Principles Of Business: Marketing And Finance Quiz! Trivia

50 Questions | Total Attempts: 218

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Principles Of Business Quizzes & Trivia

Questions and Answers
  • 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

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