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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. The activity - set of institutions - and process for creating - communicating - delivering - and enhancing offerings that have value for customers - clients - partners - and society at large






2. Ethical or unethical behaviors by employees in the context of their jobs






3. ____ help focus attention on what is important and are broader statements than objectives. More quantitative the ____ - the more likely its achievement is to receive attention and less likely it is to be distorted. The end or outcome to be accomplis






4. Intermediary who sells products directly to consumers






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






6. Advertising that tries to sell specific goods or services - generally by describing features - benefits - and occasionally - price






7. Specific customer groups or segments to whom a company wants to sell a particular product






8. Promotional campaigns that send information only to those people who've specifically asked to receive it






9. All the operating expenses associated with marketing goods or services






10. Specification of the jobs to be done within an organization and the ways in which they relate to one another






11. Occurs when two companies form one corporation






12. Process of subdividing a market into homogeneous groups to identify potential customers and to devise marketing approaches geared to their needs and interests






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






14. Statement of beliefs and values that direct behavior - clear concise manner and included in staff handbooks and annual reports.






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






16. Making a product available at a convenient time






17. Acquiring funds through borrowing






18. Degree to which customers continue to buy from a particular retailer or buy the products of a particular manufacturer or service provider






19. Categorization of customers according to their geographical location






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






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






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






23. Market or industry characterized by numerous buyers and relatively numerous sellers trying to differentiate their products from those of competitors






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






25. Ratios that measure the effectiveness of the firm's use of its resources






26. Total value of all goods and services produced within a given period by a national economy through domestic factors of production






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






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






29. Alternative plans to be implemented if uncontrollable event occur






30. Use a brand name on a variety of related products






31. Economy in which individuals control production and allocation decisions through supply and demand






32. Protects art and literary work - give authors exclusive right to publish - sell and reproduce their work






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






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






35. Under the Americans with Disabilities Act - companies cannot fire or refuse to hire people because of...






36. Way of recording financial transactions that requires two entries for every transaction so that the accounting equation is always kept in balance






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






38. Informal work groups can affect ____.






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






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






41. Goal set for the very near future






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






43. The willingness and ability of buyers to purchase a good or service






44. The value that a company has built up in a brand






45. Legal principal holding investors liable for a firm's debts only to the limits of their personal investments in it






46. 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






47. Claims against a firm's assets by creditors - such as banks and suppliers






48. Obtain goods they cannot produce - reflect comparative advantage - and create jobs






49. The amount of money charged for a product or service






50. Offering several products for a single price that is presumably lower than the total of the products' individual prices







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