BUSINESS SIMULATION

Name: ____________________________________
Section: _______________

INSTRUCTIONS: Choose the correct answer from the choices below. Write the letter of the correct answer
on the space provided.

_____1. A business or association usually formed to manufacture or supply products or services

for profit.
A. Private Corporation
B. Sole Proprietorship
C. Partnership
D. Company -

_____ 8. Which of the following involves collecting first-hand data?

A. Secondary inquiry
B. Product analysis
C. Primary research -
D. Feasibility study

_____ 9. Ben is conducting a feasibility study for a new venture idea. Which of the following
questions should Ben answer in terms of the venture's financial considerations:.
A. How will the business obtain the money it needs? -
B. What Regulations is the business likely to encounter?
C. Is there a real demand for the idea, good, or service?
D. How will the business communicate information about its products?

_____ 10. What type of primary research that involves open questions between the interviewer &
respondent
A. Surveys
B. Observation
C. Interviews -
D. quotas

_____ 11. What business process of creating relationship with and satisfying customers.
A. Advertisement
B. Marketing -
C. Market Research
D. Market Study

_____ 12. The collection and analysis of information aimed at understanding the behavior of
consumers is called
A. Consumer Focus
B. Market Research
C. Mark forecasting
D. Venture research

_____ 13. he study how individuals, groups and organizations selects, buy, use and dispose of
goods, services, ideas, or experience to satisfy their needs and wants is the meaning of...
A. Consumer market
B. Consumer value
C. Consumer behavior -
D. Consumer decision

_____ 14. what factors influence the characteristics of consumers?

A. Personal and social
B. Cultural and personal -
C. Politic and Social
D. Economy and Polite

_____ 17. What is tactical decisions?

a. Medium-term decisions
B. Long term decision made by senior managers.
C. Short-term decisions made by departmental managers.
D. High-term decisions made by local managers.

_____ 18. How can ICT help with decision making?

A. The decision-making process will be lower because of untrained staff
B. The decision-making process will cost the organization more money
C. The decision-making process will be completed more quickly and efficiently
D. The decision-making process will serve as their strategic plans for business