Business and Marketing Quiz

A person who identifies a business gap, accepts the risk involved, and organizes resources to earn profit is called:

• Entrepreneurship

• Salesmanship

• Resource manager

• Consumerism

In local transportation of goods, which of the following documents is commonly used to record the shipment details?

• Manifest

• Receipt

• Export invoice

• Consular invoice

Which of the following is not a major factor that determines the price of a product?

• Level of market demand

• Competitors' price

• Standard of living

• Economic trend

What marketing activity involves gathering, analyzing, and reporting data for making business decisions?

• Planning

• Strategy

• Audit

• Research

A product that has gone through manufacturing or processing is referred to as:

• Intangible product

• Primary product

• Extractive product

• Secondary product

Which of these is considered an internal method of raising business capital?

• Debenture

• Government grants

• Overdraft

• Plough-back profit

Which of the following does not encourage people to go into self-employment?

• Availability of capital

• Creation of wealth and knowledge explosion

• Reliance on welfare

• Absence of job opportunity

In a marketing study, which process involves collecting necessary facts and figures?

• Decision making

• Market testing

• Product testing

• Information gathering

Iron ore falls under which type of product classification?

• Secondary product

• Primary product

• Consumer product

• Semi-finished product

A short-term tactic used to increase consumer purchases is known as:

• Sales promotion

• Publicity

• Advertising

• Personal selling