Principles Of Business: Marketing And Finance Quiz! Trivia

50 Questions | By DonCollins | Updated: Mar 21, 2022 | Attempts: 453

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1.

Who first identified cyclical patterns in the economy and created what is often referred to as "The business cycle"?
- A.
  
  William Trough
- B.
  
  James Peak
- C.
  
  Clemente Juglar
- D.
  
  Joseph Aggregate
2.

Words, symbols, names or devices used to specify goods and to differentiate them from others are called?
- A.
  
  Domain names
- B.
  
  Copyrights
- C.
  
  Trademarks
- D.
  
  Secured
3.

Protectons provided to authors of original work?
- A.
  
  Domain Names
- B.
  
  Trademarks
- C.
  
  Mentors
- D.
  
  Copyrights
4.

Name four types of business ownership?
- A.
  
  Total output, income, employment, trade
- B.
  
  Peak, recession, trough, expansion
- C.
  
  Sole proprietorship, partnership, corporation, franchise
- D.
  
  Franchise, corporation, Sole proprietorship, investors
5.

Assets are items of value your company owns.
- A.
  
  True
- B.
  
  False
6.

Capital is wealth in the form of money or property?
- A.
  
  True
- B.
  
  False
7.

Angel investors are wealthy individuals who seek high returns through private investments.
- A.
  
  True
- B.
  
  False
8.

A _________________ is the right or license to sell a company's product or service at a designated location, an example would be McDonalds(R).
- A.
  
  Corporation
- B.
  
  Sole Proprietorship
- C.
  
  Franchise
- D.
  
  Partnership
9.

The Uniform Commercial Code (UCC) governs the sale of goods.
- A.
  
  True
- B.
  
  False
10.

Employment law covers all aspects of the employer and the employee relationship.
- A.
  
  True
- B.
  
  False
11.

What is a union?
- A.
  
  A group formed by employees to negotiate with the employer
- B.
  
  A specialized group of employees
- C.
  
  A group which is illegal in most states
- D.
  
  A group devoted to similar religious practices
12.

What is the Equal Employment Opportunity Commission (EEOC)?
- A.
  
  Federal organization which controls the equality of power
- B.
  
  State organization founded to deal with employment problems
- C.
  
  Federal organization which oversees most employment discrimination law including the Equal Pay Act and the Americans with Disabilities Act of 1990
- D.
  
  Local organization which works closely with the police department
13.

What type of utility refers to using raw materials?
- A.
  
  Possession utility
- B.
  
  Time utility
- C.
  
  Form utility
- D.
  
  Information utility
14.

Economic resources are also called factors of production.
- A.
  
  True
- B.
  
  False
15.

A market economy usually has one person or a group of persons making production decisions.
- A.
  
  True
- B.
  
  False
16.

Which of the following is not a government role in the U.S. economy?
- A.
  
  Provides services
- B.
  
  Supports businesses
- C.
  
  Regulates by making laws
- D.
  
  Determines prices
17.

Conditions of supply and demand interaction include
- A.
  
  Surpluses
- B.
  
  Shortages
- C.
  
  Equilibriums
- D.
  
  All of the above
18.

Employee productivity measures the total goods and services produced in a country.
- A.
  
  True
- B.
  
  False
19.

When conducting a market analysis you should forecast the next
- A.
  
  1 to 3 years
- B.
  
  3 to 5 years
- C.
  
  5 to 8 years
- D.
  
  8 to 10 years
20.

New small businesses should design a ________________ business structure.
- A.
  
  Bureaucratic
- B.
  
  Hierarchical
- C.
  
  Learning-based
- D.
  
  None of the above
21.

Management profiles do NOT include which of the following:
- A.
  
  A list of community relations
- B.
  
  A description of their function in an organization
- C.
  
  A list of industry relations
- D.
  
  A description of family
22.

With what office do you register your business name?
- A.
  
  Office of Comptroller
- B.
  
  Secretary of State
- C.
  
  Small Business Administration
- D.
  
  Courthouse
23.

All of the following are acceptable prevention techniques to avoid groupthink except
- A.
  
  Trained facilitator
- B.
  
  Personality tests
- C.
  
  Devils advocate
- D.
  
  Comparing responses from multiple focus group sessions
24.

What is the purpose of the sales process?
- A.
  
  To have a chance to close the sale
- B.
  
  To determine customer's needs
- C.
  
  To determine customer's wants
- D.
  
  To determine customer's problems
25.

Determining the customer's needs is the ___________ step of the sales process.
- A.
  
  First
- B.
  
  Second
- C.
  
  Third
- D.
  
  Fourth