Final Exam DE Business

In labor relations, formal negotiation with business managers in the industry is referred to as:

• labor contract

• collective bargaining

• arbitration

• mediation

A fee paid to an agent or employee for transacting a piece of business or performing a service is a:

• commission

• wage

• service

• salary

Fixed compensation paid regularly for services is known as:

• tip

• bonus

• wage

• salary

An explanation of what a position at a company will require from an employee is:

• job application

• job description

• resume

• job promotion

The branch of management that supports employees within an organization is called:

• human management

• organizational management

• human resources management

• resource management

The amount of money expected in payment for a good or service is called the:

• product

• promotion

• place

• price

The marketing 'P' that involves the path products take to get to the user and involves the channel of distribution is called:

• product

• promotion

• place

• price

Which of the following is NOT a marketing concept?

• Company goals

• Profits

• Customer needs

• Globalization

A specific group of people a business focuses on selling their product to is called:

• target market

• advertising

• distribution

• personal selling

The promotion of products through nonpersonal communication is:

• marketing strategy

• advertising

• digital marketing

• brand strategy