Midterm Review

If you instantly recognize the name of a business, like Facebook or Amazon, you know the company has strong marketing.

• True

• False

Choose the answer. Which part of a business plan provides an overview of what the business is about?

• market analysis

• management and organization

• sales

• executive summary

Choose the answer. Which function most tied together with accounting?

• accounting and finance

• accounting and marketing

• accounting and sales

• accounting and human resources

Choose the answer. Which part of a business plan provides information about critical employees and the skills they bring to the company?

• business description

• market analysis

• executive summary

• management and organization

Choose the answer. Which of the items listed here is not a typical function needed to operate a business?

• human resources

• finance

• Food Service

• marketing

Choose the answer. You are marketing a cheap backpack that is especially geared toward the needs of high school students. What demographic variable would you most likely consider in your marketing campaign?

• gender

• age

• religion

• marital status

Choose the answer. The actions of your marketing department most directly affect which part of your business?

• sales

• finance

• management

• production

Which of the following is NOT a part of the business cycle?

• Trough

• Excalibur

• Peak

• Expansion

Which of the following indicates a period of time in which economic decline is happening?

• Contraction

• Expansion

• Trough

• Peak

Factories are an example of human capital

• True

• False