BBI 20 INFORMATION SHEET FOR THE JUNE2012 BUSINESS EXAM
1. The exam is scheduled for Wednesday, June 20 at 9:30 -11:00 a.m. in room #111. Business textbooks will be collected in the student cafeteria at 9:00 a.m. the same day in exchange for a ticket to gain entry to the exam.
2. You are responsible for material covered in class and in your text from chapters 1-6 and 8-10.
3. There are four parts to the exam.
PART Ais made up of multiple choice questions. Record your answers on the exam and on the Scantron card. Bring a pencil! Bring a calculator too.
Use a pen to write the rest of the exam.
PART B asks you to fill in the blanks with the most appropriate word or phrase to complete the thought.
Write on one side of the foolscap.
PART C requires you to define and give examples of business terms. There is some choice given. I will mark the first answers if you answer more than the required amount.
PART D involves short-answer questions. There is some choice given. I will mark the first answers if you answer more than the required amount.
4. Knowledge of the following terms will be of great assistance to you in dealing with the exam as a whole.
business, not-for-profit organization, entrepreneur, consumer, customer, gatekeeper, good, service, factors of production, natural resources, human resources, capital resources, Law of supply, Law of demand, profit, equilibrium price and quantity, break-even analysis, break even point, fixed cost, variable cost, revenue, expenses, solvency, obsolete, decision-making model, Maslow’s Hierarchy of Needs, needs and wants, self actualization, Buyology: Why We Shop, The Breadman: Manoucher Etminan, Modrobes, Post Road Tea Room, International Paper Industries, Bliss Spa, Blast Radius, Mastermind Educational Technologies,values and goals, conspicuous consumption, lifestyle advertising, e-commerce, gross domestic product (GDP), debt financing, equity financing, franchise, franchisee, franchisor, franchise fee, royalty fee, sole proprietorship, unlimited liability, partnership agreement, general partner, limited partner, limited liability, public and private corporation, shareholder, stock exchange,
Crown corporation, cooperative, economic system, free market, pure capitalism, pure command economy, modern mixed economy, private and public sector, privatization, monopoly, business cycles, trough, recovery, peak, recession, depression, inflation, purchasing power, standard of living, exchange rate, return on sales, social responsibility, price fixing, bid rigging, tenders, merger, harmonized sales tax (HST), imports and exports, Bank of Canada, Canadian Radio-television Telecommunications Commission, Competition Act, Organization of Petroleum Exporting Countries, zoning, caveat emptor, big-box store, category killers, disposable income, discretionary income, benefits of competition, research and development, direct and indirect competition, sustainable and non-sustainable competitive advantages, USP (unique selling point/proposition), top-of-the-mind, service competition, value-added service, marketing, push and pull strategies, marketing mix, co-branding, brand name, brand mark, logo, slogan, jingle, trademark, target market, brand image, brand extension, packaging, Food and Drugs Act, Hazardous Products Act, promotion, advertising, media, publicity, public relations, word-of-mouth, sales promotion, producer, manufacturer, wholesaler, retailer, channels of distribution, normal channel of distribution, direct channel of distribution, mass/intensive distribution, selective distribution, exclusive distribution, baby boomers, product life cycle, economies of scale, cash cow, fad, niche market, seasonal market, advertising, market segmentation, geographics, demographics, socio-economics, psychographics, skimming pricing, penetration pricing, cost-oriented pricing, demand-oriented pricing, competition-oriented pricing, odd-even pricing, market share, market research, primary data and secondary data, surveys, test market, focus groups, SWOT analysis, accounting, bookkeeper, Chartered accountant, Certified General accountant, Certified Management accountant, Business Entity Concept, transaction, balance sheet, income statement, asset, current asset, liquidity, fixed asset, accounts receivable, liabilities, accounts payable, maturity, owner’s equity, fundamental accounting equation, working capital, current ratio, cost of goods sold, gross profit, net income, impulse buying, legal tender, gross pay, net pay, department store, discount store, factory outlet, specialty store, supermarket, convenience store, warehouse club, online shopping, budget