marketing
contingency plans
Quid Pro Quo Harassment
7. Organization in which a great deal of decision-making authority is delegated to levels of management at points below the top
responsibilities of a financial manager
Chain of Command
fixed assets
Decentralized Organization
8. Customer value created by converting raw materials and other inputs into finished goods and services
return on investment
calendar year
place utility
form utility
9. Provides protection for the product - makes products easier to display - and attracts attention
function of packaging
Patent
theory x
public relations approach
10. A prolonged and deep recession
need
Custom Manufacturing
Price Fixing
Depression
11. Paid - nonpersonal communication to a target market from an identified sponsor using mass communications channels
advertising
license
market share
merger
12. Examining your current marketing situation - assessing your opportunities and setting your objectives - and developing your market strategy
integrated marketing communications
steps in the strategic marketing planning process
Labor Productivity
generic products
13. Acquiring funds through borrowing
point-of-purchase display
debt financing
Laws
forecasting
14. This level of management includes department heads and district sales managers.
Goods Operations (Goods Production)
Limited Partner
variable costs
middle management
15. The principal that exchange rates are set so that the prices of similar products in different countries are about the same
Reward Influence
Outcome-based ethics
Purchasing Power Party
Deregulation
16. profitability - liquidity - activities - and leverage/debt
permission-based marketing
Marketer
rebates
types of financial ratios
17. 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
Position Influence
Board of Directors
Inflation
Authority
18. Physical products purchased by consumers for personal use
horizontal analysis
Consumer Goods
advertising
Flat Organizational Structure
19. Cost of goods sold = beginning inventory + net purchases - ending inventory
telemarketing
cost of goods sold equation
Extension
product mix
20. Organization's statement of how it will achieve its purpose in the environment in which it conducts business
Corporate Bond
time utility
wants
Mission Statement
21. Manager responsible for supervising the work of employees
middle management
Management
First-Line Manager
laissez-faire Leadership style
22. Top manager who is responsible for the overall performance of a corporation
Chief Executive Officer (CEO)
Nepotism
growth through direction state
ways to expand a product line
23. A period during which aggregate output - as measured by GDP - declines
Private enterprise
assets
Variance
Recession
24. Media: discounts - coupons - rebates; audience: targeted; intensity: passive; purpose: persuade
database marketing
Inflation
Autocratic Leadership style
sales promotion approach
25. Somethings needed by a community and provided by its government
close the books
Public Goods
Quality
break-even point
26. Measure of a firm's ability to carry long-term debt - calculated by divided total liabilities by total assets
accounts payable
cost based pricing
trade promotions
debt-to-total-assets ratio
27. Amounts that are currently due to a company
Competition
accounts receivable
capital budgeting
brand managers
28. Brand awareness - brand preference - brand insistence
marketing research
authority
maturity stage
levels of brand loyalty
29. Partner who does not share in a firm's management and is liable for its debts only to the limits of said partner's investment
Limited Partner
Acquisition
Democratic Leadership Style
cost of goods sold
30. Media: news release; audience: broad - intensity: passive - active; purpose: inform
objectives
owner's equity
target markets
public relations approach
31. Advertising sent directly to potential customers - usually through the mail
Hostile Work Environment
Perfect competition
contingency plans
direct mail
32. Gathering of media representatives at which companies announce new information; also called a press conference or press briefing
marketable securities
news conference
Identity Influence
a continuous-flow operating system
33. Mechanism for exchange between buyers and sellers of a particular good or service
Market
widgets
need
Limited Liability Corporation (LLC)
34. Specification of the jobs to be done within an organization and the ways in which they relate to one another
long-term liabilities
psychographics
Organizational Structure
opportunity cost
35. Effective acquisition and use of money
long-term liabilities
S Corporation
Human Resource Management (HRM)
financial management
36. Elimination of rules that restrict business activity
Deregulation
loss-leader
Price Fixing
Marketer
37. Building a specific and unique product to meet the needs of one consumer
Prime Rate
Custom Manufacturing
promotional strategy
depreciation
38. The phase in which unemployment begins to decrease. demand for goods and services increase - and GDP begins to rise
decision-making role
Recovery
promotional strategy
marketing strategy
39. Loss of brand identity and the cannibalization of sales of other products in the product line
Chain of Command
risks of product-line extensions
delegate the task
Decision Making
40. The delivery of marketing messages to people who are not aware that they are being marketing to; these messages can be delivered by either acquaintances or strangers - depending on the technique
place utility
Autocratic Leadership style
line organization
stealth marketing
41. Something produced by the intellect or mind that has commercial value
Recession
Intellectual Property
Import
family branding
42. Flow of information - materials - and services that starts with raw-materials suppliers and continues adding value through other stages in the network of firms until the product reaches that end customer
mission statement
factors that influence pricing decisions
Extension
Supply Chain (Value Chain)
43. 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
cost based pricing
auction pricing
direct marketing
assume that all workers are content with their work
44. Difference between a person's actual state and his or her ideal state; provides the basic motivation to make a purchase
need
Limited Liability Corporation (LLC)
rebates
Globalization
45. Systematic direction and control of the processes that transform resources into finished products that create value for and provide benefits to customers
break-even point equation
marketable securities
limitations of marketing research
Operations (Production) Management
46. Personal communication between a seller and one or more potential buyers
European Union (EU)
Organizational Chart
personal selling
time utility
47. Formal agreement to set prices. Sometimes illegal - but is typically secretive
Contingent Worker
Labor Productivity
Collusion
types of financial ratios
48. The various appliances and devices for creating - storing - exchanging - and using information in diverse modes - including visual images - voice - multimedia - and business data
Information Technology (IT)
time utility
Private enterprise
cost of goods sold equation
49. Document in which an entrepreneur summarizes his or her business strategy for a proposed new venture and how that strategy will be implemented
Business Plan
Standard of living
functional strategies
behavioral segmentation
50. Under the Americans with Disabilities Act - companies cannot fire or refuse to hire people because of...
Quality
certain disabilities and illnesses
Three reasons nations trade
Ethics