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 Business Quiz Questions

70.
What did Oliver Pollock create on April 1st 1778, which came in use by the US economy shortly?
Answer

The $ sign to represent the dollar unit

An Irish immigrant, he became a merchant in Lousiana and in his dealings with the Spaniards, Pollock used their currency, the peso. In true Spanish tradition, Pollock used an abbreviation for pesos, yet his penmanship made the abbreviation appear to be the transposition of the letters "p" and "s."

 
69.
The name of which company is supposedly derived from the transcandental god of Zoraastrianism?
Answer

Mazda

It is also said that Mazda coincides with the anglicized pronunciation of the founder's name, Jujiro Matsuda, who was interested in spirituality, and chose to rename it in honor of both his family and the Zoroastrians. Mazda means "wisdom" in the Avestan language. However, in Japanese, the company has always been pronounced and spelled as "Matsuda" leading many to believe that Mazda is really just a poorly anglicized version of the founder's name.

 
68.
What nickname was given to Jack Welch in the 1980's for eliminating employees while leaving the office buildings intact?
Answer

Neutron Jack

In reference to the Neutron bomb that kills people but does not destroy buildings.

 
67.
Appropriately, which company's NYSE symbol is 'BID'?
Answer

Sotheby's, the auction house

Founded in 1744, it is the world's oldest international auction house in continuous operation.

 
66.
Which is the all time bestselling car in the world?
Answer

Toyota Corolla

In 1997, the Corolla became the bestselling car in the world, with over 30 million sold as of 2007.

 
65.
Which Micronesian island houses an 'offshore' detention centre that holds and processes asylum seekers trying to enter Australia?
Answer

Nauru

Nauru is a phosphate rock island, and its primary economic activity since 1907 has been the export of phosphate mined from the island. With the exhaustion of phosphate reserves, its environment severely degraded by mining, the government of Nauru has resorted to unusual measures to obtain income and has given this service to Australia since 2001.

 
64.
Which television channel, that carries programming aimed at young women, was co-founded in 1998 by Oprah Winfrey?
Answer

Oxygen

 
63.
Developed at DuPont in 1965 by Stephanie Kwolek and Roberto Berendt, what is "...5 times stronger than steel on an equal weight basis..."?
Answer

Kevlar

Kevlar has many applications, ranging from bicycle tires and racing sails to body armor because of its high strength-to-weight ratio.

 
62.
Which renowned company based out of California is best known for inventing laser printing, Ethernet, and the graphical user interface (GUI) paradigm, among other things?
Answer

PARC (Palo Alto Research Center, Inc.), formerly Xerox PARC

It was founded in 1970, and incorporated as a separate company (wholly owned by Xerox) in 2002. Xerox has been heavily criticized (particularly by business historians) for failing to properly commercialize and profitably exploit PARC's innovations. The work at PARC in the years since the early 1980s is often overlooked, but major work since then includes ubiquitous computing, aspect-oriented programming, and IPv6.

 
61.
Which company's name comes from a misheard line in "Space Captain," a song by Joe Cocker and Leon Russell? The actual words are "lovely XXX" but Tony Wheeler, the founder, heard "YYY XXX", liked it and decided to name the company thus.
Answer

Lonely Planet

Lonely Planet's first books catered to young people from Australia and Europe (mainly the UK) undertaking the overland hippie trail between Australia and Europe, via South-East Asia, the Indian subcontinent and the Middle East. This was becoming something of a rite of passage for young travellers, especially Australians and New Zealanders, who spent many months (or years) on the journey.

 
60.
Which business was named for a word because the founders liked the word's general definition, as in Gulliver's Travels by Jonathan Swift: "rude, unsophisticated, uncouth." ?
Answer

Yahoo!

It was founded by Stanford graduate students Jerry Yang and David Filo in January of 1994 and incorporated on March 2, 1995.

 
59.
Which popular ice cream was named from two made-up words meant to look Scandinavian to American eyes given that the letter combinations "äa" and "zs" are impossible in all Scandinavian languages?
Answer

Haagen-Dazs

It was established by Reuben and Rose Mattus in The Bronx, New York in 1959.

