Wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

PBMF: Semester Review Units 1-9

Total questions: 77

Worksheet time: 55mins

Name
Class
Date
1.

Place the following steps to the supply chain in the correct order.

a)

Producer

b)

Processor

c)

Manufacturer

d)

Intermediary

e)

Consumer

1)
2)
3)
4)
5)
2.

Match the following work activities to the descriptions.

a)

Change raw goods into a more finished

form for product development

1.

Processors

b)

Move finished goods from one business to

another

2.

Intermediaries

c)

Change raw or processed goods into

finished goods

3.

Manufacturers

d)

Develop products from raw goods for

distribution

4.

Producers

3.

Which department of a business carries out the promotion of goods and services?

a)

Marketing

b)

Production

c)

Finance

d)

Management

4.

Which of the following is defined as a business in which partners have an unequal share and liability in the business?

a)

Limited partnership

b)

Franchise partnership

c)

General partnership

d)

Sole partnership

5.

A system used to record and report financial transactions of a business is known as which of the following?

a)

Accounting

b)

Production

c)

Decision making

d)

Management

6.

Which of the following lists each part of the business cycle?

a)

Growth, Peak, Recession, Trough

b)

Growth, High, Decrease, High point

c)

Growth, Rise, Recession, Trough

d)

Fall, Growth, Trough, Explosion

7.

Which of the following carries out the employment process?

a)

Partnership

b)

Human resources

c)

Marketing

d)

Distribution

8.

Place the following ethical decision-making steps in the correct order.

a)

Defining the problem

b)

Listing and evaluating all solutions

c)

Selecting the best solution

d)

Implementing the solution

e)

Evaluating the decision

1)
2)
3)
4)
5)
9.

​ (a)   is a set of written guidelines which govern behavior based on ethical values.

Choose from the below words
Code of ethics
Labor laws
Common laws
Ethical decision-making
10.

Title VII of the Civil Rights Act focuses on protections against discrimination with regards to __________.

a)

Low-paying jobs

b)

Underage workers

c)

Americans with disabilities

d)

Race, color, religion, sex and national origin

11.

Layla’s son had to have major surgery and he will need her care while he is recuperating. Which of the following legislative acts provides Layla the right to take unpaid leave to take care of her son?

a)

Family and Medical Leave Act

b)

Privacy Act

c)

Americans with Disabilities Act

d)

Federal Trade Commission Act

12.

Which of the following is NOT one of the three main types of economic systems?

a)

Mixed

b)

Diverse

c)

Market

d)

Centrally planned

13.

Which of the following describes the number of goods producers are able and willing to sell at various prices during a specific period?

a)

Price

b)

Supply

c)

Demand

d)

Cost

14.

Which of the following is an incentive for businesses to produce goods and services consumers are willing to purchase?

a)

Government involvement

b)

Loss

c)

Competition

d)

Profit

15.

Which type of economic system allows full freedom to make decisions about employment, expenditures, savings and capital?

a)

Mixed economic systems

b)

Centrally planned economic systems

c)

Tradition economic systems

d)

Market economic systems

16.

Supply and demand are ​ (a)   related.

Choose from the below words
inversely
uniformly
rarely
not
17.

Gross domestic product is the ​ (a)   of an economy’s output.

Choose from the below words
measurement
management
organization
18.

Hakeem is studying the theories, principles and models which deal with the production, distribution and consumption of goods and services. What subject is Hakeem studying?

a)

Economics

b)

History

c)

Finance

19.

Profits ​ (a)   entrepreneurs to take risks.

Choose from the below words
motivate
hinder
discourage
20.

Drag the symbols to the correct position to create a true statement about calculating profit & loss.

total revenues ​ (a)   total expenses ​ (b)   profit or loss

Choose from the below words
-
=
+
*
21.

The United States of America practices __________.

a)

Communism

b)

Strict governmental controls

c)

Capitalism

22.

Select all of the following which are characteristics of specialization.

a)

Allows for global trading

b)

Allows companies to fine-tune production

c)

Can measure the economy’s output

d)

Can increase productivity

23.

__________ create products and services used by other businesses and individuals.

a)

Service businesses

b)

Intermediaries

c)

Professional activities

d)

Producers

24.

__________ are any regulation which restricts international trade.

a)

Political relations

b)

Trade barriers

c)

Exports

d)

Imports

25.

Which of the following are the two major processes which facilitate world trade?

a)

Tariffs and quotas

b)

Cultural forces and economic conditions

c)

Geographical conditions and political forces

d)

Importation and exportation

26.

Which of the following represents the flow of goods and services through varying means of transportation within a single country?

a)

International trade

b)

World trade

c)

Global trade

d)

Domestic trade

27.

Select all the following which are impacts of exports on the United States economy.

a)

Increased productivity of workers

b)

Raised incomes

c)

Decreased unemployment rates

d)

Increased production costs

28.

Which role is China facilitating if they send clothing materials to the United Kingdom for sale?

a)

Exporter

b)

Regulator

c)

Financier

d)

Importer

29.

