General Business
What does CEO stand for?
A. Chief Executive Officer
B. Corporate Executive Organizer
C. Chief Economic Officer
D. Company Executive Operator
A. Chief Executive Officer
What is a slogan?
A. A company’s annual report
B. A short memorable phrase used in advertising
C. A legal contract
D. A pricing strategy
B. A short memorable phrase used in advertising
What is an asset?
A. A business debt
B. A government fine
C. Something valuable owned by a business
D. An unpaid bill
C. Something valuable owned by a business
Inflation is:
A. Falling wages
B. Stable pricing
C. Rising overall prices
D. Economic growth
C. Rising overall prices
A contract is:
A. Written complaint
B. Pricing agreement
C. A legal agreement
D. Company policy
C. A legal agreement
What does ROI stand for?
A. Return on Investment
B. Rate of Income
C. Revenue on Inventory
D. Return on Inventory
A. Return on Investment
What does B2C stand for?
A. Business to Consumer
B. Brand to Corporation
C. Buyer to Company
D. Business to Competition
A. Business to Consumer
What is an example of a liability?
A. A loan
B. Money earned
C. Equipment owned
D. Profit margin
A. A loan
GDP measures a country’s:
A. National debt
B. Population size
C. Imports and exports
D. Total economic output
Bonus: What does GDP stand for
D. Total economic output
Gross Domestic Product
A registered logo is protected as:
A. Inventory
B. Patent
C. Trade secret
D. Trademark
D. Trademark
What type of business is owned by shareholders?
A. Sole proprietorship
B. Partnership
C. Corporation
D. Franchise
C. Corporation
What is branding?
A. Setting prices
B. Creating a unique identity for a product or company
C. Managing inventory
D. Hiring employees
B. Creating a unique identity for a product or company
What is net profit?
A. Total sales
B. Total Gross Revenue
C. Profit after expenses
D. Cash on hand
C. Profit after expenses
Supply and demand describes:
A. Government taxation
B. Price interaction between buyers and sellers
C. Business expenses
D. Corporate profits
B. Price interaction between buyers and sellers
A customer slips on an unmarked wet floor in a store and is injured. What legal concept is most likely involved?
A. Intellectual property
B. Negligence
C. Bankruptcy
D. Arbitration
B. Negligence
What document outlines a company’s strategy and goals?
A. Invoice
B. Marketing flyer
C. Business plan
D. Receipt
C. Business plan
What is market segmentation?
A. Raising prices
B. Dividing a market into smaller groups of consumers
C. Advertising on TV
D. Selling internationally
B. Dividing a market into smaller groups of consumers
What is cash flow?
A. Total profit
B. The movement of money into and out of a business
C. Employee salaries
D. Inventory costs
B. The movement of money into and out of a business
Market equilibrium occurs when:
A. Government sets prices
B. Demand exceeds supply
C. Quantity supplied equals quantity demanded
D. Inflation stabilizes
C. Quantity supplied equals quantity demanded
Two businesses agree verbally to exchange services, but later one refuses to follow through. Which issue is most likely being disputed?
A. Trademark protection
B. Corporate governance
C. Criminal liability
D. Breach of contract
D. Breach of contract
What does SWOT stand for?
A. Sales, Weaknesses, Opportunities, Targets
B. Strengths, Weaknesses, Opportunities, Threats
C. Strategy, Work, Organization, Tactics
D. Sales, Work, Output, Trends
B. Strengths, Weaknesses, Opportunities, Threats
What is the product life cycle?
A. The lifespan of a CEO
B. The stages a product goes through from introduction to decline
C. The time it takes to manufacture a product
D. A supply chain process
B. The stages a product goes through from introduction to decline
What is compound interest?
A. Interest only on the principal
B. Interest on both the principal and previously earned interest
C. A fixed tax
D. A late fee
B. Interest on both the principal and previously earned interest
Elasticity measures:
A. Economic growth rate
B. Business productivity
C. Price ceilings
D. Responsiveness to price changes
D. Responsiveness to price changes
Ethical decision-making means:
A. Choosing highest profit
B. Avoiding penalties
C. Following competitor actions
D. Acting according to moral principles
D. Acting according to moral principles