Intro to Bus: Practice Test 2

What is the main goal of most businesses?

• To pay taxes

• To hire workers

• To make a profit

• To grow plants

Which term means 'a person who starts and runs a business'?

• Investor

• Entrepreneur

• Manager

• Banker

What is a budget?

• A. A list of employees

• B. A plan for spending and saving money

• C. A map of business locations

• D. A record of phone numbers

Which of the following is a fixed expense?

• Monthly rent

• Office supplies

• Marketing costs

• Gasoline for delivery

What does the marketing mix include?

• Product, price, place, promotion

• Profit, loss, taxes, savings

• People, products, planning, pricing

• Market, money, material, method

What is one role of human resources?

• Buying ads

• Hiring and training employees

• Cleaning the building

• Selling products

A product that satisfies a customer’s need is said to have:

• Revenue

• Value

• Supply

• Tax

A person who buys goods and services is a:

• Producer

• Customer

• Sponsor

• Promoter

What is the definition of revenue?

• The amount of money a business owes

• The number of employees at a company

• The total income from sales

• The price of supplies

A company that only has one owner is a:

• Corporation

• Partnership

• Franchise

• Sole proprietorship