 
58.
In a 2007 MSN-Zogby International survey of customer service of US companies, which corporation came in last, topping the 'Hall of Shame'?
Answer

Sprint, followed by Bank of America

 
57.
How did Google's famous 'page-rank' algorithm actually get its name?
Answer

From Larry Page, one of the co-founders of Google.

It is a link analysis algorithm which assigns a numerical weighting to each element of a hyperlinked set of documents, such as the World Wide Web, with the purpose of measuring its relative importance within the set. The PageRank process has been patented and is not assigned to Google but to Stanford University.

 
56.
What is the title of the landmark television commercial that launched the Apple Macintosh personal computer in the United States, in January 1984?
Answer

1984

The commercial aired on January 22, 1984 during a break in the third quarter of Super Bowl XVIII. The ad showed an unnamed heroine (played by Anya Major) wearing red shorts, red running shoes, and a white tank top with a Picasso-style picture of Apple's Macintosh computer, running through an Orwellian world to throw a sledgehammer at a TV image of Big Brother — an implied representation of IBM — played by David Graham. This was followed by an on-screen message and accompanying voice over by actor Edward Grover: "On January 24th, Apple Computer will introduce Macintosh. And you'll see why 1984 won't be like 1984." At the end, the Apple "rainbow bitten apple" logo is shown on a black background.

 
55.
In Cuba, what are known as 'Yank tanks'?
Answer

Classic cars

After the Cuban Revolution, the USA imposed an embargo on Cuba, making international trade very difficult. As a result, the cars that were present were nurtured. Due to the presence of many rich US citizens in Cuba under Fulgencio Batista, classic cars were the standard and due to constant good care, many remain in good working order.

 
54.
On January 27, 1984, while filming a commercial for which company in Los Angeles did Michael Jackson suffer second degree burns to his scalp after pyrotechnics accidentally set his hair on fire?
Answer

Pepsi Cola

Happening in front of a full house of fans during a simulated concert, the incident was the subject of heavy media scrutiny and elicited an outpouring of sympathy. PepsiCo settled a lawsuit out of court, and Jackson gave his $1.5 million settlement to the Brotman Medical Center in Culver City, California, where he had been treated, allowing the hospital to acquire the best available technology for treating severe burns; Brotman subsequently renamed its burn ward "Michael Jackson Burn Center" in his honor.

 
53.
Which system developed in the early 1940s has since been updated and modified extensively and has since been the primary source of audience measurement information in the television industry around the world?
Answer

Nielsen Ratings

Since television as a business makes money by selling audiences to advertisers, the Nielsen Television Ratings are the single most important element in determining advertising rates, schedules, and program content. Nielsen Television Ratings are gathered by one of two ways; by extensive use of surveys, where viewers of various demographics are asked to keep a written record (called a diary) of the television programming they watch throughout the day and evening, or by the use of Set Meters, which are small devices connected to every television in selected homes.

 
52.
What is the name given to a fraudulent investment operation that involves paying abnormally high returns ("profits") to investors out of the money paid in by subsequent investors, rather than from net revenues generated by any real business?
Answer

Ponzi scheme

The system is doomed to collapse because there are little or no underlying earnings from the money received by the promoter. The scheme is named after Charles Ponzi, who became notorious for using the technique after emigrating from Italy to the United States in 1903. Ponzi was not the first to invent such a scheme, but his operation took in so much money that it was the first to become known throughout the United States.

 
51.
Named for U.S. Representative Eugene James Keogh of New York and sometimes called HR10 plans, what are Keogh Plans?
Answer

Full-fledged pension plans for self-employed people in the United States.

 
50.
Which American businessman founded Electronic Data Systems (EDS) in 1962 and later sold the company to General Motors?
Answer

Ross Perot

He is best known for seeking the office of President of the United States in 1992 and 1996. With an estimated net worth of around $4.3 billion as of 2006, he is ranked by Forbes as the 57th-richest person in America.

 
49.
Which legal term describes a brand name that has become synonymous with a particular class of products and whose examples include Scotch Tape, Frisbee, Xerox and Band-Aid?
Answer

Genericized Trademark

The term is legally significant in that unless a company works sufficiently to prevent such broad use of its trademark, its intellectual property rights in the trademark may be lost. A trademark typically becomes "genericized" when the products or services with which it is associated have acquired substantial market dominance or mind share.

