Exam 1: Taking Risks and Making Profits Within the Dynamic Business Environment

Jill is looking into the possibility of opening up a day care centre in her community,because she is aware of many two-income families that need a place for their children to stay while the parents work.However,she is concerned about the long-term prospects for such a business.Jill believes the future of her centre will depend on whether birth rates and the number of two-income families remain high.These concerns illustrate how businesses can be affected by:

The new era of business is likely to be dominated by the:

A Canadian company is said to be outsourcing when it sources part of the purchased inputs from outside of Canada. This is the definition for offshoring.

Tangible products such as computers,food,and cars are examples of:

Successful businesses are keenly focused on their:

The goods-producing sector includes manufacturing,utilities,agriculture,and service

Sue is a mother with two small children.Her employer is asking employees to participate in an experimental telecommuting program.Since Sue has small children,she is unlikely to benefit from this program. Telecommuting allows employees to work from home using computers.This can allow parents to better balance the demands of job and family and reduce the company's cost of office space.Sue may find this type of work arrangement very beneficial.

Information in a database allows firms to carry less inventory and therefore reduce their costs.

Which of the following predictions about the impact of e-commerce on traditional businesses is likely to be most accurate?

What are the main differences between a business and a non-profit organization?

There are no federal privacy laws.E-commerce has existed since the first computers were invented.

When looking at the global environment,one recent change has been:

While the proportion of workers employed in agriculture has remained relatively constant,the average size of farms has steadily decreased over the past century.

When businesses sell to other businesses over the Internet,these transactions are known as:

Public schools,charities and government agencies are not classified as businesses because they:

One reason given for the decline in the number of Canadian workers employed in manufacturing in the late 2000s was the rise in the Canadian dollar.

Technology allows firms to be more responsive to their customers' wants and needs.

Demographic changes create new business opportunities.

___________ means producing items with the least amount of resources.

Mark recently graduated with honours from his college.He has bragged to his friends that his fine academic performance has prepared him so well for a successful career that he can forget school or training in his future.In evaluating the workplace of the future,Mark is: