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WorksheetsIntro to Business Final
Total questions: 97
Worksheet time: 32mins
Name
Class
Date
1.
Items bought from other countries
a)
Exports
b)
Tariffs
c)
Embargoes
d)
Imports
2.
Goods and services sold to other countries
a)
Exports
b)
Imports
c)
Tariffs
d)
Embargoes
3.
Making, buying, and selling of goods and services within a country.
a)
International Business
b)
Economic Business
c)
Domestic Business
d)
Foreign Business
4.
The amount a country owes to other countries
a)
Marginal Debt
b)
National Debt
c)
Domestic Debt
d)
Foreign Debt
5.
The value of a currency in one country compared with the value in another
a)
Transfer Rate
b)
Exchange Rate
c)
Monetary Rate
d)
International Rate
6.
Location, climate, terrain, seaports, and natural resources
a)
Zone
b)
Latitude
c)
Geography
d)
Longitude
7.
A nation's transportation, communication, and utility systems
a)
Public Utilities
b)
Satellite
c)
Mobility Structure
d)
Infrastructure
8.
Restrictions to free trade
a)
Exports
b)
Imports
c)
Trade Barriers
d)
Absolute Advantage
9.
To regulate international trade, governments set a limit on the quantity of a product that may be imported or exported within a given period
a)
Tariffs
b)
Quotas
c)
Duties
d)
Embargoes
10.
A tax that a government places on certain imported products
a)
Tariff
b)
Embargoes
c)
Duties
d)
Imports
11.
When the government stops the export or import of a product completely
a)
Duties
b)
Export Traffic
c)
Embargo
d)
Import Traffic
12.
A selected area where products can be imported tax-free and then stored, assembled, and/or used in manufacturing; usually located around a seaport or airport
a)
Common Zone
b)
Duty Zone
c)
Free-Trade Zone
d)
International Zone
13.
An organization that does business in several counties
a)
Domestic Company
b)
Distinct Company
c)
Oligopoly
d)
Multinational Company
14.
Selling the right to use some intangible property for a fee or royalty
a)
Licensing
b)
Franchising
c)
Operating Costs
d)
Premiums
15.
Right to use a company name or business process in a specific way
a)
Operating Costs
b)
Franchise
c)
Premiums
d)
Proprietary Startup
16.
An agreement between two or more companies to share a business project
a)
Joint Venture
b)
Multi-company Venture
c)
Dual Venture
d)
Oligopoly
17.
Rules about how businesses and their employees ought to behave
a)
Business Ethics
b)
Core Ethics
c)
Business Plans
d)
Values
18.
An agreement to exchange goods or services for something of value
a)
Trading
b)
Bartering
c)
Exchange Rate
d)
Contract
19.
Protection of the work of authors, composers, and artists
a)
Intangible Property
b)
Core Ethics
c)
Copyright
d)
Lawful Practices
20.
A business that has complete control of the market for a product or service
a)
Oligopoly
b)
Market Leader
c)
Market Capital
d)
Monopoly
21.
A natural resource, such as gas, coal, copper or iron ore, that cannot be replaced once it is used up
a)
Renewable Resources
b)
Earth Resources
c)
Non-Renewable Resources
d)
Man-Made Resources
22.
The exclusive right given to a person to make, use, or sell an invention for a period of 20 years
a)
Patent
b)
Copyright
c)
Trademark
d)
Intellectual Property
23.
When the environment is tainted with the by-products of human actions
a)
Environmental Protection
b)
EPA
c)
Pollution
d)
Deflating
24.
A word, letter, or symbol associated with the specific product or company
a)
Patent
b)
Trademark
c)
Copyright
d)
Intellectual Property
25.
The saving of scarce natural resources
a)
Pollution
b)
Restricting
c)
Embargo
d)
Conservation
26.
A purely intangible item, with no physical characteristics, including patents
a)
Good Producing Business
b)
Intermediary
c)
Intellectual Property
d)
Consideration
27.
A tax based upon the earnings or income of an individual
a)
Capital Gains Tax
b)
Property Tax
c)
Income Tax
d)
Inheritance Tax
28.
A tax based on the value of land and buildings
a)
Property Tax
b)
Income Tax
c)
Capital Gains Tax
d)
Inheritance Tax
29.
A state or local tax on goods and services that is collected by the seller
a)
Income Tax
b)
Sales Tax
c)
Property Tax
d)
Capital Gains Tax
30.
Which of the following is NOT an example of a public utility?
a)
Natural Gas
b)
Electricity
c)
Water
d)
Internet
31.
Who does workplace diversity involve?
a)
Minorities
b)
Women
c)
Physically Disabled
d)
Older Workers
e)
All The Above
32.
