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. Form - time - place - possession






2. Portion of a brand that cannot be expressed verbally






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






4. Any things of value owned or leased by a business such as equipment - cash - land - buildings - inventory - investments - patents - and copyrights






5. Strategic alliance in which the collaboration involves joint ownership of the new venture






6. Use of quantitative measures to evaluate a firm's financial performance - compares two elements from the same year's financial figures; computed by divided one element of a financial statement by another






7. Power to make the decisions necessary to complete a task






8. An increase in liabilities






9. Demographics - psychographics - and geographics






10. Stems from personal trust and respect members have for the leader






11. 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






12. Offering a temporary reduction in price






13. Positive reinforcement - negative reinforcement - punishment






14. Ratio between net income after taxes and net sales; also known as profit margin






15. Product - price - distribution - customer communication


16. Business with two or more owners who share in both the operation of the firm and the financial responsibility for its debts






17. Marketers focus on stimulating demand for the new product






18. This level of management includes department heads and district sales managers.






19. The level of joblessness among people actively seeking work in an economic system






20. Managers who develop and implement a complete strategy and marketing program for specific products or brands






21. Payments other than wages or salaries - other benefits






22. Product made or grown domestically but sold abroad






23. The combined use of tactical and strategic management






24. Nonsales communication that businesses have with their various audiences






25. A measure of the sensitivity of demand to changes in price






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






27. Manager responsible for implementing the strategies and working toward the goals set by top managers






28. Measure of a firm's short-term liquidity - calculated by adding cash - marketable securities - and receivables - then divided that sum by current liabilities; also known as the acid-test ratio






29. Sales promotion aimed at final consumers






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






31. Management process of guiding and motivating employees to meet an organization's objectives






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






33. The action of ensuring that operations produce products that meet specific quality standards






34. Statement or document that defines the direction and scope of the promotional activities that a company will use to meet its marketing objectives






35. Classification of customers on the basis of their psychological makeup - interests - and lifestyles






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






37. A leadership style where the manager is directive and controlling






38. A forecast of financial requirements and the financing sources to be used






39. Categorization of customers according to their relationship with products or response to product characteristics






40. Approach to business management that stresses customer needs and wants - seeks long-term profitability - and integrates marketing with other functional units within the organization






41. Ratio between net income after taxes and total owners' equity; also known as return on equity






42. 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






43. Government agency charged with assisting small businesses - a govt agency that helps small business owners develop business plan and obtain financing and other support for their companies






44. The portion of shareholders' equity earned by the company but not distributed to its owners in the form of dividends






45. Activities producing tangible products such as radios - newspapers - buses and textbooks






46. Acquiring funds by selling shares of a company's stock






47. Roles of shareholders - directors - and other managers in corporate decision making and accountability






48. Four basic stage through which a product progresses: introduction - growth - maturity - and decline






49. Brands that have been given legal protection so that their owners have exclusive rights to their use






50. The state of being certain that adverse effects will not be caused by some agent under defined conditions