Question 1

List and describe the three factors that threaten stability.

Accepted Answer

The three factors are inflation (the occurrence of widespread price increases throughout an economic system),deflation (a period of generally falling prices),and unemployment (the level of joblessness among people actively seeking work in an economic system).

Question 2

List and briefly describe each of the organizational environments that affect businesses.

Accepted Answer

The environments are (1)economic (the condition of the economic system in which the company operates), (2)technological (changes in the way that businesses create value for their customers), (3)political-legal (the relationship between businesses and government),
(4)socio-cultural (the customs,values,attitudes,and demographics of the society in which a company operates),and (5)business (the complex,demanding,and ever-changing set of circumstances in which businesses try to differentiate themselves from their competitors).

Question 3

Ethical conduct and social responsibility are critical elements of which environment?

Accepted Answer

A) Global 
B) Political-legal 
C) Industry 
D) Socio-cultural 
E) Economic 
A) Global 
B) Political-legal 
C) Industry 
D) Socio-cultural 
E) Economic D

Question 4

According to the purchasing power parity principle,exchange rates are set so that the prices of similar products in different countries are about the same.

Accepted Answer

A) True 
 B)False

Question 5

What is meant by the term core competencies?

Accepted Answer

Core competencies are the skil

Question 6

How does the national debt affect economic growth?

Accepted Answer

A country's national debt is the amount

Question 7

Which of the following is the strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or services?

Accepted Answer

A) Outsourcing 
B) Offshoring 
C) Downloading 
D) Deploying 
E) Delegating 
A) Outsourcing 
B) Offshoring 
C) Downloading 
D) Deploying 
E) Delegating

Question 8

What is a poison pill?

Accepted Answer

A poison pill is a defence that company

Question 9

Which of the following is the best definition of gross national product?

Accepted Answer

A) Total quantity of goods and services produced by an economic system 
B) Total quantity of goods and services produced within a given period by a national economy,not including foreign production 
C) Total value of all goods and services produced within a given period by a national economy through domestic factors of production 
D) Total value of all goods and services produced within a given period regardless of where the factors of production are located 
E) Total value of all goods and services that are exported 
A) Total quantity of goods and services produced by an economic system 
B) Total quantity of goods and services produced within a given period by a national economy,not including foreign production 
C) Total value of all goods and services produced within a given period by a national economy through domestic factors of production 
D) Total value of all goods and services produced within a given period regardless of where the factors of production are located 
E) Total value of all goods and services that are exported

Question 10

What is the relationship between business and government,including government regulation of business called?

Accepted Answer

A) Political-legal environment 
B) Socio-cultural environment 
C) Regulatory environment 
D) Civic environment 
E) Legislative environment 
A) Political-legal environment 
B) Socio-cultural environment 
C) Regulatory environment 
D) Civic environment 
E) Legislative environment

Question 11

An increase in tax rates is an example of ________ policy,while the government influencing banks to lend more to consumers is an example of ________ policy.

Accepted Answer

A) GDP;GNP 
B) fiscal;monetary 
C) GNP;GDP 
D) monetary;fiscal 
E) none of these 
A) GDP;GNP 
B) fiscal;monetary 
C) GNP;GDP 
D) monetary;fiscal 
E) none of these

Question 12

If,in the long run,international trade improves the standard of living in participating countries,why might some countries want to place trade barriers,such as tariffs,on imported products?

Accepted Answer

A) Imported products compete with domestic products and thus put pressure on local business. 
B) Imported products are usually not as good quality as domestically made products. 
C) Generating government revenue is often more economically valuable than free trade. 
D) This is necessary to keep a country's currency strong. 
E) International trade tends to lead to political tension. 
A) Imported products compete with domestic products and thus put pressure on local business. 
B) Imported products are usually not as good quality as domestically made products. 
C) Generating government revenue is often more economically valuable than free trade. 
D) This is necessary to keep a country's currency strong. 
E) International trade tends to lead to political tension.

