Question 1

Globalization has greatly ______________.

Accepted Answer

A) declined 
B) hurt consumers 
C) improved living standards around the world 
D) reduced the number of jobs worldwide 
A) declined 
B) hurt consumers 
C) improved living standards around the world 
D) reduced the number of jobs worldwide

Question 2

The Buckmaker Corporation generated total revenues of $30 million dollars while incurring expenses of $17 million.Therefore,during the year Buckmaker Corporation earned a profit of $13 million.
The profit a firm earns is found by subtracting total costs from total revenue.

Accepted Answer

A) True 
 B)False

Question 3

There are two major types of e-commerce transactions: business-to-consumer (B2C)and business-to-business (B2B).Explain the difference between B2C and B2B.Which is more important?

Accepted Answer

B2B consists of selling goods

Question 4

Two important global environment changes in recent years have been the growth of global competition and the decline of free trade.

Accepted Answer

A) True 
 B)False

Question 5

The subprime mortgage scandal shows:

Accepted Answer

A) the risk of investing in real estate. 
B) the increased strength of the Euro and the European market. 
C) the continued weakness of Canada's Asian trading partners. 
D) the impact of corporate scandals on investor confidence. 
A) the risk of investing in real estate. 
B) the increased strength of the Euro and the European market. 
C) the continued weakness of Canada's Asian trading partners. 
D) the impact of corporate scandals on investor confidence.

Question 6

Maintaining a high quality of life requires the combined efforts of businesses,nonprofit organizations and volunteer groups.

Accepted Answer

A) True 
 B)False

Question 7

Because capital - machinery and tools - are now becoming available in world markets,it is the critical element for wealth creation.

Accepted Answer

A) True 
 B)False

Question 8

The loss of farm workers over the last century is what?

Accepted Answer

A) a negative sign 
B) an indication of growing productivity 
C) going to reverse in the future 
D) a symptom of global competition 
A) a negative sign 
B) an indication of growing productivity 
C) going to reverse in the future 
D) a symptom of global competition

Question 9

Census studies indicate that about ________ percent of the Canadian population was foreign-born.

Accepted Answer

A) 35 
B) 80 
C) 5 
D) 20 
A) 35 
B) 80 
C) 5 
D) 20

Question 10

The book Boom Bust & Echo economist David Foot suggests that ________ explains about two-thirds of everything,including what products will be in demand in five years.

Accepted Answer

A) demographics 
B) knowledge 
C) capital 
D) E-commerce 
A) demographics 
B) knowledge 
C) capital 
D) E-commerce

Question 11

Since the beginning of the 1900s,the agricultural sector of Canada has:

Accepted Answer

A) seen the number of family farms more than double. 
B) become less and less competitive in the global economy. 
C) produced a consistent output per farm. 
D) experienced a big drop in employment,mainly because of tremendous improvements in efficiency. 
A) seen the number of family farms more than double. 
B) become less and less competitive in the global economy. 
C) produced a consistent output per farm. 
D) experienced a big drop in employment,mainly because of tremendous improvements in efficiency.

Question 12

Those individuals born in Canada between 1947 and 1966 are referred to as:

Accepted Answer

A) baby boomers. 
B) Generation Xers. 
C) echoes. 
D) diversity workers. 
A) baby boomers. 
B) Generation Xers. 
C) echoes. 
D) diversity workers.

Question 13

World trade has grown in part because of the development of efficient distribution systems.

Accepted Answer

A) True 
 B)False

Question 14

Few issues have captured the attention of the international business community more than what?

Accepted Answer

A) profits 
B) management change 
C) demography 
D) climate change 
A) profits 
B) management change 
C) demography 
D) climate change

Question 15

Which of the following organizations would be considered a business and not a nonprofit organization?

Accepted Answer

A) Boy Scouts. 
B) United Church of Canada. 
C) Crescent private school. 
D) Red Cross. Private schools are run for a profit and are thus considered a business. 
A) Boy Scouts. 
B) United Church of Canada. 
C) Crescent private school. 
D) Red Cross. Private schools are run for a profit and are thus considered a business.

Question 16

People born in Canada between 1980 and 1995 are referred to as:

Accepted Answer

A) baby boomers. 
B) Generation Xers. 
C) baby-boom echoes. 
D) diversity workers. 
A) baby boomers. 
B) Generation Xers. 
C) baby-boom echoes. 
D) diversity workers.

Question 17

Identity theft occurs when a robber personally knows their victim.
Identity theft is the obtaining of personal information about a person,and using that information for illegal purposes.

Accepted Answer

A) True 
 B)False

Question 18

Currently,about what percent of all families in Canada are supported by two income earners?

Accepted Answer

A) 24% 
B) 34% 
C) 44% 
D) 54% 
A) 24% 
B) 34% 
C) 44% 
D) 54%

Question 19

Which of the following age groups is expected to grow in the future?

Accepted Answer

A) age 0-4 
B) age 5-19 
C) age 35-64 
D) age 65 and above 
A) age 0-4 
B) age 5-19 
C) age 35-64 
D) age 65 and above

Question 20

Johnsonville is a small and poor nation,but its current president has a genuine desire to create more wealth for Johnsonville's citizens.The president has received recommendations from several of her advisors.Which of the following recommendations is likely to create the most wealth for Johnsonville?

