IB Business Management Higher Level (HL) Practice Test

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• Evaluation or estimation of worth is known as which of the following?
• Which term means all the products that an organization sells?
• Which tool is used to clarify cause-and-effect relationships in problem analysis?
• A group of closely related product items is called
• Changes in the money supply to fight recessions or inflations are referred to as what?
• Hands off. No government intervention in business.
• The forces other people exert on one's buying behavior are called which of the following?
• A thorough, systematic, periodic evaluation of the objectives, strategies, structure, and performance of the marketing organization.
• Which growth strategy involves creating new products for new markets?
• Which promotion is not directly paid-for and often uses incentives to encourage purchases?
• The relocation of business processes and services to a lower-cost foreign location.
• Which term means the evaluation of worth or value of something?
• Which term describes the overall approach of coordinating product, price, place, and promotion to meet customer needs?
• Which term describes minimal government intervention in business operations?
• Which research approach relies on numerical data such as ratings and scales for statistical analysis?
• Stakeholders that work within the business are known as which type of stakeholders?
• Which type of research yields numerical data suitable for statistical analysis?
• Which term best describes a defined group of customers to target with marketing?
• The number of layers of management and supervision existing in an organisation.
• Defining a business in terms of goods and services rather than in terms of the benefits customers seek.
• Which motivational theory is associated with a hierarchy of needs?
• Which marketing approach is characterized by an inward focus on production and product features, assuming customers will buy?
• Which term describes a small market for specialized products?
• Which term describes the process by which a union negotiates with management for a contract?
• Which term describes the number of subordinates reporting to a manager?
• A large company that has operations in more than one country is known as a what?
• Which promotional approach focuses on low-cost, creative tactics to reach the right people in a market area?
• Which term describes the removal of one or more layers from the organizational structure?
• What term is used to describe payment for work performed?
• Which diagram is used to organize the potential causes of a problem into categories such as methods, machines, materials, and manpower?
• Which sampling method deliberately ensures representation by requiring specific characteristics to match population proportions?
• Which concept involves systematic evaluation of the marketing organization's objectives and performance?
• Which pricing approach is based on competitor prices?
• Which term describes basing a marketing strategy on the firm's existing strengths and assets rather than on customer wants?
• Which concept represents the four elements used in planning a marketing strategy?
• What term describes a specific group of consumers with similar wants and needs?
• Strengths, weaknesses, opportunities, and threats form the framework for which analysis?
• A decision by a corporation to turn over much of the responsibility for production to independent suppliers.
• Which pricing policy aims to attract many customers by initial low price?
• Which term refers to growth of a business through mergers or acquisitions?
• Which term describes a broad customer base rather than niche groups?
• Which pricing method uses price endings to make items seem cheaper, such as $0.99?
• The acronym for Political, Economic, Social and Technological factors used to assess the market for a business is called what?
• Which sampling method uses quotas to reflect the characteristics of a population?
• Which term refers to focusing on the capabilities of the product and production rather than customer demands?
• The promotion and selling of products or services.
• Which concept involves delegating production activities to independent suppliers outside the company?
• Which term describes the degree to which decision making is concentrated at a single point in an organization?
• Which costs remain constant regardless of output level?
• Which sampling method relies on existing contacts and referrals and is often non-random?
• Which term refers to the appeasement of disputes between management and employees to maintain industrial peace?
• Which term describes a legal agreement that allows an individual to market a company's products in a specific area?
• Which term means 'Ruling by the people'?
• What is the process of dividing a market into subgroups with distinct needs called?
• Which term is defined as All the products a company has available at any one time?
• Which term refers to the system in which workers' unions bargain with management over terms of employment?
• Which term is a forecast based on averaging past demand?
• Which type of research uses pre-existing data from past studies and sources?
• Which term refers to unnecessary repetition in processes or communications?
• Which type of research relies on non-numeric data collected from field observations and interviews?
• Which term describes moving production processes to a foreign location to reduce costs?
• Which term defines the number of subordinates reporting directly to a supervisor?
• All products that an organization sells are its
• Which term describes a diagram illustrating the position of products against variables such as price, quality, and target market?
• A part of the economy dominated by agriculture, including fishing and forestry, is known as which sector?
• Which term describes a system in which power is concentrated at a single point in the organization?
• Which term describes content targeted at a specific audience segment based on characteristics like age or income?
• What term refers to an organization that exists to provide services rather than to earn profits?
• The quantity of goods and services produced by one worker or by one hour of work.
• Which term describes the degree to which decision-making authority is given to lower levels in an organization's hierarchy?
• Which motivational theory emphasizes autonomy, mastery, and purpose as drivers of performance?
• Which term is government policy that uses taxation and spending to influence the economy?
• Which term describes two common types of organizational chart structures?
• Which term refers to the external forces, such as other people, that influence an individual's buying behavior?
• Which pricing policy involves charging a relatively low price initially to reach the mass market?
• Which practice involves a single entity controlling the entire process of a product, from raw materials to distribution?
• The number of workers who leave a firm each year.
• Which term refers to the sum total of the value of all goods and services produced within a nation?
• Which pricing policy uses low price to gain market share quickly?
• Which term denotes termination of an employment contract due to incompetence or indiscipline?
• What term means making a product different from other similar products?
• Which term describes the combination of two or more companies into a single firm?
• Which leadership style is defined by close employee-centered concern and protective behavior toward staff?
• A written document that acts as a guidebook of marketing activities for the marketing manager.
• Which term describes people being sensitive to a product's price?
• Which form of industrial action involves workers refusing to work in protest against conditions?
• Which pricing policy focuses on gaining market share by starting with a low price?
• All the products a company has available at any one time are its
• Which term means the path through which products or services reach customers?
• Which model analyzes a business's product portfolio by classifying products into stars, cash cows, problem children and dogs?
• Which growth strategy involves selling existing products in new markets?
• Which term describes consumer choices based on supply and demand, price, and availability?
• Which term means 'ruled by the people'?
• Which term describes a monopoly where a company buys out all of its competition?
• Which category of promotion includes paid media such as TV, radio, and print advertising?
• Which term describes the formal line of authority and reporting relationships within an organization?
• A procedure in which a neutral person or panel listens to both sides of a dispute and weighs the evidence to reach a decision is called what?
• Promotion through paid media channels such as TV, radio, and press is categorized as which type of promotion?
• Which portfolio model groups products into stars, cash cows, problem children and dogs?
• Which pricing tactic uses odd pricing to influence buyer behavior?
• What is the term for the end of employment?
• Which leadership style combines protective, employee-centered concern with directive control in a workspace?
• Which term means the removal of several layers of management to flatten the hierarchy?
• Which term describes a partnership formed by two or more firms to pursue a project for a finite period?
• What is the term for the sensitivity of demand to changes in price?
• Which method analyzes the forces for and against making a change?
• Which concept uses marketing techniques to promote social good, such as public health campaigns?
• Which term describes the part of the economy that transforms raw materials into manufactured goods?
• Expansion by merging with or taking over another business is known as what?
• A shirt priced at $19.99 is an example of which pricing tactic?
• Which term describes a long-term plan outlining the overall direction and aspirations of an organization?
• Which policy uses government spending and taxation to influence macroeconomic conditions?
• Which motivational theory advocates pay based on output (piece-rate)?
• In which sampling method does every member of the population have an unknown and random chance of selection?
• What term describes a legal entity that is separate from its owners?
• What term describes unnecessary repetition within processes or communications?
• What term describes a business's concern for society's welfare?
• What term describes the practice of a company buying all of its direct competitors to create a monopoly?
• In the Ansoff Matrix, which growth strategy focuses on existing products in existing markets?
• Which model includes Market Penetration, Market Development, Product Development, and Diversification as growth strategies?
• What term refers to earnings distributed to stockholders?
• Which growth strategy involves selling more of existing products in existing markets?
• Which term is defined as the set of products made by a company?
• Which term describes the use of branding elements like a trade name, symbol, or logo to differentiate a product?
• Which term refers to the set of products made by a company?
• Which term describes the tendency of an economic activity to locate close to its market?
• Which concept is focused on the day-to-day planning for a business process?
• Which motivational theory emphasizes autonomy, mastery, and purpose as key drivers of performance?
• Which term describes growth achieved by expanding through acquiring or merging with another firm?
• The people whose interests are affected by an organization's activities are called what?
• An organization's portion of total industry (sector) sales in a specific market is called?
• A feature or function of a product that makes it different from any other on the market is called a what?
• Which term describes research conducted firsthand for the first time?
• Which practice involves a single company controlling the entire production process from raw materials to distribution?
• A forecast based on average past demand.
• Which approach focuses on creating demand in consumers to pull products through distribution?
• Which term describes the effective management of the formal relationship between the employer and employees?
• Which growth strategy involves developing new products for existing markets?
• Which diagram illustrates the position of products in relation to each other and variables such as price and quality?
• Which term refers to a clearly defined group of customers a business aims to serve?
• Which term refers to using a trade name, symbol, logo or other device to differentiate a product or service?
• Which concept refers to the channels through which products or services are distributed to customers?
• A company wants to target high-income urban professionals with a premium product. Which concept is most relevant?
• Which term means 'absolute in power or authority'?
• Which term describes costs that do not vary with the level of output?
• Which term is defined as the organized effort to gather and interpret information about a market?
• What term describes cash and non-cash rewards paid to workers to motivate them?
• What term describes a long-term strategy for attaining a goal?
• What term is defined as a written or spoken media message designed to interest consumers in purchasing a product or service?
• Which term refers to applying marketing principles specifically to social media platforms to promote products?
• Developing products and promotions to please large groups of people.
• Basing sale price on what competitors charge is known as?
• In the Ansoff Matrix, which growth strategy focuses on new products in new markets?
• What term describes cost advantages arising from large-scale production?
• What term describes reduced sales during the off-season?
• A business whose goal is to provide a service rather than to make a profit, such as the American Red Cross, is called what?
• Deals with the day-to-day or short-term planning for delivery of a business process is referred to as what?
• Which term refers to the number of levels of management in an organization?
• What term describes employees' refusal to work as a form of industrial action?
• Which leadership approach centers on adjusting leadership style to match the needs of employees in different situations?
• Where a business grows naturally without merging or taking over other businesses is described as what?
• A partnership created by two or more companies for a specific purpose over a set period of time is called what?
• What term describes a company that operates in multiple countries?
• Product, Price, Place, Promotion
• What is Competition Pricing?
• Which term refers to the part of the economy that extracts and produces raw materials?
• What term describes making a product different from other similar products?
• What is the term for a strategy aimed at extending the product life cycle after maturity?
• Which pricing tactic uses price endings to influence perception?
• Which motivational theory proposes that needs are arranged in a hierarchical order that motivates behavior as they are satisfied?
• Which term describes the pressures on a business to operate with ethical standards as expected by the general public?
• Which term describes the process of interaction and integration among the people, companies, and governments of different nations, driven by international trade and investment?
• What diagram is used to map decisions and potential outcomes graphically to aid decision making?
• The set of products made by a company is
• Which term describes absolute power or authority?
• Which concept includes the stages Introduction, Growth, Maturity, and Decline?
• Which term best describes growth achieved by expanding existing operations rather than merging?
• What term describes a business owned by the members it serves and managed in their interest?
• What is a Business Plan?