Select all the following which are advantages of international business for corporations.

a)

Variety of quality and prices

b)

Greater cultural diversity

c)

Improved cultural skills and sensitivity

d)

More choices

30.

__________ are used to punish and deter the behavior of opposition countries without resorting to military force.

a)

Quotas

b)

Tariffs

c)

Subsidies

d)

Embargoes

31.

Match the following types of businesses to their descriptions.

a)

Owners assume all the risk of the business

1.

Sole proprietorships

b)

Are managed by a board of directors

2.

Corporations

c)

Are commonly used to partner with local

business to enter foreign markets

3.

Joint ventures

d)

Do not allow creditors to go after an

individual's personal assets or income if a

partnership fails

4.

Limited liability partnerships

32.

The __________ is the business owner who is licensed to operate a franchise.

a)

Franchisor

b)

Franchot

c)

Francophile

d)

Franchisee

33.

Which of the following would be the most likely driving factor for a company pledging to practice environmental responsibility and engage in ethical behaviors?

a)

Service businesses

b)

The U.S. economy

c)

Business ownership

d)

Corporate Social Responsibility

34.

Nonprofit organizations are designed to better the communities in which they serve.

a)

True

b)

False

35.

Match the following types of research to the descriptions.

a)

Research done first-hand for the first time

1.

Primary Research

b)

Exploratory, in-depth research involving

flexible, open-ended questions

2.

Qualitative Research

c)

Past research which has already been

performed and often published

3.

Secondary Research

d)

Structured research which uses the

scientific method and standardized

questions to make generalizations and

predictions

4.

Quantitative Research

36.

__________ is the activity of promoting and selling a product or service to satisfy a customer’s needs or wants.

a)

Financing

b)

Selling

c)

Distributing

d)

Marketing

37.

Which of the four tools of the marketing mix relates to shipping a product?

a)

Promotion

b)

Price

c)

Place

d)

Product

38.

The most expensive marketing research for a business to engage in is __________.

a)

Primary

b)

Quantitative

c)

Secondary

d)

Surveys

39.

Chen has decided to focus his marketing efforts on people who work in large metropolitan areas. Which method of segmentation is Chen using?

a)

Psychographics

b)

Demographics

c)

Geography

d)

Consumer behavior

40.

What are the four tools of the marketing mix used to sell a product or service to meet consumer wants or needs?

a)

Product, process, price, place

b)

Product, price, place, promotion

c)

Product, price, process, promotion

d)

Product, place, promotion, process

41.

If a business decides to focus marketing efforts on people who love playing baseball, which method of segmentation did they use?

a)

Psychographics

b)

Demographics

c)

Consumer behavior

d)

Geography

42.

Which of the following is considered the Fifth P and includes service-based organizations?

a)

Product

b)

People

c)

Promotion

d)

Place

43.

​ (a)   is the process of managing the identity and perception of a product or service to set it apart from others with an identifiable name, logo or phrase.

Choose from the below words
Branding
Researching
Pricing
Naming
44.

Advertising and marketing are the same and should be used synonymously.

a)

True

b)

False

45.

Which of the following statements best describes the distribution function?

a)

Providing customers with products or services to satisfy their needs or wants

b)

Storing and positioning products or services

c)

Gathering data to understand the market

d)

Communicating the value of products or services

46.

Which of the following represents an additional customer group with characteristics which make them potential users of the product or service?

a)

Market identification

b)

Secondary target market

c)

Primary target market

d)

Mass marketing

47.

Which of the following is the process of dividing a broad target market into distinct groups based on specific characteristics?

a)

Market mitigation

b)

Market segmentation

c)

Market dedication

d)

Market separation

48.

Melody loves the way she looks when she uses a certain brand of hair products. She loves the packaging and branding of the business, and it makes her prefer these products over others. Which of the following market forces is Melody displaying?

a)

Branding

b)

Competition

c)

Customer preference

d)

Supply and demand

49.

The core customer group most likely to engage with and benefit from the product or service is known as which of the following?

a)

Primary target market

b)

Secondary target market

c)

Customer favorites

d)

Core income group

50.

Which of the following target market categories divides customers into segments based on technology use?

a)

Demographics

b)

Psychographics

c)

Technographics

d)

Behavior

51.

Which of the following target market categories divides customers into segments based on personality and lifestyle?

a)

Psychographics

b)

Demographics

c)

Geographics

d)

Behavior

52.

Which of the following is the primary objective of defining target markets for businesses?

a)

Limiting marketing efforts to mass marketing strategies

b)

Reaching a broad and undifferentiated audience

c)

Ignoring specific demographics

d)

Identifying specific segments with unique needs

53.

A home décor store is offering a versatile and affordable furniture line which appeals to a broad customer base. Which of the following types of marketing are they employing?

a)

Mass marketing

b)

Niche marketing

c)

Target marketing

d)

Market segmentation

54.

Which of the following segmentation approaches involves categorizing consumers based on factors such as age, gender, income or education?

a)

Geographic segmentation

b)

Demographic segmentation

c)

Psychographic segmentation

d)

Behavioral segmentation

55.

