Test your basic knowledge |

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. Strategu for determining a firm's overall attitude toward growth and the way it will manage its business or product lines






2. Exchange of value between parties






3. The company founder is no longer solely responsible for all decision making during the ____.






4. Using promotion - product - distribution - and price to differentiate a good or service from those of competitors in the mind of the prospective buyer






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






6. Operating expenses - such as office and administrative expenses - not directly associated with creating or marketing a good or a service






7. The phase in which unemployment begins to decrease. demand for goods and services increase - and GDP begins to rise






8. Something produced by the intellect or mind that has commercial value






9. Customer value added by making a product available in a convenient location






10. Amount earned from sales of goods or services and inflow from miscellaneous sources such as interest - rent - and royalties






11. Continually adjusting prices to reflect changes in supply and demand






12. 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






13. Selling one product at a loss as a way to entice customers to consider other products






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






15. Overall plan for marketing a product: includes the identification of target market segments - a positioning strategy - and a marketing mix






16. Behavior exhibited by consumers as they consider - select - and purchase goods and services






17. Media: news release; audience: broad - intensity: passive - active; purpose: inform






18. When the seller doesn't set a firm price but allows buyers to competitively bid on the products being sold






19. Planning and control tool that reflects expected revenues - operating expenses - and cash receipts and outlays






20. Management process of determining how to best arrange an organization's resources and activities into a coherent structure






21. Efforts a company makes to satisfy its customers to help them realize the greatest possible value from the products they are purchasing






22. Organization's methods for dealing with emergencies






23. 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






24. Making decisions without consulting anyone






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






26. Transferring work to another country






27. Systematic direction and control of the processes that transform resources into finished products that create value for and provide benefits to customers






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






29. A name - term - sign - symbol - design or combination of those used to identify the products of a firm and competing products






30. Behavior conforming to generally accepted social norms concerning beneficial and harmful actions






31. The various appliances and devices for creating - storing - exchanging - and using information in diverse modes - including visual images - voice - multimedia - and business data






32. Portion of a brand that cannot be expressed verbally






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






34. Power of a good or services to satisfy a human need






35. Loss of brand identity and the cannibalization of sales of other products in the product line






36. Process through which a manager allocates work to subordinates






37. Confusion results if a person reports to two people at once - according to ____.






38. Diagram depicting a company's structure and showing employees where they fit into its operations






39. Larger visual and multimedia ads that appear on websites






40. Refers to policies that take factors including 'race - color - religion - gender - sexual orientation or national origin' into consideration in order to benefit an underrepresented group - usually as a means to counter the effects of a history o






41. Short-term credit or debt amounts that a company owes its suppliers: the company's "bills" in other words






42. Manager responsible for a firm's overall performance and effectiveness






43. A sustained increase in the general level of prices






44. Motivator and hygiene factors need to be met to prevent dissatisfaction

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


45. Vying among businesses for the same resources or customers






46. Mechanism for exchange between buyers and sellers of a particular good or service






47. Strategy by which managers in specific areas decide how best to achieve corporate goals through productivity






48. 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






49. Hybrid of a closely held corporation and a partnership - organized and operated like a corporation but treated as a partnership for tax purposes






50. Costs created in the process of generating revenues






Can you answer 50 questions in 15 minutes?



Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests