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8D Basic knowledge Business

Total questions: 100

Worksheet time: 58mins

Name
Class
Date
1.

Goods and services that are necessary for survival. Examples are food, water, clothing and housing

a)

Wants

b)

Needs

c)

Services

d)

Goods

2.

Work performed for others. It cannot be seen or touched but it can be experienced.

a)

Goods

b)

Customer

c)

Labour

d)

Services

3.

The money needed to start a business. It also refers to the buildings, equipment and machinery used to produce goods and services.

a)

Debit card

b)

Credit

c)

Capital

d)

ATM

4.

Someone who buys goods and services from a business.

a)

Labour

b)

Businessman

c)

Workers

d)

Customer

5.

Something made by businesses to satisfy customers’ needs and wants. It can be seen and touched.

a)

Services

b)

Goods

c)

Needs

d)

Wants

6.

Goods and services that are not necessary for our survival but what we wish to have.

a)

Needs

b)

Goods

c)

Services

d)

Wants

7.

The use of business resources to produce goods and services to earn profits

a)

Capital

b)

Machine

c)

Labour

d)

Enterprise

8.

The efforts of the people involved in the production of goods and services

a)

Labour

b)

Land

c)

Enterprise

d)

Capital

9.

Natural resources such as the sea, forest, minerals and petroleum.

a)

Land

b)

Labour

c)

Agriculture

d)

Sea

10.

The are people who take risk to start and run their own business.

a)

Businessman

b)

Entrepreneur

c)

Saler

d)

sale assistant

11.

Which business has invested money in Deliveroo to help the business expand internationally, improve its service and grow the delivery-only kitchens part of the business?

a)

Amazon

b)

Microsoft

c)

Google

d)

Apple

12.

How is a need defined?

a)

Something that adds pleasure and comfort to our lives but isn't necessary for survival.

b)

Something that is necessary for survival.

c)

An intangible activity that someone does for you.

d)

A tangible item that satisfies consumer wants or needs.

13.

What are the primary characteristics of a good?

a)

The item is tangible; exclusive and permanent ownership is obtained.

b)

A good makes you feel good.

c)

Someone else does something to or for you.

d)

Ownership is not obtained.

14.

What are the primary characteristics of a service? There are three correct answers to this question.

a)

Permanent and exclusive ownership is obtained.

b)

Ownership is NOT obtained.

c)

Involves skill and experience

d)

Intangible

15.

What is a consumer? This question has two correct answers.

a)

Someone who buys goods and services

b)

Can be and individual or a company

c)

Any items that a business uses to make goods and services.

d)

The person who works at the store where you buy groceries.

16.

What is the definition of revenue?

a)

Money a business uses to purchase supplies.

b)

The money businesses receive from customers when they buy goods or services.

c)

Money that is invested in a company's future.

d)

Money an employee receives for working for a company.

17.

What is the definition of expense?

a)

Any money spent by a business to buy the capital goods needed to make the goods or deliver the services offered to customers.

b)

Money a business receives from customers for the sale of goods or services.

c)

The internal deliberations of the administrative staff regarding what to have for lunch.

d)

Deciding the color scheme and carpet color for the new office renovations.

18.

If, after applying the profit formula, the net margin is a negative number, the business has suffered a...?

a)

Profit

b)

Expense

c)

Loss

d)

