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Worksheets7th Grade Business Management Final Exam Study Guide
Total questions: 30
Worksheet time: 15mins
These forms of non-verbal communication are important to promote connection to information. We use these forms of communication to confirm understanding.
Kinesthetics
Visual Representation and Physical Artifacts, such as projects, quizzes, etc.
Environmental Factors
Physical Appearance
In order to show you are receiving the message from the speaker, a good listener will use the appropriate body language and/or gestures such as _______.
eye contact
smiling
nodding
all the above
Companies understand that good communication is important for them to _________.
succeed
run smoothly
increase productivity
all of the above
What are the three types of business communication skills:
Verbal, Nonverbal, and Listening
Nonverbal, Verbal, and Talking
Visual, Listening, Communication
None of the above
A(n) ____ is a written statement of goals and objectives for a business with a strategy to achieve them.
financial statement
summary
business plan/canvas
resume
The top "10" tips for being work-ready include all of the following EXCEPT ______.
Stay calm
Not paying attention
Attitude
Do your best
_______ are investors/partners contribute a lot of capital/money but do not want to participate in the business decisions.
banks
angel/silent investors
investment funds
entrepreneurs
____ are critical skills necessary to perform the required work-related tasks of a position.
Socializing
Job-specific skills and training
Sleeping
Schooling
Which of the following is considered employability skills:
Teamwork
Collaboration
A & B
None of the Above
Soft Skills (employability skills) can be represented by displaying what characteristics?
Communication Skills
Teamwork
Interpersonal Skills
All the Above
Which of the following is an example of Nonverbal Communication:
Writing a novel
Talking
Tapping
Proximity
Which of the following is an example of Verbal Communication:
Sign Language
Tone of Voice
Speaking
All the Above
Which of the following is a key skill for Problem Solving Skills:
Critical Decision Making Skills
Collaboration
Individual Assessment
On the Job Training
CTSO stands for ___________.
Career and Technical Student Organization
Career and Technique Student Organization
Career and Technology Student Organization
Career and Texas Student Organization
The practice of taking someone else's work or ideas and passing them off as one's own is called __________.
trademark
patent
copyright
plagiarism
What Are The Five Functions Of Management?
Planning, Managing, Financing, Leading, Manufacturing
Controlling, Planning, Organizing, Staffing, Leading
Mathematical Skills, Interpersonal Skills, Communication Skills, Leadership Skills
None of the Above
A logo is __________.
a good
a business
a symbol or design used to identify a company, product or service
None of the Above
The four factors of production (as related to economics) are?
Products businesses use to produce other goods
All the tools, equipment, and machinery used to produce goods or provide services
traditional, command, market, and mixed
land, labor, capital, and entrepreneurship
Identify the market forces that impact businesses.
supply and demand
opportunity cost
competition
All of the Above
Determine the breakeven point in this situation...YZ Corporation has calculated that it has fixed costs that consist of its lease, depreciation of its assets, executive salaries, and property taxes. Those fixed costs add up to $60,000. Their product is the widget. Their variable costs associated with producing the widget are raw material, factory labor, and sales commissions. Variable costs have been calculated to be $0.80 per unit. The widget is priced at $2.00 each. (Fixed Costs/Unit-Variable Cost = B/E Point)
$20,000.00
$50,000.00
$2.00
$60,000.00
How does the law of supply and demand affect the market price of a product?
the relationship of the supply of a product and the demand for the product determine the price of the product; higher demand results in higher prices and decreased demand results in lower prices.
Businesses provide products, create markets, and generate economic benefits.
Market forces are economic factors that affect the price, demand, and availability of a good or service. Market forces include supply and demand, the profit motive, and competition.
All of the Above
What are the 4 P's of marketing?
Product, Place, Position, Passage
Proposition, Place, Promotion, Product
Price, Place, Position, Proposition
Product, Price, Promotion, Place
An example of a service is________?
phone
marshmallows
dog food
walking a dog
Why is determining a specific target market important?
The target market is the people most likely to buy the products or services. Selecting the wrong target market means the business loses an opportunity for success.
It helps a business meet its overall goals and objectives. A well-designed strategy first addresses the target market.
System of gathering, storing, and using customer data for marketing directly to customers based on their histories.
None of the Above
__________ segmentation is when you break the market down into groups as it pertains to their values, beliefs, and lifestyle.
Psychographic
Demographic
Geographic
None of the Above
Which of the following statements is TRUE about startup capital?
Startup capital is the money you invest in the form of supplies, marketing, legal services, and other investments to get your business up and running.
Startup capital is the money spent in order to create a balanced budget for your personal finances.
Both A and B
Neither A nor B
What is a variable expense?
An expense that is the same during some months, and different during other months.
An expense that is the same from month to month.
An expense that is different from month to month.
None of the Above
Which of the following is/are a fixed expense(s)?
Building mortgage
Truck insurance
Car payment
All of the Above
An _________ are things owned by a company and which have future economic value that can be measured and be expressed in dollars.
equity
electricity
liability
asset
The accounting equation is?
income = liquidity + liability
liability = assets + owners equity
equity = liability + assets
assets = liability + owners equity