 
48.
Which company was responsible for the Bhopal disaster in 1984, frequently cited as the world's worst industrial disaster?
Answer

Union Carbide

On December 3, 1984, a Union Carbide subsidiary pesticide plant released 40 tonnes of methyl isocyanate (MIC) gas, immediately killing nearly 3,000 people and ultimately causing at least 15,000 to 22,000 total deaths.

 
47.
In 1914, which company offered the first charge card for consumers, which were precursors to the current day credit cards?
Answer

Western Union

These early cards were issued to preferred company customers to offer them an array of special services, including interest-free deferred payments.

 
46.
Which company manufactures the SM-3 anti-ballistic missile one of which was used to destroy the satellite USA 193 on Feb 21, 2008?
Answer

Raytheon

 
45.
In the 2006 list of cities with Fortune Global 500 companies, which city topped with 52 companies?
Answer

Tokyo

Followed by Paris with 27, and New York with 24.

 
44.
The children's literature section of the publisher Penguin Books are distributed under what name?
Answer

Puffin Books

 
43.
In 1984, the Gillette Company reportedly offered members of which rock band $1 million dollars apiece to shave their beards for a television commercial (but they declined)?
Answer

Billy Gibbons and Dusty Hill of ZZ Top

Gibbons and Hill are always pictured wearing sunglasses (a nod to their 1979 song "Cheap Sunglasses"), similar if not matching clothing, and their trademark chest-length beards. The other member, Frank Beard sports a mustache, but rarely a beard.

 
42.
Which cartoon character, created by Joanna Ferrone and Sue Rose, was licensed to Pepsico in the 1980s?
Answer

Fido Dido

 
41.
Marshall McLuhan was named as the "patron saint" of which Magazine that also had his quote on its masthead for the first ten years of its publication?
Answer

Wired

'Wired' has both been admired and disliked for its strong libertarian principles, its enthusiastic embrace of techno-utopianism, and its sometimes experimental layout with its bold use of fluorescent and metallic inks.

 
40.
Who is the largest single-site employer in the United States with more than 3,000 job classifications?
Answer

Walt Disney World Resort

Today it employs more than 61,000, spending more than $1.1 billion on payroll and $478 million on benefits each year.

 
39.
The 0 scale (or 0 gauge) is a scale commonly used for which type of toy/hobby that is also associated with the company Lionel?New!
Answer

Toy trains (model railroading)

Lionel, LLC is a designer and importer of toy trains and model railroads, based in Chesterfield Township, Michigan. Its roots lie in the 1969 purchase of the Lionel product line by cereal conglomerate General Mills. According to its reorganization papers filed as part of its bankruptcy plan on May 21, 2007, about 95 percent of the company's sales come from O gauge trains. The plan estimated that about $70 million worth of O gauge trains are sold each year, and that Lionel accounts for about 60% of that market, making it the largest manufacturer of O gauge trains.

 
38.
In business, who/what is the "marzipan layer"?
Answer

Group of managers just below the highest level of directors.

This phrase refers to the fact that in some cakes, a layer of marzipan lies just below the icing.

 
37.
Fluid catalytic cracking (FCC) is the most important conversion process used in petroleum refineries. What is it used for?
Answer

To convert petroleum crude oils to more valuable gasoline, olefinic gases and other products.

The FCC process vaporizes and breaks the long-chain molecules of the high-boiling hydrocarbon liquids into much shorter molecules by contacting the feedstock, at high temperature and moderate pressure, with a fluidized powdered catalyst. In effect, refineries use fluid catalytic cracking to correct the imbalance between the market demand for gasoline and the excess of heavy, high boiling range products resulting from the distillation of crude oil.

 
36.
By repute, what/where is the largest gold repository in the world?
Answer

The Federal Reserve Bank of New York in Manhattan

This cannot be confirmed as Swiss Banks do not report their gold stocks. The FRBNY's stocks are larger even than Fort Knox, and it holds approx 5,000 tonnes of gold bullion ($90 billion worth at 2007 prices). The gold is owned by many foreign nations, central banks and official international organizations. The Federal Reserve Bank does not own the gold but serves as guardian of the precious metal, which it "protects" at no charge as a gesture of good will to other nations.

