FBLA BASIC MARKETING FUNDAMENTALS
PROFESSIONAL BUSINESS PREP
QUESTIONS AND ACCURATE ANSWERS
GRADED A+
●● An organization that is owned and operated by its members is a
______
Answer: cooperative
●● A contractual agreement to use the name and sell the products or
services of a company in a designated geographic area is called a
______ .
Answer: franchise
●● If one of your goals is to limit your personal liability, it would be
best to organize your business as a ______ .
Answer: cooperation
●● A business owned by ten people who share the risks and rewards of
the business is a ____
Answer: partnerships
●● 3 c's
,Answer: Capital, Capacity, Character,
●● makes a completely finished product out of raw or processed parts.
Answer: manufacturer
●● packagers
Answer: processor
●● producer
Answer: make the before final product
●● moves finished goods, stores them, and resells them to a wholesaler
Answer: intermediary
●● Which department in a company sets the price of a product?
Answer: marketing
●● The highest level of management in the organization; responsible for
direction and control of the organization as a whole (such as director;
general manager; partner; chief officer and executive manager).
Answer: top level management
●● Responsible for meeting the goals that senior management sets
, Answer: middle management
●● Responsible for monitoring the daily activities of the business
Answer: operational management
●● Which managerial function comes first when executing business
goals?
Answer: planning
●● Which is NOT an aspect of the organizing function?
Answer: creating strategies
●● Which is NOT part of the leadership function for a manager in
charge of a project?
Answer: hiring employees
●● In a large company, to whom would an operational manager
generally report?
Answer: a middle manager
●● the ability to make decisions on your own
Answer: initiative
PROFESSIONAL BUSINESS PREP
QUESTIONS AND ACCURATE ANSWERS
GRADED A+
●● An organization that is owned and operated by its members is a
______
Answer: cooperative
●● A contractual agreement to use the name and sell the products or
services of a company in a designated geographic area is called a
______ .
Answer: franchise
●● If one of your goals is to limit your personal liability, it would be
best to organize your business as a ______ .
Answer: cooperation
●● A business owned by ten people who share the risks and rewards of
the business is a ____
Answer: partnerships
●● 3 c's
,Answer: Capital, Capacity, Character,
●● makes a completely finished product out of raw or processed parts.
Answer: manufacturer
●● packagers
Answer: processor
●● producer
Answer: make the before final product
●● moves finished goods, stores them, and resells them to a wholesaler
Answer: intermediary
●● Which department in a company sets the price of a product?
Answer: marketing
●● The highest level of management in the organization; responsible for
direction and control of the organization as a whole (such as director;
general manager; partner; chief officer and executive manager).
Answer: top level management
●● Responsible for meeting the goals that senior management sets
, Answer: middle management
●● Responsible for monitoring the daily activities of the business
Answer: operational management
●● Which managerial function comes first when executing business
goals?
Answer: planning
●● Which is NOT an aspect of the organizing function?
Answer: creating strategies
●● Which is NOT part of the leadership function for a manager in
charge of a project?
Answer: hiring employees
●● In a large company, to whom would an operational manager
generally report?
Answer: a middle manager
●● the ability to make decisions on your own
Answer: initiative