Which of the following is NOT an example of a non-renewable resource?
a)
Oil
b)
Natural Gas
c)
Corn Field
d)
Minerals
33.
A separate legal entity, formed by documents filed by the state, which is owned by one or more shareholders and managed by a board of directors
a)
Proprietorship
b)
Partnership
c)
Entrepreneurship
d)
Corporation
34.
A written contract granting permission to operate a business, to sell products and services in a prescribed way.
a)
License
b)
Copyright
c)
Trademark
d)
Franchise
35.
A specific statement of results the business expects to achieve
a)
Value
b)
Rule
c)
Goal
d)
Prestige
36.
A short, specific written statement of the reason a business exists and what it wants to accomplish.
a)
Core Values Statement
b)
Market Statement
c)
Identity Statement
d)
Mission Statement
37.
A business owned and controlled by two or more people who have entered into a written agreement.
a)
Corporation
b)
Limited Liability Company
c)
Proprietorship
d)
Partnership
38.
A business owned and controlled by just one person
a)
Partnership
b)
Joint Venture
c)
Proprietorship
d)
Venture Capitalist
39.
Guidelines used in making consistent decisions
a)
Mission Statement
b)
Values
c)
Expectations
d)
Policies
40.
Descriptions of the way work is to be done
a)
Outlines
b)
Values
c)
Procedures
d)
Ethics
41.
Businesses that complete activities that are consumed by customers rather than offering products for sale
a)
Good Producing Business
b)
Proprietorships
c)
Entrepreneurships
d)
Service Business
42.
Creates the products and services used by individuals and other businesses
a)
Producer
b)
Extractor
c)
Capital Manufacturer
d)
Distribution Capacity
43.
A business that takes resources from nature for direct consumption or for use in developing other products
a)
Extractor
b)
Monopoly
c)
Advertising Agency
d)
Channel Member
44.
This group of workers cultivate the land and uses other natural resources to grow crops and raise livestock for consumption.
a)
Extractor
b)
Producer
c)
Farmer
d)
Channel Member
45.
This business gets supplies from other producers and converts them into products
a)
Intermediary
b)
Manufacturer
c)
Venture Capitalist
d)
Business Consumer
46.
These are the people in a corporation who will make the major policy and financial decisions for the business
a)
Board of Directors
b)
Venture Capitalists
c)
Shareholders
d)
Investment Bankers
47.
What part of a business discovers new products, services, and operating ideas for a business?
a)
Product and Service Management
b)
Financial Analysis
c)
Marketing Strategy
d)
Research and Development
48.
A group of people who join to do some activity that benefits the public, education, health care, charity, and arts.
a)
Cooperative
b)
Small Business
c)
Nonprofit Corporation
d)
Public Utility
49.
A written description of the business idea and how it will be carried out, including all major business activities
a)
Action Plan
b)
Business Plan
c)
Mission Statement
d)
Goal
50.
Someone who takes a risk in starting a business to earn a profit
a)
Specialized Intermediary
b)
Secret Agent
c)
Bear Market
d)
Entrepreneur
51.
An invention or creation that is brand new
a)
Innovation
b)
Invention
c)
Basic Product
d)
Product Features
52.
An independent business with fewer than 500 employees
a)
Corporation
b)
Intermediate Business
c)
Small Business
d)
S-Corporation
53.
Money provided by large investors to finance new products and new businesses that have a good chance to be very profitable
a)
Entrepreneurship
b)
Venture Capital
c)
Equity
d)
Small Business Loan
54.
Any paid form of communication through mass media directed at identified consumers to provide information and influence their actions
a)
Shadow Pricing
b)
Personal Selling
c)
Target Market
d)
Advertising
55.
The reasons consumers decide what products and services to purchase
a)
Buying Motives
b)
Business Consumers
c)
Promotional Plan
d)
Marketing Orientation
56.
The locations and methods used to make a product or service available to the target market
a)
Intermediary
b)
Distribution
c)
Mass Production
d)
Selling Price
57.
The route a product follows and the businesses involved in moving a product from the producer to the final consumer
a)
Licensing
b)
Franchise
c)
Channel of Distribution
d)
Intermediary
58.
An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders
a)
Promotion
b)
Selling
c)
Distribution
d)
Marketing
59.
A specific group of consumers that have similar wants and needs
a)
Target Market
b)
Promotional Market
c)
Provisional Market
d)
Variable Market
60.
Reasons to purchase based on feelings, beliefs, and attitudes
a)
Rational Buying
b)
Emotional Buying
61.
Buying motives that are guided by facts and logic
a)
Rational Buying
b)
Emotional Buying
62.
Costs to the manufacturer of producing the product or the price paid by other businesses to buy the product
a)
Overhead Costs
b)
Marginal Costs
c)
Product Costs
d)
Royalty Fee
63.
