WorksheetsBusiness Concepts Quiz
Total questions: 50
Worksheet time: 28mins
Coach Weaver likes Marketing 2A.
Yes
Yes
Anything that can be bought and sold
Product
Service
Customer
Consumers
A physical item that can be touched
Service
Product
Good
Customer
An action or task that is performed, usually for a fee
Product
Service
Good
Customer
An individual or group who buys products
Product
Service
Good
Customer
A science that examines how goods and services are produced, sold and used
Astronomy
Geology
Economics
Chemistry
ALL of a nation's NATURAL resources found in nature
DNR Capital
Land
Gross Domestic Product (GDP)
State
The work performed by people in organizations
Workers
Employees
Boss
Labor
All of the tools, equipment, and machinery used to produce goods and services
Houston Astros
Monopoly
Capital
Accounting
The people who start a new business or purchase an existing business
Explorer
Entrepreneur
Engineer
An organized way in which a nation chooses to use its resources to create goods and services
Economic System
Jumanji
supercalifragilisticexpialidocious
Business
Costs incurred by a business for property or equipment are considered what kind of costs?
Fixed Costs
Acquisition Costs
Negotiated Costs
Operating Costs
__________ __________ refers to a company's ability to turn customers into repeat buyers and prevent them from switching to a competitor.
Segmentation Methods
Customer Referral
Corporate Structure
Customer Retention
What term does the image represent?
Supply Chain
Product Development Cycle
Zoning Variance
Sales Return
Depreciation is:
When the value goes up after buying the product
Not appreciating what you bought for your business
When a product is sent overseas
When the value goes down after buying the product
It is the most liquid element that the company has, that is, it is money.
Brand
Consumer
Cash
It is a form of communication that tries to increase the consumption of a product or service.
Advertising
Business
Digital Strategy
Which photo is an example of a fad?
Which of the following are true of avant-garde fashion? Check all that apply.
They are classic fashion that can be worn everywhere.
Experimental fashion.
Fashion not of the norm.
Fashion from the 1800s.
The dominant type of clothing favored by a large portion of the public at a given time
Style
Fashion
Trend
Garment
Jeans and a t-shirt are an example of what type of fashion?
fad
accessory
classic
The shape of a clothing style
Silhouette
Trend
Fit
Garment
A temporary, passing fashion
Fad
Classic
Avant-Garde
Haute Couture
An item that continues to be popular even though fashions change
Fad
Classic
Avant Garde
Haute Couture
During this stage of the fashion cycle, a style is worn by the most people.
Growth stage
Introductory stage
Peak stage
Decline stage
The periodic return of specific styles and general shapes is known as the
Classic
Fashion cycle
Style
During which stage of the fashion cycle are prices for new trends most expensive?
Decline
Peak
Rise
Introduction
Haute Couture is
very expensive
one of a kind
high fashion
all the above
the direction in which fashion is moving; a style or design that is popular
trend
classic
saturation
obsolescence
All the garments and accessories a person owns is called
Wardrobe
Closet
Collection
Irregulars
Articles of merchandise with slight imperfections that are sold to consumers at reduced prices are called
Ready to Wear
Knock offs
Overruns
Irregulars
The selling of merchandise directly to the consumers is called
Wholesaling
Retailing
Marketing
Merchandising
What kind of fashion is this?
Classic
Avant Garde
Haute Couture
Ready to Wear
This is an example of what?
Wardrobe
Silhouette
Avant Garde
Fad
The process of promoting, selling, and distributing a product or service
Advertisement
Business
Marketing
Revenue - Expenses =
Cost
Sales
Money
Profit
When a business "breaks even" they have done what?
Have more revenue than expenses
Have more expenses than revenue
Have the same amount of revenue and expenses
Which of these is an example of a product?
Lawn maintenance
Shoe shining
Candy bars
Car wash
What is the definition of 'business'?
An activity to make a loss
An activity for entertainment
An activity to satisfy needs
An activity to make a profit
What are 'services' in the context of business?
Intangible commodities that we cannot see, feel, and touch but has the power to satisfy us
Tangible commodities that we can see, feel, and touch
The surplus remaining after total costs are deducted from total revenue
The investment made in a business
What are 'goods' in the context of business?
Intangible commodities that we cannot see, feel, and touch
Money or resources used to start a business
Tangible commodities that we can see, feel, and touch
Services provided by businesses
What is 'capital' in the context of business?
Money or resources used to start as well as sustain the business
The surplus remaining after total costs are deducted from total revenue
The total costs of a business
The total revenue of a business
What is a 'market' in the context of business?
Interaction between buyers and sellers
A place to buy groceries
A place to buy clothes
A place to buy electronics
..............................is a short and memorable phrase used in advertisements.
slogan
rhyme
unique
Define Promotion
Any form of communication a business or organization uses to inform, persuade, or remind.
The number of different product lines a manufacturer or sells
The process of creating, growing, and manufacturing
A business owned and run by two or more people is called...
Partnership
Sole Proprietorship
Corporation
Public speaking and presentation skills improve with practice.
True
False
