On-Line Test

South Branch Career and Technical Center

   Introduction to Business and Marketing

Part II      

 

Type your name here.

Type your teacher's name here.

Directions: 1. Read each question carefully;

                      2. read choices a, b, c and d;

                      3. select the correct answer; you may enter ONLY ONE ANSWER;

                      4. using your mouse, place the cursor over the "option button" to the left side of the correct answer. "Left click" the cursor. The center of the option button should become green. If it does not, please ask your instructor for assistance. After the option button becomes green, you have successfully answered the question, and you may move on to the next question.

                     5. When you have finished the test, please re-read and check your answers. When you feel you have done your best, go to  "File" in the upper left hand side of your task bar, select the  "Print" option.  When the print box appears, press OK. Your completed test should begin printing.

True / False

Question 1

An indirect channel of distribution is the process through which goods are bought by the consumer directly from the producer.

a) True
b) False 
c) 
d)

 

Question 2

The terms "capitalism" and "private enterprise" mean the same thing.

a)  True
b)  False 
c) 
d) 

 

Question 3

Competition encourages business owners to improve products.

a) True
b) False 
c) 
d) 

 

Question 4

Displaced workers must adapt to the changing job market in order to have continued employment.

a) True  
b) False 
c)  
d)  

 

Question 5

Prices begin to decline when a product reaches the decline stage.

a) True
b) False 
c) 
d) 

 

Question 6

An entrepreneur usually has the desire to be his / her own boss.

a) True 
b) False 
c)  
d)  

 

Question 7

A successful entrepreneur should be creative.

a) True
b) False 
c) 
d) 

 

Question 8

Food is an example of a fixed weekly expense.

a) True
b) False 
c) 
d)

 

Question 9

EFT is an example of a banking service.

a) True
b) False 
c)  
d)  

 

Question 10

EDP is an example of a banking service.

a)     
b) 
c)  
d)  

 

Question 11

The study of careers is a continuous process because new career opportunities occur.

a) True
b) False 
c) 
d) 

 

Question 12

Demand is the quantity of a product or service that businesses are willing and able to provide.

a)  True
b)  False 
c) 
d)   

 

Question 13

Assets are things of value that a person owns.

a) True
b) False
c)  
d)  

 

Question 14

In a custom-based economy, goods continue to be produced the way they have always been produced from generation to generation.

a)  True
b)  False 
c) 
d) 

 

Question 15

Market economies are generally found in countries that have democratic forms of government.

a)  True
b)  False 
c) 
d) 

 

Question 16

Capital is an example of an owner's equity.

a)  True
b)  False 
c)  
d) 

 

Question 17

When a consumer decides to buy a product, he / she is casting a dollar vote for it.

a)  True
b)  False 
c)
d) 

 

Question 18

Workers in some industries have lost jobs because of international business.

a) True
b) False 
c) 
d) 

 

Question 19

Inflation is a sustained increase in the general level of prices.

a) True
b) False 
c) 
d) 

 

Question 20

The most notable deflationary period in the United States was during the Great Depression of the 1960's.

a) True
b) False 
c)  
d)  

Matching

Question 21

  accounts payable

 A. Asset
accounts receivable B. liability
cash C. owner's equity
equipment  
John Jones, capital  
loan payable  
notes payable  
supplies  

Question 22

  increasing sales & profits starting; new competitors may enter market

 A. decline
 sales and profit start to decrease B. growth
 sales start to level off; more competitors appear; new products compete C. introduction
  the first stage, when product is new and few competitors exist D. maturity

 

Question 23

  business skills available from two or three owners

 A. corporation
 easy to start B. partnership
 owner is the boss C. sole proprietorship
  owner makes all decisions  
  owner receives all profits  
  owners liable up to the amount of their investment  
 ownership transferred through sale of stock  
  two or three sources of capital available  

Multiple Choice

Question 24

Calculate interest on $950 at 9% for 90 days.

a)  $21.38
b)  $21.60 
c)   $213.80 
d)   $45.00 

 

Question 25

Calculate interest on a house at $75,000 at 6.5% for 20 years.

a) $842.00
b) $97,500 
c)  $975,000 
d)  $975.00 

 

Question 26

Calculate interest on $750 at 8% for 60 days.

a) $1.00
b) $1.75 
c)  $10.00 
d)  $100.00 

 

Question 27

Calculate interest on an automobile for $15,000 at 7.5% for 3 years.

a)  $300.00
b)  $33.75 
c)   $337.50
d)   $3375.00 

 

Question 28

Calculate the finance charges on a $25,000 loan at 8.5% interest for 5 years.

a)  $10, 625 
b)  $106.25 
c)   $1062.50 
d)   $120.00 

 

Question 29

A business plan will be useful in which of the following ways:

a)   Planning for amount of time and cost involved in starting a business.
b)   Determining a name for a business.
c)   .Serving as a guide to keep the business on track.
d)    both A and C 

 

Question 30

Calculate the interest on $500 at 6% for 3 months.

a) $17.50
b) $7.50 
c)  $75.00
d)  $750.00 

 

Question 31

Calculate interest on $1200 at 7% for 6 months.

a)   $4.20
b)   $412 
c)   $42 
d)   $420 

 

Question 32

 

a) 
b) 
c)  
d)  

 

Question 33

 

a) 
b) 
c) 
d) 

 

Question 34

 

a)  
b)  
c)  
d) 

 

Question 35

 

a)  
b)   .
c)  
d)  

 

Question 36

 

a)   
b) 
c)
d) 

 

Question 37

 

a)      
b)  
c)  
d)  

 

Question 38

 

a)  
b)  
c)  
d)

 

Question 39

 

a) 
b) 
c) 
d) 

 

Question 40

 

a) 
b) 
c) 
d) 

 

Question 41

 

a)  
b)  
c)  
d)   

 

Question 42

 

a)    
b) 
c) 
d) 

 

Question 43

 

a)    
b)
c)  
d) 

 

Question 44

 

a)  
b)  
c) 
d)

 

Question 45

 

a) 
b) 
c)
d) 

 

Question 46

 

a) 
b) 
c)
d) 

 

Question 47

 

a)  
b)  
c)  
d) 

 

Question 48

 

a) 
b)
c) 
d) 

 

Question 49

 

a) 
b) 
c) 
d)

 

Question 50

 

a) 
b)
c) 
d)