Business Fundamentals Multiple-Choice Worksheet

A marketing organization that links a producer and user within a marketing channel are called ___

• Marketing intermediaries

• Sistributorships

• Shopping centers

• Warehousing groups

• Supermarkets

Many small firms seek to establish a particular niche in the market, realizing that they cannot afford to operate on a larger scale without exposing themselves to considerable risk of retaliation from larger companies. When a number of small businesses are operating in this manner, they are forcing the larger businesses to recognize and account for their influence on the market. In this way, small businesses are primarily

• Creating jobs

• Providing technical innovation

• Avoiding competition

• Fostering competition

• Satisfying the needs of other business

All employees are required by law to provide certain benefits to their employees. An example of such a benefit would be

• Life insurance

• Unemployment insurance

• Pension programs

• Reduced-price cafeterias

• Health insurance

Of the following, which is not considered a basic management function necessary to be an effective manager?

• Leading and motivating

• Controlling

• Organizing

• Planning

• Selling

After mr Son Tung has gotten all money he can from the bank and still cannot keep up with his fast-growing business, what is he most likely to do next if he wants his company to continue growing

• Continue to lead with the bank for more money

• Obtain a partner of from a corporation to attract more money

• Hold a fundraising campaign

• Turn away potential new customers

For a business, stakeholders represent all of the different people or groups who are affected by the business.

• True

• False

Which of the following is not generally considered to be a stage in the product life-cycle?

• Transition

• Maturity

• Growth

• Decline

In the 1920s, producers had to shift to a new sales orientation, which was characterized by all of the following except

• Determining what goods consumers wanted

• taking orders and delivering goods.

• using occasional high-pressure selling techniques

• increasing advertising.

• enlarging the sales force.

Mai Shelly was hurt on the job last week. Her medical bills for this injury are covered under

• Worker's compensation

• Life insurance

• Vacation time

• Employee retirement income security

• Social Security

Which of the following is not a disadvantage of the corporate form of ownership?

• Lack of secrecy

• Double taxation

• Limited liability

• Difficulty of formation

• Expense of incorporation and selling stock