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WorksheetsEOY Vocabulary Review Quiz
Total questions: 84
Worksheet time: 45mins
What is the main function of the Human Resources department?
Managing product development
Hiring, training, and handling employee relations
Setting prices for goods
Creating advertising campaigns
When supply equals demand, the market has reached:
Scarcity
Opportunity cost
Equilibrium
Profit margin
Which term describes having limited resources to meet unlimited wants?
Equilibrium
Scarcity
Capital resources
Ethics
Giving up attending a concert to study for an exam is an example of:
Time management
Opportunity cost
Scarcity
Needs vs. wants
Which of the following best represents a need rather than a want?
Designer shoes
Streaming services
Food and shelter
Concert tickets
A student decides to take a part-time job instead of joining a school club. What might they consider when analyzing cost and benefit?
Their favorite color
How to get a trademark
Time gained vs. experiences lost
Which app is most fun
Which is an example of a capital resource?
A tree in the forest
A hammer used by a carpenter
Which of the following is a natural resource?
Factory equipment
Water used to make soft drinks
Marketing plan
Company car
What is a key advantage of a sole proprietorship?
Unlimited liability
Shared decision-making
Easy to start and full control
Limited liability protection
Compared to a sole proprietorship, a partnership allows for:
One person making all decisions
Easier tax filing
Shared responsibility and resources
Higher personal risk
Which business structure provides limited liability and pass-through taxation?
Corporation
Sole Proprietorship
LLC
Franchise
A corporation is owned by:
The founder only
Employees
The government
Shareholders
Why might a company choose to stay private instead of going public?
To avoid decision-making
To keep ownership and control limited
To increase access to stock markets
To have fewer products
Which of the following is a defining trait of a franchise?
All locations are company-owned
Individuals operate using a brand's established model
All profits go to the government
What is the primary goal of a non-profit organization?
Maximize shareholder profit
Provide public entertainment
Serve a mission or cause
Earn franchise royalties
Ethics in business refers to:
Government regulations
Marketing slogans
Principles of right and wrong behavior
Price-setting tactics
How are laws, rules, and ethics different?
They all mean the same thing
Laws are optional, ethics are legal, rules are moral
Laws are enforced legally; rules are internal guidelines; ethics are moral principles
Ethics are enforced in court
Which of the following protects a song or a poem from being copied?
Patent
Trademark
Copyright
Franchise
A logo or brand name is protected by:
Copyright
Patent
Trademark
Ethics
If someone invents a new machine, which protection do they need?
Trademark
Copyright
LLC
Patent
Which leadership style includes input from team members in decision-making?
Autocratic
Democratic
Laissez-faire
Passive
In autocratic leadership, who typically makes decisions?
The team votes
The customers
The leader alone
Human resources
A manager allows employees to work independently without much guidance. This is:
Laissez-faire leadership
Democratic leadership
Autocratic leadership
Ethical management
Which of the following would most likely be found in a mission statement?
A schedule of meetings
The founder's salary
A company’s purpose and goals
Employee birthdates
Which of the following best defines time management?
Making to-do lists
Planning and organizing time effectively
Posting on social media
Keeping a calendar only
Entrepreneurship can best be described as:
Selling items online
Advertising a product
Starting and managing a business
Managing a team at a corporation
In marketing, a product can be a:
Person
Raw material
Good, service, or idea
Business name
Which of the following is a good, not a service?
Haircut
Watching a live show
Pair of sneakers
Tutoring
When a company provides lawn mowing, it is selling:
(a)
Which of these is an example of marketing an idea instead of a good or service?
A nonprofit promoting recycling
A restaurant advertising food
A dentist offering cleanings
A store selling shoes
What is the primary purpose of distribution channels?
To advertise a product
To set prices
To move products from producer to consumer
To design packaging
A company that builds electronics from raw materials is a:
Retailer
Distributor
Manufacturer
Customer
The role of a distributor is to:
Sell directly to consumers
Create product designs
Connect manufacturers to retailers
Advertise products
Which of the following best describes a retailer?
Sells to wholesalers
Sells goods directly to customers
Makes products
Buys raw materials
Who is the final link in the distribution channel?
Manufacturer
Retailer
Wholesaler
Customer
Wholesale means:
Selling at higher prices in small quantities
Selling in bulk at lower prices, usually to retailers
Advertising a product widely
If the production cost of a toy is 4andthesellingpriceis 10, what is the profit?
$4
$6
$10
$14
Selling price is:
How much it costs to make a product
The price paid by the retailer
The amount the consumer pays
The amount of tax added to the cost
Production cost refers to:
The cost of promoting a product
The total cost of making a product
The profit earned on a product
The selling price plus taxes
What is promotion in marketing?
Setting prices for products
Communicating to inform or persuade about a product
Distributing goods
Designing logos
Which is an example of a slogan?
A. A jingle
B. "Have it your way"
C. A logo
D. A newspaper ad
What is the function of a logo?