Accepted Answer

A) acquire more land by invading a neighboring country that is even poorer and weaker than Johnsonville. 
B) use foreign aid from other nations to purchase more tools and machinery. 
C) establish a business environment that promotes and rewards entrepreneurship. 
D) establish barriers to trade to protect Johnsonville businesses from foreign competition. 
A) acquire more land by invading a neighboring country that is even poorer and weaker than Johnsonville. 
B) use foreign aid from other nations to purchase more tools and machinery. 
C) establish a business environment that promotes and rewards entrepreneurship. 
D) establish barriers to trade to protect Johnsonville businesses from foreign competition.

Globalization has greatly ______________.

The Buckmaker Corporation generated total revenues of $30 million dollars while incurring expenses of $17 million.Therefore,during the year Buckmaker Corporation earned a profit of $13 million. The profit a firm earns is found by subtracting total costs from total revenue.

There are two major types of e-commerce transactions: business-to-consumer (B2C)and business-to-business (B2B).Explain the difference between B2C and B2B.Which is more important?

Two important global environment changes in recent years have been the growth of global competition and the decline of free trade.

The subprime mortgage scandal shows:

Maintaining a high quality of life requires the combined efforts of businesses,nonprofit organizations and volunteer groups.

Because capital - machinery and tools - are now becoming available in world markets,it is the critical element for wealth creation.

The loss of farm workers over the last century is what?

Census studies indicate that about ________ percent of the Canadian population was foreign-born.

The book Boom Bust & Echo economist David Foot suggests that ________ explains about two-thirds of everything,including what products will be in demand in five years.

Since the beginning of the 1900s,the agricultural sector of Canada has:

Those individuals born in Canada between 1947 and 1966 are referred to as:

World trade has grown in part because of the development of efficient distribution systems.

Few issues have captured the attention of the international business community more than what?

Which of the following organizations would be considered a business and not a nonprofit organization?

People born in Canada between 1980 and 1995 are referred to as:

Identity theft occurs when a robber personally knows their victim. Identity theft is the obtaining of personal information about a person,and using that information for illegal purposes.

Currently,about what percent of all families in Canada are supported by two income earners?

Which of the following age groups is expected to grow in the future?

How Economic Issues Affect Business

Competing in Global Markets

The Role of Government in Business

Ethics and Social Responsibility

Forms of Business Ownership

Entrepreneurship and Starting a Small Business

Management and Leadership

Adapting Organizations to Todays Markets

Producing World-Class Goods and Services

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Understanding Employeemanagement Issues and Relations

Marketing: Building Customer and Stakeholder Relationships

Managing the Marketing Mix: Product, Price, Place, and Promotion

Understanding Accounting and Financial Information

Financial Management

The Financial Services Industry in Canada

Filters

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

Globalization has greatly ______________.

The Buckmaker Corporation generated total revenues of $30 million dollars while incurring expenses of $17 million.Therefore,during the year Buckmaker Corporation earned a profit of $13 million. The profit a firm earns is found by subtracting total costs from total revenue.

There are two major types of e-commerce transactions: business-to-consumer (B2C)and business-to-business (B2B).Explain the difference between B2C and B2B.Which is more important?

Two important global environment changes in recent years have been the growth of global competition and the decline of free trade.

The subprime mortgage scandal shows:

Maintaining a high quality of life requires the combined efforts of businesses,nonprofit organizations and volunteer groups.

Because capital - machinery and tools - are now becoming available in world markets,it is the critical element for wealth creation.

The loss of farm workers over the last century is what?

Census studies indicate that about ________ percent of the Canadian population was foreign-born.

The book Boom Bust & Echo economist David Foot suggests that ________ explains about two-thirds of everything,including what products will be in demand in five years.

Since the beginning of the 1900s,the agricultural sector of Canada has:

Those individuals born in Canada between 1947 and 1966 are referred to as:

World trade has grown in part because of the development of efficient distribution systems.

Few issues have captured the attention of the international business community more than what?

Which of the following organizations would be considered a business and not a nonprofit organization?

People born in Canada between 1980 and 1995 are referred to as:

Identity theft occurs when a robber personally knows their victim. Identity theft is the obtaining of personal information about a person,and using that information for illegal purposes.

Currently,about what percent of all families in Canada are supported by two income earners?

Which of the following age groups is expected to grow in the future?

How Economic Issues Affect Business

Competing in Global Markets

The Role of Government in Business

Ethics and Social Responsibility

Forms of Business Ownership

Entrepreneurship and Starting a Small Business

Management and Leadership

Adapting Organizations to Todays Markets

Producing World-Class Goods and Services

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Understanding Employeemanagement Issues and Relations

Marketing: Building Customer and Stakeholder Relationships

Managing the Marketing Mix: Product, Price, Place, and Promotion

Understanding Accounting and Financial Information

Financial Management

The Financial Services Industry in Canada

Filters