 
35.
In Business Week's ranking of top global brands, what are the only 3 non-American companies in the top 10?
Answer

Nokia (Finland,6th), Toyota (Japan,7th) Mercedes-Benz (Germany,10th).

Coco-Cola, Microsoft and IBM occupied the first 3 positions.

 
34.
Which company is the largest exporter of the United States?
Answer

Boeing

In 2006 it took 55% of global commercial aircraft orders for the first time since 2000. Boeing also continues to serve as the prime contractor on the International Space Station and has built several of the major components.

 
33.
How do we know Bibendum better?
Answer

As the Michelin Man

The symbol was introduced in 1898 by French artist O'Galop (pseudonym of Marius Rossillon), and is one of the world's oldest trademarks. André Michelin apparently commissioned the creation of this jolly, rotund figure after his brother, Édouard, observed that a display of stacked tyres resembled a human form. Today, Bibendum is one of the world's most recognized trademarks, representing Michelin in over 150 countries.

 
32.
In October 2006, which advertising icon did USA Today list as #1 on their list of 'Imaginary Luminaries: the 101 most influential people who never lived.'?
Answer

The Marlboro Man

The Marlboro Man was first conceived by Leo Burnett in 1954. The ads were originally conceived as a way to popularize filtered cigarettes, which at the time were considered feminine.

 
31.
Which soft drink created in 1929 by Charles Grigg was originally named "Bib-Label Lithiated Lemon-Lime Soda", and was launched two weeks before the Wall Street Crash?
Answer

7 Up

 
30.
Which company's name was contrived by Esso (Standard Oil of New Jersey) in the early 1970s to create a distinctive label, but was initially dubbed "the double cross company" because of the way the name was spelt?
Answer

Exxon

 
29.
In the world of business, what phrase describes the process of a product becoming non-functional after a certain period or amount of use in a way that is designed by the manufacturer?
Answer

Planned Obsolescence

Planned obsolescence has potential benefits for a producer because the product fails and the consumer is under pressure to purchase again, whether from the same manufacturer (a replacement part or a newer model), or from a competitor which might also rely on planned obsolescence. Planned obsolescence was first developed in the 1920s and 1930s when mass production had opened every minute aspect of the production process to exacting analysis.

 
28.
Which influential author of 'Economics: An Introductory Analysis' the largest-selling economics textbook of all time, is also the first American to win the Nobel prize for Economics?
Answer

Paul Samuelson

Economic historian Randall E. Parker calls him the "Father of Modern Economics", and The New York Times considered him to be the "foremost academic economist of the 20th century."

 
27.
Which automakers' name derives from the Latin for 'I Roll'?
Answer

Volvo

 
26.
Harald X Gromson was the king of Denmark in the AD900's who is regarded as having united Denmark, Norway, and Sweden under a single king. How is his name popular in the technological world (X in his name)?
Answer

As Bluetooth

Bluetooth is an industrial specification for wireless personal area networks (PANs) that provides a way to connect and exchange information between devices.

 
25.
George Bailey, the character portrayed by James Stewart in Frank Capra's "It's a Wonderful Life", is loosely based upon which banker who was the founder of Bank of America?
Answer

Amadeo Giannini (1870 - 1949)

Giannini is credited as the inventor of many modern banking practices. Most notably, Giannini was one of the first bankers to offer banking services to middle-class Americans, rather than simply the upper class.

 
24.
Which shoe brands' success is closely associated with the aerobics fitness craze?
Answer

Reebok

Reebok surged in popularity in 1982 after the introduction of the Freestyle athletic shoe, which was specifically designed for women and came out when the aerobics fitness craze started. Reebok continues to produce the Freestyle to this day as it is popular with cheerleading, aerobic dancing, the gym, and dedicated consumers.

 
23.
Which device, now known by the name of its Japanese version, was released in 1979 with the name of 'Soundabout' outside Japan?
Answer

The Walkman

The device was created by audio division engineer Nobutoshi Kihara for Sony co-chairman Morita, who wanted to be able to listen to operas during his frequent transpacific plane trips.

