Exam 1: The Dynamic Business Environment

The number of Canadian jobs in manufacturing has increased in the past five years.

A retailer can store a lot of customer records that include their name,address,and telephone numbers and past purchases in a database.This allows the retailer to only stock what the customers in their area want.This saves the retailer's money in:

provides information to businesses concerning where people live,what they buy,and how they spend their time.

For an entrepreneur to achieve success in the business world he has to be willing to take:

Two important changes to the global environment of business in recent years are:

The resources that contribute to the creation of wealth are known as:

To remain competitive in today's market,firms must produce a quality product and offer outstanding service and products at a reasonable price.

The two main types of e-commerce are:

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

Identity theft is no longer a problem in Canada and the United States.

It is legal to outsource and offshore.

The business environment refers to the surrounding factors that either help or hinder the development of businesses.

The service producing sector employs almost ___% of the working population

Well-managed businesses will grow and prosper regardless of the business environment in which they operate.

The total amount of money that businesses take in over a given period of time for selling goods and services is called _________.

Some areas of the service sector will grow rapidly,while other areas of the service sector may _________.

Due to increased competition,many of the farms that existed 50 years ago have been replaced by what?

Which of the following is the most accurate statement about the impact of entrepreneurs?

As a factor of production,the term capital includes:

Money is one of the five factors of production that contribute to the creation of wealth.