SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
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. A business that grows products or takes raw material from nature
Extractor
ratio analysis
introductory stage
Copyright
2. A Theory Y manager is most likely to ____.
responsibility
marketing concept
assume that all workers are content with their work
public relations
3. The process of comparing an organization's products or services and processes with those of another companies
methods of finance for an expanding business
benchmarking
depreciation
why companies learn about customers so they can stay in touch with their current needs and wants
4. Those groups - individuals - and organizations that are directly affected by the practices of an organization and who therefore have a stake in its performance
Organizational Stakeholders
Sole Proprietership
Operations (Production) Management
Work Specialization
5. Non-fluctuating rate that banks use to offer short-term loans of high dollar amounts made up of several interest rates
Patent
Corporate Strategy
trade allowance
Prime Rate
6. Products having nonphysical features - such as information - expertise - or an activity that can be purchased
Socialism
Services
debt-to-total-assets ratio
inventory turnover ratio
7. Obligations that must be next within a year
variable costs
Labor Union
current liabilities
Mixed Management
8. Using promotion - product - distribution - and price to differentiate a good or service from those of competitors in the mind of the prospective buyer
geodemographics
product advertising
Recession
positioning
9. Customer value created by converting raw materials and other inputs into finished goods and services
debt financing
form utility
Leading
primary factors of market segmentation
10. Short-term credit or debt amounts that a company owes its suppliers: the company's "bills" in other words
owner's equity equation
accounts payable
Collusion
public relations
11. Stocks - bonds - and other investments that can be turned into cash quickly
Work Specialization
mission statement
marketable securities
Safety
12. Business with two or more owners who share in both the operation of the firm and the financial responsibility for its debts
wants
Physical Distribution
General Partnership
productivity - the success of the managers - and the morale of the other employees
13. Occurs when widespread price increases occur throughout an economic system
function of labels
Inflation
product life cycle
Price Fixing
14. A statement of what is to be accomplished that is expressed in singular - specific - and measurable terms with a target date
activity ratios
objectives
activity ratios
function of packaging
15. Advertising that appears on various items such as coffee mugs - pens - and calendars - designed to help keep a company's name in front of customers
decision-making role
risks of product-line extensions
public relations
specialty advertising
16. Identification and analysis of organizational strengths and weaknesses and environmental opportunities and threats as part of strategy formulation
Swot Analysis
inside board members
Corporate Strategy
Laws
17. 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
customer service
Business Cycle
marketing research
Corporation
18. Organization through which member nations negotiate trading agreements and resolve disputes about trade policies and practices
advertising approach
Mission Statement
Leading
World Trade Organization (WTO)
19. The process of changing an organization's structure - Has a small negative effect on task performance. - Has a more significant negative effect on organizational commitment.
Restructuring
Quality
factors that influence pricing decisions
Whistle Blower
20. Communications channels - such as newspapers - radio - and television
fixed costs
media
Standard of living
Leading
21. The marketer must decide whether to keep the product and reduce its costs to compensate for declining sales or to discontinue it
decline stage
Theory Z
Exchange Rate
function of labels
22. Choosing one alternative from among several options
advertising approach
Depression
Wholesaler
Decision Making
23. Organization's statement of how it will achieve its purpose in the environment in which it conducts business
methods of finance for an expanding business
schematic of marketing process
Mission Statement
Unethical Behavior
24. The principal that exchange rates are set so that the prices of similar products in different countries are about the same
Purchasing Power Party
close the books
product
Safety
25. When a task is too time consuming for a manager to handle alone - he or she may ____.
brand names
customer buying behavior
delegate the task
Socialism
26. Gathering of media representatives at which companies announce new information; also called a press conference or press briefing
Marketer
news conference
Substitute Product
Inflation
27. Businesses - nonprofit organizations - and government agencies that purchase goods and services for use in their operations
Organizational Stakeholders
communication mix
cost of goods sold equation
organizational market
28. Using relative information to predict how many jobs will be needed
forecasting
function of labels
Board of Directors
advertising approach
29. Very few large firms dominate the market such as coke - pepsi - GM - McDonalds
Safety
corporate strategies
Natural monopoly
Oligopoly
30. The amount of money charged for a product or service
specialty advertising
quality control circles
price
brand extension
31. Top manager who is responsible for the overall performance of a corporation
fixed costs
Chief Executive Officer (CEO)
Wholesaler
Prime Rate
32. Strategy of coordinating and integrating all communications and promotional efforts with customers to ensure greater efficiency and effectiveness
integrated marketing communications
Depression
activity ratios
financial plan
33. Measure of time a company takes to turn its accounts receivable into cash - calculated by divided sales by the average value of accounts receivable for a period
promotional strategy
accounts receivable turnover ratio
positioning
time utility
34. Where products are conveniently placed for customers
place utility
line organization
accounting equation
Service Business
35. Products characterized by a plain label - with no advertising and no brand name
Middle Manager
Contingent Worker
loss-leader
generic products
36. Beliefs about what is right or wrong and good or bad in actions that affect others
consumer market
Ethics
Human Resource Management (HRM)
World Trade Organization (WTO)
37. Law created by consistitution(s) or by federal - state - or local legislative acts
Statutory Law
direct marketing approach
Decision-Making Skills
Mission Statement
38. Management theory incorporating Japanese emphasis on collective decision making and concern for employees with American emphasis on individual responsibility is ____.
Ethics
Theory Z
Demand
activity ratios
39. Characteristic of decentralized companies with relatively few layers of management
Public Goods
Flat Organizational Structure
brand mark
Unlimited Liability
40. Computer system that supports managers by providing information- reports - schedules - plans and budgets- that can be used for making decisions
personal sales approach
Purchasing Power Party
Management Information System (MIS)
Inflation
41. The phase in which unemployment begins to decrease. demand for goods and services increase - and GDP begins to rise
trademarks
Processing
primary factors of market segmentation
Recovery
42. Goal set for the very near future
cause-related marketing
Short-Term Goal
Prosperity
generic products
43. Process through which a manager allocates work to subordinates
advertising
Limited Liability
Delegation
news release
44. A name - term - sign - symbol - design or combination of those used to identify the products of a firm and competing products
coupons
wants
brand
Deregulation
45. Group of small investors who invest money in companies with rapid growth potential
Venture Capital Company
marketing research
marketable securities
cognitive dissonance
46. Method of combining geographical data with demographic data to develop profiles of neighborhood segments
vertical analysis
financial management
Purchasing Power Party
geodemographics
47. Gross domestic product (GDP) adjusted to account for changes in currency values and price changes
Real GDP
job rotation
negative reinforcement
penetration pricing
48. Compensation other than wages and salaries
Benefits
Manufacturer
Limited Liability Corporation (LLC)
line organization
49. Takes the extractor's products or raw materials and changs the into a form that consumers can use
market share
Manufacturer
long-term liabilities
Board of Directors
50. Systematic direction and control of the processes that transform resources into finished products that create value for and provide benefits to customers
categories of customer communication
Depression
Operations (Production) Management
positioning