Business Information Quiz # 3

A ________ is what a customer gains from the product or service feature.

Feature

Bonus

Discount

Benefit

A business opportunity is an idea, plus ________.

It is attractive to customers

It will work in your business environment

It can be executed in the defined window of opportunity

All of the above

A claim is ________; an adjustment is ________.

A goodwill message; a means to an end

An emotional reaction; a calculated response

A formal complaint; a settlement of a claim

An informal complaint; an emotional reaction

An assertion; a shift in point of view

A company newsletter is an example of ________.

Media relations

Sponsorship

Corporate identity

Internal PR

Publicity

A discount from the list, or retail, price offered to intermediaries is a(n) ____ discount.

Quantity

FOB price

Cash

Trade

Cumulative

A good or service purchased to satisfy personal and family needs is a(n) ________ product.

Convenience

Shopping

Consumer

Industrial

Specialty

A job task is a(n)________.

Set of KSAOs

Observable unit of work with a beginning and an end

Set of related tasks that are repeated on the job

Employee characteristic related to job performance

A legally protected brand is called a(n) ________.

Equity

Knockoff

Trademark

Recognized brand

Generic

A market structure with a large number of sellers who make differentiated products is called _____.

Perfect competition

Monopolistic competition

Oligopoly

A marketer focuses on a product's ________.

Physical characteristics

Service attributes

Symbolic attributes

Benefits

A net worth statement, insurance plan, and a budget are all part of a _____.

Saving and investing plan

Financial plan

Savings account long-term

Financial goal

A partnership in which owners share managerial responsibilities is called a __________.

Limited liability corporation

Specific partnership

General partnership

Limited partnership

A partnership is a business organization owned by _____

A business owned by individual stockholders

A nonprofit organization

What kind of business organization will best serve his or her interests

Two or more individuals

A prospect who _____ will say no during the first few calls to test the salesperson's persistence.

Resists change because he or she dislikes making decisions

Objects because it is a matter of custom

Has not been properly qualified

Wants to avoid the sales interview

Fails to recognize a need

A(n) _____ has a legal life of its own.

Proprietorship

Association

Trade alliance

Corporation

Partnership

A(n) ________ is a collection of data that is stored within business records.

Repository

Role

Activity

Resource

A/an _______ is a mathematical statement that calculates a value.

Argument

Function

Order of operations

Formula

All contracts can be categorized as either ___________ or __________.

Unilateral, complete

Unilateral, trilateral

Bilateral, trilateral

Unilateral; bilateral

All of the following except ________ will help you plan effective email messages.

Making sure every email you send is necessary

Following company email policy

Ignoring the chain of command

Keeping virus protection up to date

All of the following except ________ will make your business messages more effective.

Providing practical information

Clarifying expectations and responsibilities

Presenting information concisely and efficiently

Discussing personal issues and complaining about problems

An effective business document should ____.

Have a professional appearance

Convey its message concisely

Convey its message clearly

All of the above

An existing business can be for sale because _____.

The owners are retiring

The owners are entering a new business

The business is losing money

All of the above

An experimental study is one that _____.

Attempts to capture a population's characteristics by making inferences from a sample's characteristics and testing resulting hypotheses

Involves manipulation of one or more variables to determine the effect on another variable

Discovers answers to the questions who, what, when, where, or how much

Attempts to reveal why or how one variable produces changes in another

Provides repeated measures over an extended period of time

An increase in quantity supplied is represented by _____.

A downward movement along the supply curve

A shift to the right of the supply curve

An upward movement along the supply curve

A shift to the left of the supply curve

An investor who invests money into your business in exchange for equity receives ________.

A share of ownership of the business

Liability for any debt the business incurs

A monthly dividend out of the business profits

Bonds

Headaches

Another name for a manufacturer's brand is a(n) __________ brand.

Systematic

Extended

National

Premium

Private-label

Antitrust laws _____ competition, and patents _____ competition.

International trade

Increase, decrease

In a different way

Acting like monopolies

Any space free of text or artwork, both in print and online, is referred to as ________ space.

Awkward

Descriptive

Clarity

White

Assembly processes are ________ activities.

Outbound logistics

Marketing and sales

Customer sales

Administrative

Operations and manufacturing

Asset-based borrowing permits small businesses ________.

To borrow up to 100 percent of the value of their inventory or their accounts receivable for the money they need for long-term goals

To use normally unproductive assets such as accounts receivable and inventory

To obtain loans more easily but with less borrowing power than using unsecured lines of credit

Access to a source of funds ideally suited for long-term financing needs