 
22.
From the Arabic for "to make known", what is the correct term for a duty imposed on foreign goods?
Answer

Tariff

 
21.
What name was given to a group of economists who were consulted by Augusto Pinochet of Chile to formulate his economic policy?
Answer

Chicago boys

The Chicago Boys (c. 1970s) were a group of about 25 Chilean economists working under the Augusto Pinochet administration to create a free market economy and decentralize economic and ultimately political power.

 
20.
Which economic theory that was the dominant school of thought throughout the early modern period (from the 16th to the 18th century) holds that the prosperity of a nation is dependent upon its supply of capital, and that the global volume of international trade is "unchangeable."?
Answer

Mercantilism

Economic assets or capital, are represented by bullion (gold, silver, and trade value) held by the state, which is best increased through a positive balance of trade with other nations (exports minus imports) and assumes wealth and monetary assets are identical. Mercantilism suggests that the ruling government should advance these goals by playing a protectionist role in the economy; by encouraging exports and discouraging imports, notably through the use of tariffs and subsidies.

 
19.
In Economics, what is 'Monopsony'?
Answer

Market form with only one buyer, as opposed to Monopoly

The term "monopsony" was first introduced by Joan Robinson. Good example is the Arms Industry, where the government is the only buyer.

 
18.
In 2006, who posed with a nude Scarlett Johansson and Keira Knightley on the cover of Vanity fair?
Answer

Tom Ford

Ford was the guest editor for the February 2006 Hollywood edition of Vanity Fair and the cover was originally planned to showcase Keira Knightley, Scarlett Johansson, and Rachel McAdams. But McAdams was replaced with a clothed Ford after refusing to appear nude.

 
17.
Nike's Air Jordan XIX (19) basketball shoe's design was reportedly inspired by which creature?
Answer

The Black Mamba

 
16.
Dean Kamen, the inventor of which self-balancing transportation device holds that "walking is a remnant of the Dark Ages, an unpleasant time-waster that technology needs to eradicate"?
Answer

The Segway PT

The Segway resembles the motorized, gyroscopically stabilized unicycles in the science fiction short story by Robert A. Heinlein titled "The Roads Must Roll".

 
15.
Which 400-year-old German dynasty from Essen have become famous for their steel production and for their manufacture of ammunition and armaments and have been known as the "Arsenal of the Reich"?New!
Answer

The Krupp family

 
14.
The American businessman Orville Redenbacher is most commonly associated with which popular snack item that bears his name?
Answer

Popcorn

His brand of popping corn continues to be among the most popular in the United States. 2005 marked the 40th anniversary of Orville Redenbacher's Gourmet Popping Corn, still the #1 selling brand in America.

 
13.
Oliver Stone stated in the special features of DVD release of the movie 'Wall Street' starring Michael Douglas that the movie is a close parallel to which American financier best known as the "Junk Bond King" of 1980s era Wall Street?
Answer

Michael Milken

He was highly influential in developing the market for junk bonds during the 1970s and 1980s, which in turn fueled the 1980s boom in corporate raids and hostile corporate takeovers. He has been called both a financial innovator and the epitome of 1980s Wall Street greed.

 
12.
Located in Northern Ireland, what is the oldest licensed whiskey distillery in the world?
Answer

Old Bushmills Distillery

Despite a lack of historical evidence, it is believed that troops of King Henry II enjoyed the taste of Bushmills some 400 years before the distillery became officially licensed in 1608 by King James I. In 1784 the Bushmills Distillery became an officially registered company. From 1740 to 1910 Irish emigrants to the USA spread the word of Bushmills, and it soon became a huge success at international spirit and whiskey competitions.

 
11.
In Japan, what term is given to a set of companies with interlocking business relationships and shareholdings, akin to a business group?
Answer

Keiretsu

There are two types of keiretsu: vertical and horizontal. Vertical keiretsu illustrates the organization and relationships within a company, while a horizontal keiretsu shows relationships between entities, normally centred around a bank and trading company. There are currently 6 major ones and a host of minor ones.