Breakeven

19.
People producing goods & services are called
a)
human resources
b)
natural resources
c)
capital resources
d)
limited resources
20.
Executives spend most of their time on
a)
planning & controlling
b)
planning & organizing
c)
implementing, staffing, & controlling
d)
organizing & implementing
21.
The way a manager treats & involves employees is called
a)
entrepreneurship
b)
influence
c)
management style
d)
leadership
22.
Managers typically spend much of their time dealing with
a)
customers
b)
people from other organizations
c)
other managers in their own organizations
d)
all of these
23.
Mission statements
a)
are the guidelines that direct employees' behavior
b)
describe the reason businesses exist & what they want to accomplish
c)
are written explanations of how specific business ideas will be carried out
d)
are the principles of conduct governing an individual or group
24.
GDP does NOT include
a)
consumer spending for food
b)
the value of the work you do for yourself
c)
gov't spending to pay employees
d)
business spending for equipment
25.
Scrubbles laundry detergent has been on the market for years. The manufacturer recently added a new ingredient to give the detergent extra cleaning power. This is an example of an
a)
improvement
b)
invention
c)
innovation
d)
opportunity cost
26.
What you are selling is called?
a)
Product
b)
Price 
c)
Place
d)
Promotion
27.
The actual cost of the product or service you are selling?
a)
Product
b)
Price
c)
Place
d)
Promotion
28.
Where the consumers can get the product?
a)
Price
b)
Place
c)
Promotion
d)
Product
29.
The activities a business uses to get consumers to buy their products or services.
a)
Product
b)
Promotion
c)
Place
d)
Price
30.
Extra incentives given to employees to keep them from working at another business.  
a)
Salary
b)
Benefits
c)
Resume
d)
Interview
31.
Any paid form of nonpersonal communication that uses mass media to deliver a business's message to their target audience.
a)
Budgeting
b)
Management
c)
Marketing
d)
Advertising
32.
Sally wants to duplicate the first sentence in a paragraph one and insert it as the first sentence in paragraph three instead of retyping the sentence, she would use which formatting features?  
a)
 Copy and paste
b)
 Cut and paste 
c)
  Delete
d)
 Backspace
33.
What is the message of a letter called? 
a)
 Body 
b)
 Complimentary close
c)
 Date line 
d)
 Salutation
34.
When Jennifer’s cursor gets to the end of the last line in a paragraph, what is the BEST way for her to get the cursor to the next line?   
a)
 Just keep typing
b)
 Press the escape
c)
  Press the enter key
d)
  Press the tab key
35.
What are “Times New Roman” and “Arial”? 
a)
  Cursors 
b)
  Fonts 
c)
  Graphics 
d)
  Templates
36.
 If Sandy wants to print a table that has 20 columns and 6 rows, which orientation should she select?  
a)
 Columns
b)
 Landscape 
c)
 Rows
d)
  Portrait
37.
What document type is a formal correspondence sent from a business to another business or to an individual?  
a)
 Academic report
b)
 Business letter
c)
 Flyer
d)
 Minutes
39.
problems a company face
a)
Component
b)
Variable
c)
Employee turnover
d)
Threats
39.
problems a company face
a)
Component
b)
Variable
c)
Employee turnover
d)
Threats
40.
things a company could improve
a)
Opportunities
b)
Unit
c)
Variables
d)
Absenteeism
41.
person that Works for a company
a)
Swot
b)
Employee
c)
Module
d)
Consistency
42.
an employee leaves the company
a)
Turnover
b)
Variable
c)
Component
d)
Opportunities
43.
one thing or product
a)
Weaknesses
b)
Item
c)
Variation
d)
Turnover
44.
different
a)
Opportunities
b)
Variable
c)
Assembly
d)
Employee
45.

Products are:

a)

acts performed for the benefit of others.

b)

goods produced or manufactured to be sold.

c)

things created to be used by people.

46.

A service is:

a)

a product offered in return for payment.

b)

a random act of kindness.

c)

work done for pay that benefits others.

47.

The process of promoting, selling, and distributing a product or service

a)

Advertisement

b)

Business

c)

Marketing

48.

Expenses are

a)

the end-result of selling a product

b)

expensive!

c)

the money spent on supplies & investments

d)

important in setting the price of a product or service

49.

Which of these is an example(s) of a product?

a)

Lawn maintenance

b)

Shoe shining

c)

Candy bars

d)

Car wash

50.

The correct format for the date in a business letter is:

a)

Oct. 3, 2018

b)

October 3, 2018

c)

10/3/18

d)

10-3-18

51.

Which of the following font styles would you NOT use for a business letter:

a)

Arial

b)

Arial Narrow

c)

Times New Roman

d)

Harlow Solid Italic

52.

At the top of a business letter, the company writing the letter usually provides their address and business logo, also known as:

a)

Letterhead

b)

Letter Address or Inside Address

c)

Salutation

d)

Complimentary Close

53.

Below the date, the name and address of the person receiving the letter is called:

a)

Letterhead

b)

Letter Address or Inside Address

c)

Salutation

d)

Complimentary Close

54.

After the body of the letter, you include a statement such as Sincerely or Regards. This is called the:

a)

Signature

b)

Complimentary Close

c)

Initials

d)

Salutation

55.

The initials at the bottom of the letter are from:

a)

The person composing the letter

b)

The person actually typing the letter

c)

The CEO of the company

d)

The company's brand

56.

At work, you may need to use a computer to create

a)

your grocery list

b)

an e-mail to a friend

c)

memos, letters and forms

57.

A memo may be a note from your co-workers or

a)

the IRS

b)

best friend

c)

supervisors

58.

The solid base you build something on is called

a)

future

b)

foundation

c)

portfolio

59.

A legal agreement about your work is called

a)

contract

b)

paycheck

c)

computer

60.

A commission is usually _____ of the total amount.

a)

all

b)

a lot

c)

a percentage

61.

A(n) ________ is a bill that lists goods and prices.

a)

invoice

b)

commission

c)

receipt

62.

Your boss tells you to "expedite the shipment". What does expedite mean?

a)

cancel

b)

do something quickly

c)

look over

63.

Which set of words is spelled correctly?

a)

Busness, writing, company

b)

Business, writting, compagny

c)

Business, writing, company

d)

Buisness, riting, compagnie

64.

Which words are spelled correctly?

a)

Subsidairies, Share holders, Employes

b)

Subsidiaries, Shareholders, Employees

c)

Subsidiaries, Shareholders, Employees.

d)

Subsidaries, Sharehaulders, Employies

65.

Which sentence uses the simple present correctly?

a)

She doesn't work here anymore.

b)

She is not working here anymore.

c)

She has not been working here anymore.

d)

She doesn't working here anymore.

