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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. Wide variety of persuasive techniques used by companies to communicate with their target markets and the general public






2. Making decisions without consulting anyone






3. Single year; A method of financial statement analysis in which each entry for each of the three major categories of accounts (assets - liabilities and equities) in a balance sheet is represented as a proportion of the total account; income statement






4. Process of scanning the business environment for threats and opportunities






5. Direct communication other than personal sales contacts designed to effect a measurable response






6. Marketers focus on stimulating demand for the new product






7. Study of statistical characteristics of a population






8. Advertising intended to remind existing customers of a product's availability and benefits






9. Very few large firms dominate the market such as coke - pepsi - GM - McDonalds






10. Cash and items that can be turned into cash within one year






11. Agreement to gradually eliminate tariffs and other trade barriers among the United States - Canada - and Mexico






12. Process by which the world is becoming a single interdependent system






13. Brand awareness - brand preference - brand insistence






14. Good or service used as the basis of commerce






15. Organization for economic - social - and security cooperation among European nations






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






17. Cost-based pricing - price-based pricing - optimal pricing - skim pricing - penetration pricing - loss-leader pricing - auction pricing






18. Takes the extractor's products or raw materials and changs the into a form that consumers can use






19. Lots of leeway to workers to meet goals






20. Assets = liabilities + owner's equity






21. A large number of identical products are assembled using a continuous - efficient procedure






22. Media: tv - radio - internet - print; audience: broad - intensity: passive - purpose: inform - persuade






23. Profit earned or loss incurred by a firm - determined by subtracting expenses from revenues; also called the bottom line






24. 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.






25. Business costs that increase with the number of units produced






26. A firm's portion of the total sales in a market






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






28. Strategy in which two or more organizations collaborate on a project for mutual gain






29. An overall corporate strategy for growth - stability - or turnaround and retrenchment - or for some combination of these






30. Selling or supporting the sales process over the telephone






31. Large-scale production and distribution of a product






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

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33. 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






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






35. Form of nonstore retailing in which the telephone is used to sell directly to consumers






36. 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.






37. Physical products purchased by consumers for personal use






38. Ratios that measure a firm's reliance on debt financing of its operations






39. Occurs when widespread price increases occur throughout an economic system






40. Extends 3 to 5 years into the future. Begins with in-depth analysis of internal environment's strengths and weaknesses. Reviews external opportunities and threats so realistic goals can be set






41. Certificates that offer discounts on particular items and are redeemed at the time of purchase






42. S- strengths W- weaknesses O- opportunities T- threats - strengths and weaknesses are internal factors of the company; opportunities and threats are external factors towards the company






43. A focus on developing and maintaining long-term relationships with customers - suppliers - and distribution partners for mutual benefit






44. Larger visual and multimedia ads that appear on websites






45. Organization through which member nations negotiate trading agreements and resolve disputes about trade policies and practices






46. Communications channels - such as newspapers - radio - and television






47. 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






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






49. Paid - nonpersonal communication to a target market from an identified sponsor using mass communications channels






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







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