Question 13

The most successful firms are getting leaner by focusing on their core competencies,but these new business models call for

Accepted Answer

A) environmental management. 
B) high levels of coordination. 
C) new corporate boundaries. 
D) unprecedented funds. 
E) none of these is correct. 
A) environmental management. 
B) high levels of coordination. 
C) new corporate boundaries. 
D) unprecedented funds. 
E) none of these is correct.

Question 14

When the Organic Trade Association partnered with Free Range Graphics to produce a 5-minute online spoof of the latest Star Wars movie,this was an example of

Accepted Answer

A) a strategic alliance. 
B) viral marketing. 
C) outsourcing. 
D) business process management. 
E) none of these. 
A) a strategic alliance. 
B) viral marketing. 
C) outsourcing. 
D) business process management. 
E) none of these.

Question 15

What is word-of-mouth marketing that spreads information from customer to customer and relies on the Internet to replace face-to-face communications called?

Accepted Answer

A) Rumour marketing 
B) Speed marketing 
C) Gossip marketing 
D) Viral marketing 
E) Diffusion marketing 
A) Rumour marketing 
B) Speed marketing 
C) Gossip marketing 
D) Viral marketing 
E) Diffusion marketing

Question 16

Agriculture efficiency has resulted in

Accepted Answer

A) Canadians contributing more resources to farms. 
B) an increase in the number of people employed in the industry. 
C) Canadians needing more farms. 
D) a decrease in the number of people employed in the industry. 
E) none of these. 
A) Canadians contributing more resources to farms. 
B) an increase in the number of people employed in the industry. 
C) Canadians needing more farms. 
D) a decrease in the number of people employed in the industry. 
E) none of these.

Question 17

A budget deficit refers to

Accepted Answer

A) the measure of economic growth that compares how much a system produces with the resources needed to produce it. 
B) government spending more in one year than it takes in during that year. 
C) the total of a country's exports minus its imports. 
D) the total amount of money that Canada owes its creditors. 
E) the exchange rate that is set so prices of similar products in different countries are the same. 
A) the measure of economic growth that compares how much a system produces with the resources needed to produce it. 
B) government spending more in one year than it takes in during that year. 
C) the total of a country's exports minus its imports. 
D) the total amount of money that Canada owes its creditors. 
E) the exchange rate that is set so prices of similar products in different countries are the same.

Question 18

The economy in the nation of Sponeto has been stagnant for a long time.The government and central bank of Sponeto have been considering options for what can be done to help stimulate investment and growth in the economy. Some in the Sponeto government would like the country to appeal to the World Bank for funding toward economic development,rather than short-term monetary stimulation.Which of the following,if true,would strengthen the case for this course of action?

Accepted Answer

A) Sponeto has come under criticism in the United Nations for alleged human rights abuses. 
B) Sponeto has been able to grow enough food to export to surrounding nations. 
C) Corruption is a major problem among Sponeto's government officials. 
D) Sponeto urgently needs humanitarian aid due to a recent natural disaster. 
E) Chronic and widespread poverty is Sponeto's biggest economic problem. 
A) Sponeto has come under criticism in the United Nations for alleged human rights abuses. 
B) Sponeto has been able to grow enough food to export to surrounding nations. 
C) Corruption is a major problem among Sponeto's government officials. 
D) Sponeto urgently needs humanitarian aid due to a recent natural disaster. 
E) Chronic and widespread poverty is Sponeto's biggest economic problem.

Question 19

Marquand says: Information technology has had its biggest impact on business in communication and access to data.Businesses can collaborate with colleagues in different locations and with external partners with ease.Businesses also have access to a greater range of information at a greater speed than ever before.And with this constantly updated information,businesses can plan quicker responses to real-time market conditions and increase efficiency. Stevenson responds: Information is important,but what's more important is how that information is used.And there is no more direct way that information technology has helped businesses than the ability to sell directly to consumers.Online selling has opened entirely new markets that allow businesses to make greater profits in an efficient manner.Many businesses,such as Amazon,have used online selling to disrupt industries.Without having to spend money on bricks-and-mortar storefronts,they can make billions in profits selling products at low prices.In addition,Amazon (along with Alibaba and many others)have opened efficient platforms allowing small and big businesses to sell around the world.
Which of the following is at issue between Marquand and Stevenson?

