Exam 1: The Dynamic Business Environment

Insourcing can be found in what industry,according to the text?

Which of the following factors of production is the most important contributing factor to increasing a nation's wealth?

Technology refers to innovations from applied science or engineering research.

Recent studies have shown that the major advantage rich nations have over poor nations is an abundance of land and labour.

All businesses make a profit.

The Canadian population has been_________ for several decades.

Often goods cost more in one country than another because of what?

Businesses use demographic studies to understand where people live,their lifestyles,and what they are likely to buy.

The buying and selling of goods and services online is known as what?

The competitive environment now empowers managers to make decisions quickly for their front line employees.

Firms providing high-paying service jobs are found in areas like health,telecommunications,and finance.

Which is NOT a factor of production?

Manufacturing is no longer an important part of the Canadian economy.

World trade has its costs and benefits.Because of increased trade,there is now an increased interdependence between nations.

High tax rates tend to:

Demographic trends suggest that businesses will benefit from offering elder care and child care to help employees balance the demands of job and family.

The economy affects both businesses and consumers.

The proportion of foreign-born in the Canadian population has been increasing since the 1990s.

The Internet is more important to business-to-business segment of e-commerce than to the business-to-consumer segment of e-commerce.

By balancing the demands of customers and stockholders,businesses have actually satisfied the demands of all stakeholders.