Gloria asks her customers to complete a survey after each order. Which of the following types of market research is she employing?

a)

Social listening

b)

Data analysis

c)

Supply and demand

d)

Customer feedback

56.

Which of the following is a space or mechanism where buyers and sellers come together to engage in the exchange of goods and services?

a)

A supply

b)

A demand

c)

A market

d)

A product

57.

Clothing, electronics and food are all examples of which of the following?

a)

Services

b)

Products

c)

Buyers

d)

Sellers

58.

Which of the following are standalone webpages, created by companies specifically for marketing and advertising purposes?

a)

Newsletters

b)

Emails

c)

Affiliate search pages

d)

Landing pages

59.

__________ establishes relationships where companies will advertise products from other companies on their social media accounts and websites.

a)

Social media marketing

b)

Advertising

c)

Affiliate marketing

d)

Influencer marketing

60.

The __________ is the ratio of profit to cost and it measures a company’s revenue after subtracting all associated costs.

a)

Breakeven point

b)

Supply

c)

Profit margin

d)

Equilibrium

61.

Match the following pricing terms to their descriptions.

a)

Psychological pricing method stating

certain prices are more appealing to buyers

1.

Odd-Even Pricing

b)

Multiple products are grouped together at a

single price point, rather than being sold

individually

2.

Bundle Pricing

c)

Price is set at or slightly above the average

cost of production

3.

Average-Cost Pricing

d)

Price is adjusted due to location

4.

Geographical Pricing

62.

Match the following terms to their descriptions.

a)

When the supply is greater than the

demand

1.

Surplus

b)

When the demand is greater than the

supply

2.

Shortage

c)

Amount of goods and services available in

the marketplace

3.

Supply

d)

Amount of goods and services consumers

are willing and able to buy

4.

Demand

63.

Select all the following which are content marketing strategies.

a)

Competition

b)

Video marketing

c)

Infographics

d)

Podcasts

64.

Which of the following is a marketing tool used to communicate the value of an offering to a consumer and to influence the consumer to purchase the product?

a)

Price

b)

Promotion

c)

Participation

d)

Product

65.

Which of the following is the point at which sales equal expenses and no revenue is made?

a)

Breakeven point

b)

Profit margin point

c)

Consumer margin

d)

Equilibrium

66.

__________ utilizes real people to promote, speak for and tell the story of a product, service or brand.

a)

Influencer marketing

b)

Advertising

c)

Retargeting

d)

Search engine optimization

67.

Match the following terms to their descriptions.

a)

Someone who sells products to customers

in a store setting

1.

Retailer

b)

Accounts for the purchasing of goods

directly from the manufacturer, often at

lower prices than offered by retailers

2.

Wholesale

c)

Locations where manufacturers distribute

and sell goods through retailers

3.

Retail outlets

d)

Purchasing of goods from a retailer or

vendor who is not the manufacturer

4.

Retail

68.

Match the following terms to their descriptions.

a)

Open-air markets, more commonly found in

areas with warmer climates

1.

Street markets

b)

Involves a salesperson traveling from door

to door attempting to sell a product

2.

Door-to-door retailing

c)

Daily business operated out of a van or

truck includes food trucks and ice cream

trucks

3.

Van retailing

d)

Person hosting an event at a location to

show off products they are attempting to

sell

4.

Party retailing

69.

Select all of the following which are examples of direct marketing channels.

a)

Face-to-face interactions

b)

Social media accounts

c)

Personal websites

d)

Brick-and-mortar stores

70.

Select all of the following which are the goals and objectives of a marketing strategy.

a)

Establishment of a fair price

b)

Creation of identical products

c)

Establishment of a target market

d)

Continuous review and improvement of the plan

71.

Which of the following is a method of buying and selling goods and services using the internet?

a)

Specialty markets

b)

Chain stores

c)

E-commerce

d)

Supermarkets

72.

Which of the following is a strategy for targeting previous visitors of a website who have yet to purchase the productor service?

a)

Content design

b)

Search engine optimization

c)

Retargeting

d)

Content marketing

73.

__________ sell groceries, convenience products and household goods.

a)

Supermarkets

b)

Chain stores

c)

Department stores

d)

Clothing and apparel stores

74.

__________ includes the utilization of content writing, infographics, podcasts and video marketing.

a)

Search engine optimization

b)

Email marketing

c)

Advertising

d)

Content marketing

75.

Which refers to a specific group of customers a company aims to capture?

a)

Intermediaries

b)

Physical distribution

c)

Target market

d)

Manufacturers

76.

Which of the following is the collection and analysis of data about consumers, competition and the environment of a particular target market?

a)

Wholesaling

b)

Direct marketing

c)

Indirect marketing

d)

Market research

77.

__________ is the process of increasing the number of visitors to a company’s website by making the website more visible to search engines.

a)

Content marketing

b)

Retargeting

c)

Search engine optimization

d)

Social media marketing