Business Management Quiz

People producing goods and services are called

• Limited resources

• Natural resources

• Human resources

• Capital resources

The rivalry among businesses in selling their goods and services is known as

• Competition

• Cornering the market

• Capitalism

• Entrepreneurship

Which type of economy is usually centered mainly on meeting people’s basic needs?

• Command economy

• Traditional economy

• Mixed economy

• Market economy

Which marketing function involves communicating directly with potential customers to determine their needs?

• Pricing

• Financial analysis

• Products and service management

• Selling

If you purchase a corporate or government bond, you are a(n)

• Partner

• Stockholder

• Entrepreneur

• Creditor

Which of the following is not considered one of the marketing functions?

• Pricing

• Promotion

• Selling

• Product

A unique business organized by two or more other businesses to operate for a limited time and for a specific project is called a

• Limited liability partnership

• Joint venture

• Limited liability company

• Nonprofit corporation

The largest producer of goods and services in the world is

• China

• Japan

• Russia

• The United States

Governments borrow money by selling

• Promissory notes

• Stock

• Bonds

• All of the above

What are the four elements of a marketing mix?

• Cost, location, time, and advertising

• Demographics, income, supply, and demand

• Product, price, place, promotion

• Consumers, manufacturers, retailers, and distributors