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. The processes and behaviors used by someone - such as a manager - to motivate - inspire - and influence the behaviors of others






2. Personal communication between a seller and one or more potential buyers






3. 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






4. 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.






5. Specific goods - services - experiences - or other entities that are desirable in light of a person's experiences - culture - and personality






6. Identification and analysis of organizational strengths and weaknesses and environmental opportunities and threats as part of strategy formulation






7. The quantity of a good that an average worker can produce in an hour






8. In bookkeeping - an increase in assets






9. Ratios that measure a firm's ability to meet its short-term obligations when they are due - judged on the basis of working capital - current ratio - and quick ratio






10. The process in which managers and their employees jointly set objectives for the employees - periodically evaluate performance - and reward according to the results






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






12. Corporation whose stock is held by only a few people and is not available for sale to the general public






13. 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






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






15. Measure how well a company is managing assets; two types inventory turnover and accounts receivable turnover






16. People are internally motivated






17. Portion of a company's assets that belongs to the owners after obligations to all creditors have been met

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18. The degree to which customers continue to purchase a specific brand






19. Gross domestic product (GDP) adjusted to account for changes in currency values and price changes






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






21. Using relative information to predict how many jobs will be needed






22. Corporation whose stock is widely held and available for sale to the general public






23. The way a manager teats and directs employees






24. Body of decisions handed down by courts ruling on individual cases






25. 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






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






27. Top manager who is responsible for the overall performance of a corporation






28. A series of related products offered by a firm






29. Product that is dissimilar from those of competitors but than can fulfill the same need






30. Selling method in which the price is set by customers bidding against each other






31. Bar codes on product packages that provide information read by optical scanners






32. 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






33. Positive reinforcement - negative reinforcement - punishment






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






35. Non-fluctuating rate that banks use to offer short-term loans of high dollar amounts made up of several interest rates






36. Method of calculating the minimum volume of sales needed at a given price to cover all costs






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






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






39. Tension that exists when a person's beliefs don't match his or her behaviors: a common example is buyer's remorse - when someone regrets a purchase immediately after making it






40. Product made or grown abroad but sold domestically






41. An extra amount of time granted to a party to make a payment






42. Current assets minus current liabilities






43. Strategy whereby a firm sells one or more of its business units






44. Independent and well informed buyers and sellers of the exact same product (farmers markets)






45. The combined use of tactical and strategic management






46. Strategy of coordinating and integrating all communications and promotional efforts with customers to ensure greater efficiency and effectiveness






47. Agreement to produce and market another company's product in exchange for a royalty or fee






48. Customer value created by converting raw materials and other inputs into finished goods and services






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






50. Manufacturing and selling costs - competition - the needs of wholesalers and retailers who distribute the product to the final customer - the firm's marketing objectives - government regulations - quality perceptions - and customer demand