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How much business do you know? Flashcards | StudBud
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How much business do you know?
What is a target market?
What does the acronym CEO stand for?
How much business do you know?
24 terms
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1
What does the acronym CEO stand for?
Chief Executive Officer
Corporate Employee Overseer
Certified Economic Overseer
Central Energy Operator
2
What is a target market?
The people who own the business
The employees in a company
The group of customers a business aims to serve
The competitors in an industry
3
Which term describes when one company buys another?
Takeover
Expansion
Merger
Franchise
4
What is the purpose of a SWOT analysis?
Analyze strengths, weaknesses, opportunities, threats
Compare prices
Build websites
Measure employee satisfaction
5
Which of the following is a short-term goal?
Paying rent this month
Expanding a company in 5 years
Retiring at 65
Saving for college in 10 years
6
Which financial document shows a company’s profits and losses?
Invoice
Balance sheet
Budget
Income statement
7
Which of these is most likely NOT a business expense?
Office supplies
Movie Tickets
Gasoline
Electricity
8
A business that has exclusive rights to sell a product or service under a larger brand is a:
Partnership
Sole proprietorship
Corporation
Franchise
9
Which of the following would be found in a business plan?
Sports scores
Personal medical records
Favorite hobbies
Marketing strategy
10
Which of the following IS NOT one the “P” in the 4 Ps of marketing?
Place
Product
Precision
Price
11
What is a resume?
A company's sales report
A product description
A business tax form
A summary of a person’s education and work experience
12
Which department is mainly responsible for hiring and managing employees?
Human Resources
Marketing
Sales
Finance
13
What is the main goal of most businesses?
To make a profit
To reduce competition
To entertain
To follow government orders
14
What is an example of a liability for a business?
Profit from last quarter
Outstanding loan
Equipment owned
Cash in hand
15
Which of the following is considered a
service
business?
Bakery
Hair salon
Car dealership
Clothing store
16
Which term describes a person who starts and runs their own business?
Entrepreneur
Supervisor
Investor
Manufacturer
17
In marketing, what does “branding” refer to?
Setting prices
Writ
Creating a business name, logo, and identity
Advertising online
18
What is the basic economic problem?
Scarcity
Overproduction
Recession
Inflation
19
Why do businesses advertise?
To stop competitors
To raise taxes
To reduce production
To attract customers
20
Which of the following is an example of intellectual property?
Logo design
Building lease
Office furniture
Company truck
21
Which type of business ownership has the greatest legal risk for the owner?
Nonprofit
Corporation
Partnership
Sole proprietorship
22
What is interest?
The value of products
A company’s total sales
Employee Wages
The cost of using someone else's money
23
Which is a benefit of e-commerce?
Access to global markets
Slower shipping
Higher taxes
Smaller profits
24
Which of these is an example of a fixed cost?
Raw materials
Advertising fees
Utility bills
Monthly rent