All expenses of operating the business that are associated with the product
a)
Marginal Expenses
b)
Definite Expenses
c)
Promotional Expenses
d)
Operating Expenses
64.
The amount of money available to the business after all costs and expenses have been paid
a)
Net Worth
b)
Profit
c)
Gross Margin
d)
Overhead
65.
The amount added to the cost of a product to set the selling price
a)
Markup
b)
Markdown
66.
The ongoing program of non-paid and paid communications
a)
Public Relations
b)
Mass Promotion
c)
Personal Selling
d)
Social Media Interests
67.
Finding solutions to problems through carefully designed studies involving consumers
a)
Minimal Market
b)
Target Market
c)
Marketing Orientation
d)
Marketing Strategy
68.
The blending of the marketing elements (4 Ps)
a)
Operating Mix
b)
Promotional Mix
c)
Marketing Mix
d)
Target Mix
69.
Persons who buy products and services mostly for their own use
a)
Business Consumers
b)
Final Consumers
c)
Operating Consumers
d)
Decisive Consumers
70.
What is non-paid promotional communication presented by the media rather than by the business or organization that is being promoted?
a)
Public Relations
b)
Social Media Manager
c)
Publicity
d)
Formal Communication
71.
What is an unique identification for a company's product?
a)
Brand Name
b)
Sticker Price
c)
Personal Selling
d)
Franchise
72.
Things that are required in order to live
a)
Renewable Resources
b)
Franchise
c)
Wants
d)
Needs
73.
Things that add comfort and pleasure to your life
a)
Needs
b)
Wants
c)
Renewable Resources
d)
Franchise
74.
Things that you can see and touch
a)
Intermediary
b)
Producers
c)
Goods
d)
Services
75.
Activities consumed at the same time they are produced
a)
Goods
b)
Services
76.
Raw materials supplied by nature
a)
Natural Resources
b)
Capital Resources
c)
Human Resources
77.
Not having enough resources to satisfy every need
a)
Services
b)
Human Resources
c)
Opportunity Cost
d)
Scarcity
78.
The value of the next-best alternative that you did not choose
a)
Tradeoff
b)
Opportunity Cost
79.
Giving up something to have something else
a)
Tradeoff
b)
Opportunity Cost
80.
The resources are owned and controlled by the government
a)
Market Economy
b)
Mixed Economy
c)
Command Economy
d)
Traditional Economy
81.
The resources are owned and controlled by the people of the country
a)
Command Economy
b)
Market Economy
c)
Traditional Economy
82.
Anywhere that goods and services exchange hands
a)
Marketplace
b)
Foreign Exchange Market
c)
Traditional Economy
d)
Intermeidary
83.
A type of economy that combines the elements of the command and market economies
a)
Command
b)
Traditional
c)
Communism
d)
Mixed Economy
84.
What is it called when consumers buy products and vote with their dollar?
a)
Shareholder Proxy
b)
Traditional Vote
c)
Dollar Vote
d)
Opportunity Cost
85.
The quantity of a good or service that consumers are willing and able to buy
a)
Supply
b)
Demand
86.
The quantity of a good or service that businesses are willing and able to provide
a)
Supply
b)
Demand
87.
The point where supply and demand are equal
a)
Marginal Price
b)
Supply Price
c)
Demand Price
d)
Market Price
88.
The total dollar value of all final goods and services produced in a country during one year
a)
Gross Domestic Product
b)
Capital Resources
c)
Imports
d)
Exports
89.
The portion of people in the labor force who are not working
a)
Labor Rate
b)
Unemployment Capita
c)
Unemployment Rate
d)
Management Ratio
90.
The increase in the general level of prices
a)
Deflation
b)
Inflation
c)
GDP Per Capita
d)
Informal Communication
91.
The movement of the economy from one condition to another, and back again
a)
Oligopoly Cycle
b)
Inflationary Cycle
c)
Marginal Cycle
d)
Business Cycle
92.
The cost of money
a)
Interest Rate
b)
Marginal Rate
c)
Inflationary Rate
d)
Democratic Rate
93.
A statement that report the revenue, expenses, and net profit/loss.
a)
Income Statement
b)
Balance Sheet
c)
Financial Records
d)
Accounting Records
94.
A statement that reports assets, liabilities, and owner’s equity.
a)
Income Statement
b)
Balance Sheet
c)
Financial Records
d)
Accounting Records
95.
The value of the owner's investment in the business.
a)
Revenue
b)
Owner's Equity
c)
Liabilities
d)
Assets
96.
Amounts owed by the business to others.
a)
Revenue
b)
Owner's Equity
c)
Liabilities
d)
Assets
97.
A detailed plan for the financial needs of a business.
a)
Revenue
b)
Expenses
c)
Budget
d)
Balance Sheet
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