Accepted Answer

A) Whether online selling is an important factor in business today 
B) Whether information technology has made a significant difference to businesses 
C) Whether doing business is significantly helped by online communications 
D) What the most important effect of information technology has been on business 
E) What has changed in business since the advent of the latest information technology 
A) Whether online selling is an important factor in business today 
B) Whether information technology has made a significant difference to businesses 
C) Whether doing business is significantly helped by online communications 
D) What the most important effect of information technology has been on business 
E) What has changed in business since the advent of the latest information technology

Question 20

McDonald's has made aggressive moves to gain market share in the coffee market.This is an example of ________,while the opening of Nordstrom stores in Canada is an example of ________.

Accepted Answer

A) substitutes;threat of potential entrants 
B) threat of potential entrants;buyers 
C) buyers;suppliers 
D) suppliers;rivalry among existing competitors 
E) rivalry among existing competitors;threat of potential entrants 
A) substitutes;threat of potential entrants 
B) threat of potential entrants;buyers 
C) buyers;suppliers 
D) suppliers;rivalry among existing competitors 
E) rivalry among existing competitors;threat of potential entrants

List and describe the three factors that threaten stability.

List and briefly describe each of the organizational environments that affect businesses.

Ethical conduct and social responsibility are critical elements of which environment?

According to the purchasing power parity principle,exchange rates are set so that the prices of similar products in different countries are about the same.

What is meant by the term core competencies?

How does the national debt affect economic growth?

Which of the following is the strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or services?

What is a poison pill?

Which of the following is the best definition of gross national product?

What is the relationship between business and government,including government regulation of business called?

An increase in tax rates is an example of policy,while the government influencing banks to lend more to consumers is an example of policy.

If,in the long run,international trade improves the standard of living in participating countries,why might some countries want to place trade barriers,such as tariffs,on imported products?

The most successful firms are getting leaner by focusing on their core competencies,but these new business models call for

When the Organic Trade Association partnered with Free Range Graphics to produce a 5-minute online spoof of the latest Star Wars movie,this was an example of

What is word-of-mouth marketing that spreads information from customer to customer and relies on the Internet to replace face-to-face communications called?

Agriculture efficiency has resulted in

A budget deficit refers to

McDonald's has made aggressive moves to gain market share in the coffee market.This is an example of ,while the opening of Nordstrom stores in Canada is an example of .

Understanding the Canadian Business System

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters

Exam 2: The Environment of Business

List and describe the three factors that threaten stability.

List and briefly describe each of the organizational environments that affect businesses.

Ethical conduct and social responsibility are critical elements of which environment?

According to the purchasing power parity principle,exchange rates are set so that the prices of similar products in different countries are about the same.

What is meant by the term core competencies?

How does the national debt affect economic growth?

Which of the following is the strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or services?

What is a poison pill?

Which of the following is the best definition of gross national product?

What is the relationship between business and government,including government regulation of business called?

An increase in tax rates is an example of ________ policy,while the government influencing banks to lend more to consumers is an example of ________ policy.

If,in the long run,international trade improves the standard of living in participating countries,why might some countries want to place trade barriers,such as tariffs,on imported products?

The most successful firms are getting leaner by focusing on their core competencies,but these new business models call for

When the Organic Trade Association partnered with Free Range Graphics to produce a 5-minute online spoof of the latest Star Wars movie,this was an example of

What is word-of-mouth marketing that spreads information from customer to customer and relies on the Internet to replace face-to-face communications called?

Agriculture efficiency has resulted in

A budget deficit refers to

McDonald's has made aggressive moves to gain market share in the coffee market.This is an example of ________,while the opening of Nordstrom stores in Canada is an example of ________.

Understanding the Canadian Business System

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters

An increase in tax rates is an example of policy,while the government influencing banks to lend more to consumers is an example of policy.

McDonald's has made aggressive moves to gain market share in the coffee market.This is an example of ,while the opening of Nordstrom stores in Canada is an example of .