Vocab quiz: Consumer Math | Quizalize

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Vocab quiz: Consumer Math | Quizalize

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Vocab quiz: Consumer Math

Quiz by Jaclyn McAllister

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Q 1/8
Score 0
a person who buys goods or services
30
consumer
Q 2/8
Score 0
a reduction in price
30
discount

8 questions

Q.

a person who buys goods or services

1

30 sec

Q.

a reduction in price

2

30 sec

Q.

additional money given to a person for performing a service, beyond the cost of the service

3

30 sec

Q.

a percent added onto the final price usually determined by the government

4

30 sec

Q.

certificate that gives a consumer a reduced price

5

30 sec

Q.

part of one hundred, can also be written as a decimal

6

30 sec

Q.

a percentage added to the cost price to determine the selling price to make a profit

7

30 sec

Q.

earnings of a sale, usually a percentage of the total cost

8

30 sec

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I'm wanting to make a vocab quiz using the following 1. Supply chain a) The sequence of activities involved in the production and distribution of a product (Correct) b) The sequence of activities involved in marketing a product (Incorrect - refers to a different aspect of business operations) c) The sequence of activities involved in hiring employees (Incorrect - unrelated to product production) d) The sequence of activities involved in customer service (Incorrect - unrelated to product production) 2. Intermediaries a) Middlemen or brokers who facilitate transactions between two parties (Correct) b) The final consumers of a product (Incorrect - refers to end-users, not intermediaries) c) The employees working at a company's headquarters (Incorrect - unrelated to transaction facilitation) d) The shareholders of a company (Incorrect - unrelated to transaction facilitation) 3. Specialization a) Focusing on a specific task or aspect of production to achieve expertise and efficiency (Correct) b) Expanding business operations to new markets (Incorrect - refers to a different concept) c) Maximizing profits through cost-cutting measures (Incorrect - unrelated to specialization) d) The process of developing new products (Incorrect - unrelated to specialization) 4. Coordination a) Organizing and harmonizing different elements or activities to work together effectively and efficiently (Correct) b) Maintaining independence and autonomy among different departments (Incorrect - opposite meaning of coordination) c) Creating a hierarchical structure within an organization (Incorrect - unrelated to coordination) d) Maximizing competition among employees (Incorrect - unrelated to coordination) 5. Outsourcing a) Hiring external companies or individuals to perform specific tasks or functions (Correct) b) Expanding business operations to international markets (Incorrect - refers to a different concept) c) Merging with other companies to form a larger entity (Incorrect - unrelated to outsourcing) d) Expanding the scope of in-house operations (Incorrect - opposite meaning of outsourcing) 6. Inspection a) Examining and evaluating suppliers, products, or processes to ensure compliance with quality standards (Correct) b) Promoting new products through advertising campaigns (Incorrect - unrelated to inspection) c) Conducting market research to understand customer preferences (Incorrect - unrelated to inspection) d) Developing prototypes for new products (Incorrect - unrelated to inspection) 7. Efficiency a) Accomplishing tasks or goals with minimum waste of time, effort, or resources (Correct) b) Maximizing profits through aggressive pricing strategies (Incorrect - unrelated to efficiency) c) Expanding business operations to new markets (Incorrect - refers to a different concept) d) Streamlining organizational hierarchy through downsizing (Incorrect - unrelated to efficiency) 8. Expertise a) Specialized knowledge or skill in a particular field or area (Correct) b) Broad knowledge across multiple disciplines (Incorrect - opposite meaning of expertise) c) Entry-level knowledge and skills (Incorrect - unrelated to expertise) d) General knowledge applicable to various industries (Incorrect - opposite meaning of expertise) 9. Trend a) General direction or pattern of change or development over time (Correct) b) A one-time occurrence or isolated event (Incorrect - opposite meaning of trend) c) A static and unchanging state (Incorrect - opposite meaning of trend) d) A minor fluctuation in a stable market (Incorrect - unrelated to trend) 10. Demand a) Desire or need for a particular product or service (Correct) b) The quantity of a product produced by a company (Incorrect - refers to supply, not demand) c) The pricing strategy employed by a company (Incorrect - unrelated to demand) d) The promotional activities carried out by a company (Incorrect - unrelated to demand)
Vocab quiz
110.31.b.17.C
Topic: Reading/Vocabulary Development
STAAR English II High School 2014 - Past Paper
110.31.b.1.B
STAAR English I High School 2017 - Past Paper
110.32.b.15.A