MP-013 TERMS

MP-013 TERMS

8th - 9th Grade

20 Qs

quiz-placeholder

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MP-013 TERMS

MP-013 TERMS

Assessment

Quiz

Business

8th - 9th Grade

Practice Problem

Easy

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Production costs

Expenses directly associated with the creation of products (e.g., raw materials)

Costs related to marketing and advertising

Overhead costs not directly tied to production

Employee salaries unrelated to production

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Qualitative forecasting

Sales forecasting that is based on expert opinion and personal experience

Sales forecasting that relies on historical data and statistical methods

Sales forecasting that uses market trends and consumer behavior analysis

Sales forecasting that is based on random sampling and guesswork

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Market segment

A group of people who share the same characteristic(s) (e.g., age, nationality, gender)

A marketing strategy aimed at a broad audience

A type of product designed for a specific demographic

A financial analysis of market trends

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Intermediate-range forecasting

Sales forecasting that predicts sales for periods of one week to three months; used for short-term planning.

Sales forecasting that predicts sales for periods of three months to two years; used to plan quarterly or yearly budgets or to determine whether to make capital expenditures (purchases of equipment, land, etc.)

Sales forecasting that predicts sales for periods of two to five years; used for long-term strategic planning.

Sales forecasting that predicts sales for periods of one year to five years; used to assess market trends.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Benchmark

A point of reference

A type of measurement

A statistical analysis method

A financial report

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Periodical

A magazine or newspaper

A type of book

A scientific journal

A daily news report

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Inventory

The goods a business has in stock

The process of managing financial records

The total amount of money a business earns

The equipment used in production

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