 
10.
In the late 1990's while Shawn Fanning was attending Northeastern University in Boston, he wanted an easy method of finding music and thereby created what?
Answer

Napster

The popularity and repercussions of the first Napster have made it a legendary icon in the computer and entertainment fields. Napster's brand and logo continue to be used by a pay service, having been acquired by Roxio.

 
9.
In a 2006 commerical for Genworth Financial, a little boy more than matches the former professional player Taylor Dent in a tennis game. At the end of the ad, the boys parents pick him up. Can you guess who they are?
Answer

Agassi and Graf!

Dent won 4 ATP singles titles during his career. During a talk at the Nick Bollettieri Tennis Academy, Dent confirmed that injuries have forced him to retire from the professional game, much to the disappointment of many tennis fans who believed that Taylor Dent was the last pure Serve-and-Volley player remaining on the professional tour.

 
8.
What is the largest oil corporation in the world and the world's largest in terms of proven crude oil reserves and production?
Answer

Saudi Aramco, the state-owned national oil company of Saudi Arabia.

Headquartered in Dhahran, Saudi Arabia, Saudi Aramco also operates the world's largest single hydrocarbon network, the Master Gas System. It was formerly known as just Aramco, an acronym for Arabian American Oil Company.

 
7.
What is the term given to a retail store in which manufacturers sell their stock directly to the public through their own branded stores, the invention which is often credited to Harold Alfond, founder of the Dexter Shoe Company?
Answer

Outlet store (or) Factory outlet

The stores can be brick and mortar or online. Traditionally, a factory outlet was a store, attached to a factory or warehouse.(http://en.wikipedia.org/wiki/Factory_outlet_store)

 
6.
After Korean Air Lines Flight 007 was shot down in 1983 after straying into the USSR's prohibited airspace, President Ronald Reagan issued a directive making this freely available for civilian use as a common good. What?
Answer

GPS (Global Positioning System)

Developed by the United States Department of Defense, it uses a constellation of between 24 and 32 Medium Earth Orbit satellites that transmit precise microwave signals, which enable GPS receivers to determine their current location, the time, and their velocity. Its official name is NAVSTAR GPS.

 
5.
Which brand of Volkswagen was named after a wind that blows from the Sahara?
Answer

Scirocco (after Sirocco)

It is a sport compact produced by Volkswagen from 1974 through 1992. The model was highly successful, and helped bolster VW's reputation. It will be revived with a third generation in 2008.

 
4.
A colloquial principle of hierarchiology, what states "In a hierarchy every employee tends to rise to his level of incompetence."?
Answer

The Peter Principle

Formulated by Dr. Laurence J. Peter in his 1968 book of the same name, the Peter Principle pertains to the level of competence of the human resources in a hierarchical organization. The principle explains the upward, downward, and lateral movement of personnel within a hierarchically organized system of ranks.

 
3.
Doug Engelbart, an American inventor of Swedish and Norwegian descent is best known for inventing (in a joint effort with Bill English) which ubiquitous computing device?
Answer

The computer mouse

In 1967, Engelbart applied for, and in 1970 he received a patent for the wooden shell with two metal wheels, describing it in the patent application as an "X-Y position indicator for a display system". Engelbart later revealed that it was nicknamed the "mouse" because the tail came out the end. His group also called the on-screen cursor a "bug," but this term was not widely adopted. He never received any royalties for his mouse invention, partly because his patent expired in 1987, before the personal computer revolution made the mouse an indispensable input device, and also because subsequent mice used different mechanisms that did not infringe upon the original patent. During an interview, he says "SRI patented the mouse, but they really had no idea of its value. Some years later I learned that they had licensed it to Apple for something like $40,000."

 
2.
How is Douglas Hofstadter's book 'Fluid Concepts & Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought' significant for Amazon.com?
Answer

It was the first book sold by Amazon on July 15, 1995

 
1.
Headquartered in Sandy Springs, Georgia, USA, which company is the world's largest package delivery company, delivering more than 15 million packages a day in over 200 countries?
Answer

United Parcel Service Inc. commonly referred to as UPS

UPS is well known for its brown trucks, internally known as package cars (hence the company nickname "The Big Brown Machine").

 
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