66.
a venture capitalist is...
a)
someone will to risk money on another person's business.
b)
a type of marketing strategy.
c)
someone currently going bankrupt.
d)
A person who starts a business of their own.
67.
Pick the best answer.
Start-up costs can include...
a)
price of advertising
b)
rent for a business location
c)
cost of making your product
d)
all of these answers
68.
The target customer for a new bookbag would be...
a)
teachers
b)
librarians
c)
students
d)
elderly people
69.
Chelsea repairs iphone screens for cash. She works out of her apartment and advertises on social media.  Her target customers are other college students. What is she selling?
a)
iphones
b)
a repair service
c)
iphone screens
d)
advertisements
70.
Chelsea repairs iphone screens for cash.She advertises on social media by saying she can fix your phone for cheaper than the Apple Store.  Her target customers are other college students so she gives them a discount. These are examples of Chelsea's....
a)
marketing strategy
b)
business plan
c)
economics of one unit
d)
partnerships
71.
Chelsea charges customers $150 to fix an iphone. She pays $40 for each replacement screens she puts on a phone. What is her profit from fixing one iphone?
a)
$110
b)
$190
c)
$600
d)
$150
72.

Why do you need a business plan?

a)

To explain your idea

b)

the ability to get financing.

c)

it's a road map that sets objectives and goals for the business

d)

All of the above

73.

What is a business plan?

a)

Written document that only outlines the business practices of the new business.

b)

Written document that describes the financial aspects of the business.

c)

Written document that only describes the ownership of the business.

d)

Written document that describes all the steps necessary for opening and operating a successful business.

74.

Why do you need a business plan?

a)

To explain your idea

b)

the ability to get financing.

c)

it's a road map that sets objectives and goals for the business

d)

All of the above

75.

Money earned for working.

a)

finance

b)

business market

c)

wages

d)

medium of exchange

76.

Any activity related to making a product.

a)

place utility

b)

consumer market

c)

production

d)

non-profit organization

77.
Tell the new employee how to do his  job
a)
Scam
b)
Pyramid scheme
c)
Swindle
d)
Training
78.
Make workers to do their job fast and do a good job.
a)
Staffing
b)
Ponzi scheme
c)
Motivating
d)
Swindle
79.
A lot of people like you
a)
Financial
b)
Well- liked
c)
Monetary
d)
Staffing
80.
Money, land, buildings, people
a)
Financial
b)
Disciplining
c)
Monetary
d)
Asset
81.
Anything to do with money
a)
Managing conflict
b)
Financial
c)
Disciplining
d)
People skills
82.
You can make many jobs
a)
Versatile
b)
Well- rounded
c)
Demotion
d)
Evaluation
83.
The same as well rounded
a)
Versatile
b)
Liability
c)
Appraisal
d)
Demotion
84.
When the manager decides what’s good and what’s bad
a)
Promotion
b)
Appraisal
c)
Liability
d)
Evaluation
85.
Move somebody up in the organization.
a)
Evaluation
b)
Liability
c)
Promotion
d)
Appraisal
86.

The employee was fired but he doesn’t accept it.

a)

Termination

b)

Severance pay

c)

Wrongful dismissal

d)

Feasibility

87.

Normal usual products you have.

a)

Stock

b)

Organizing

c)

Business simulation

d)

Run-of-the-mill

88.

Get the employees together and make divisions

a)

Stock

b)

Organizing

c)

Business simulation

d)

Run-of-the-mill

89.

Company person speaks to the media

a)

Monitor

b)

Liason

c)

Spokesperson

d)

Controlling

90.

Observe something

a)

Monitor

b)

Liason

c)

Spokesperson

d)

Controlling

91.

Looking for something

a)

Just cause

b)

Feasibility study

c)

Dismissal

d)

Research

92.

Write down what you are going to do.

a)

Standard

b)

Commonplace

c)

Planning

d)

Leading

93.

The amount that a good is sold for is known as:

a)

The cost

b)

The price

c)

The profit

d)

The break-even point

94.

What is the first step in the product development process?

a)

Planning

b)

Launching the product

c)

Identifying a market need

d)

Conceptualizing

95.

At the prototyping stage in the product development process:

a)

The product is made and used as a sample in the market.

b)

The product is launched on a large scale

c)

We plan on how the product will be made

96.
A sympathy message should
a)
express sympathy only.
b)
never use the word "death".
c)
give a calm and optimistic look toward the future.
d)
never state the deceased person's name.
97.
Internal communications consist of 
a)
brief, informal messages
b)
long reserved reports
c)
abstracts for the web page
d)
faxed messages
98.
Which of the following expressions is negative and should be avoided?
a)
Thank you for giving us...
b)
You misunderstood...
c)
We are happy to...
d)
An explanation to you is in order...
99.
This is a detailed blueprint of how a company intends to make a product or service, find customers who want to pay for it, and continue to make profits.
a)
401k plan
b)
budget
c)
business plan
d)
bait & switch
100.

1. Which computer part can you point and click with?

a)

Monitor

b)

Keyboard

c)

Mouse

d)

Camera

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