To explain the company's mission
To offer a product discount
To visually represent a brand
To create music for an ad
Jingles are:
Legal documents
Discount codes
Catchy tunes in advertisements
Brand slogans
Which of these is paid promotion through media?
Public relations
Sales promotion
Advertising
Testimonials
Personal selling involves:
Sending emails to consumers
Posting on social media
Face-to-face sales interaction
Placing an ad in a magazine
Sales promotions are designed to:
Train employees
Encourage long-term brand loyalty
Provide short-term incentives to buy
Replace advertising
Public relations focuses on:
Face-to-face selling
Managing a company’s image
Increasing product cost
Creating jingles
Direct or digital marketing uses:
Retail stores only
Door-to-door sales
Social media and email to reach consumers
Public speaking
A commercial that says "Everyone is using it!" is using what technique?
Glittering generalities
Bandwagon
Card stacking
Testimonial
"You deserve the best" is an example of:
Transfer
Bandwagon
Glittering generalities
Testimonial
Showing a happy family using a product is an example of:
Transfer
Bandwagon
Glittering generalities
Testimonial
A famous athlete promoting shoes is an example of a:
Glittering generality
Testimonial
Transfer technique
Logo design
Card stacking in advertising means:
Using emotion to sell
Listing only the good features of a product
Comparing competitors fairly
Making a product look expensive
A toy company advertising to parents with young children is targeting a:
Distributor
Target market
Sales representative
Manufacturer
Segmenting customers by age and income is called:
Psychographics
Demographics
Behavioral
Geographic
Segmenting by lifestyle or personality is known as:
Geographic
Behavioral
Psychographics
Demographics
Marketing snow boots to people in Alaska is an example of:
Demographic segmentation
Behavioral segmentation
Psychographic segmentation
Geographic segmentation
Offering frequent flyer rewards is an example of:
Behavioral segmentation
Psychographic segmentation
Rational motivation
Choosing a product because it’s on sale and convenient shows which motivation?
Prestige and emotional
Rational and convenience
Patronage and impulse
Impulse and loyalty
If a company owns $500,000 in assets and owes $300,000 in liabilities, what is the owner's equity?
$800,000
$500,000
$200,000
$300,000
What does liquidity measure?
The price of an asset
How quickly an asset can be turned into cash
The interest earned on money
How many stocks are in the S&P 500
Which of the following is an example of owning a part of a company?
Bonds
Capital gains
Stocks
Mutual funds
Bonds are best described as:
Shares in a company
Loans made to an organization
High-risk investments
Tax-free profits
What is a mutual fund?
A loan with low interest
A savings account
A collection of investments pooled from multiple investors
A bond with a guaranteed return
Which term refers to money borrowed and not yet paid back?
Liquidity
Investment
Debt
A person pays 5% extra on a loan. That 5% is called:
Risk
Interest
Dividend
Yield
Dividends are best described as:
Interest on savings
Profits shared with stockholders
The value of assets
Sales of stock
According to the Risk-Reward Rule, if you want a higher return, you must:
Avoid risk
Choose only government bonds
Accept a higher risk
Diversify your portfolio
Which of the following is an example of a capital gain?
Selling a car for the same price you paid
Getting a dividend payment
Selling stock for more than you bought it
Buying a mutual fund
The Time Value of Money means:
A. Money is more useful when saved
B. Inflation has no effect
C. Money now is worth more than money later
D. Interest rates are always stable
The Dow Jones Index includes:
All global companies
30 large U.S. companies
Technology companies
Mutual funds
Which index includes 500 large-cap U.S. companies?
NASDAQ
Dow Jones
S&P 500
NYSE
What makes NASDAQ different from the Dow?
It tracks retail prices
It includes only non-U.S. companies
It focuses on tech companies
It uses international currencies
A bull market is known for:
Falling stock prices
Stable prices
Rising stock prices
No change in prices
In a bear market, prices are generally:
Increasing
Remaining steady
Falling
Rebounding quickly
Diversifying a portfolio is important because it:
Increases the cost of investing
Helps avoid taxes
Reduces overall risk
Guarantees high returns
What is a commission in stock trading?
Bonus for investors
Interest on a loan
Fee paid for executing a trade
Money earned from dividends
What does a ticker symbol do?
Shows the dividend amount
Tracks mutual fund gains
Identifies a stock by its abbreviation
Lists all of a company’s assets
Which of the following describes the opening price?
The highest price ever
The price at the start of the trading day
The value of the stock after dividends
The average weekly price
What is Year-to-Date (YTD) performance used for?
You see a product priced at $2.99 instead of $3.00. This is an example of:
Captive pricing
Bundling
Odd-even pricing
Loss leader
What makes a product a loss leader?
It’s priced high for prestige
It’s sold below cost to attract customers
It includes multiple items in one price
It’s sold online only
A company offers shampoo for $3 or two for $5. What strategy is this?
Captive pricing
Multiple-unit pricing
Prestige pricing
Loss leader
A printer is sold for $50, but ink cartridges are $30 each. This is an example of:
Captive pricing
Bundling
Odd-even pricing
Everyday low pricing
