Question 1

What is the total quantity and quality of goods and services people can purchase with the currency used in their economic system called?

Accepted Answer

A) Quality of life 
B) Standard of living 
C) Gross National Product 
D) Gross Domestic Product 
E) Purchasing power 
A) Quality of life 
B) Standard of living 
C) Gross National Product 
D) Gross Domestic Product 
E) Purchasing power

Question 2

What is the pattern of short-term ups and downs in an economy called?

Accepted Answer

A) Business cycle 
B) Economic fluctuations 
C) Economic peaks and valleys 
D) Business variations 
E) Economic rhythms 
A) Business cycle 
B) Economic fluctuations 
C) Economic peaks and valleys 
D) Business variations 
E) Economic rhythms

Question 3

How does cyclical unemployment differ from frictional unemployment?

Accepted Answer

Cyclical unemployment results from a dow

Question 4

Online sales from sources like iTunes and the rise of streaming services like Spotify have transformed the music business.Music artists are no longer earning their main income from physical sales of their music.This new reality is an example of which dimension of the external environment?

Accepted Answer

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

Question 5

The private sector accounts for about 90 percent of R&D expenditures.

Accepted Answer

A) True 
 B)False

Question 6

A financial analyst has noticed a serious increase in inflation.What course of action might the financial analyst advise the government to take to reduce inflation?

Accepted Answer

A) The government can lower taxes. 
B) The government can raise taxes. 
C) Encourage the government to increase spending. 
D) Encourage consumers to increase spending. 
E) Encourage the government to increase spending and lower taxes. 
A) The government can lower taxes. 
B) The government can raise taxes. 
C) Encourage the government to increase spending. 
D) Encourage consumers to increase spending. 
E) Encourage the government to increase spending and lower taxes.

Question 7

An approach which moves from a department-orientated organization to a process team orientation is called

Accepted Answer

A) process improvement. 
B) business process management. 
C) six sigma. 
D) outsourcing. 
E) virtual restructuring. 
A) process improvement. 
B) business process management. 
C) six sigma. 
D) outsourcing. 
E) virtual restructuring.

Question 8

If a Danish company builds a production facility in Canada,will the value of the goods produced be included in Canada's GNP? Explain.

Accepted Answer

The value of the goods won't b

Question 9

Which is the best explanation for why standard of living only increases through productivity?

Accepted Answer

A) The more goods that are available,the lower prices will be. 
B) More goods are available without having to add resources. 
C) Productivity increases the money supply in an economy. 
D) Purchasing power increases when there is more consumer choice. 
E) Prices are determined by the standard of living. 
A) The more goods that are available,the lower prices will be. 
B) More goods are available without having to add resources. 
C) Productivity increases the money supply in an economy. 
D) Purchasing power increases when there is more consumer choice. 
E) Prices are determined by the standard of living.

Question 10

Which of the following best describes the source of socio-cultural environment factors?

Accepted Answer

A) Customs,attitudes,and values 
B) Demographic characteristics,customs,and values 
C) Values,attitudes,customs,and demographic characteristics 
D) Customs,values,religious beliefs,and consumer wealth 
E) Values,religious beliefs,and consumer wealth 
A) Customs,attitudes,and values 
B) Demographic characteristics,customs,and values 
C) Values,attitudes,customs,and demographic characteristics 
D) Customs,values,religious beliefs,and consumer wealth 
E) Values,religious beliefs,and consumer wealth

Question 11

Which of the following would be included in the gross national product of Brazil?

Accepted Answer

A) The profits earned by a Brazilian coffee company operating in Canada 
B) The wages paid to Peruvian workers producing coffee for a Canadian company 
C) The profits earned by a Canadian coffee company operating in Peru 
D) The profits earned by a Canadian-owned manufacturing plant in Brazil 
E) The wages paid to Peruvian workers producing coffee for sale in Canada 
A) The profits earned by a Brazilian coffee company operating in Canada 
B) The wages paid to Peruvian workers producing coffee for a Canadian company 
C) The profits earned by a Canadian coffee company operating in Peru 
D) The profits earned by a Canadian-owned manufacturing plant in Brazil 
E) The wages paid to Peruvian workers producing coffee for sale in Canada

Question 12

In the past,organizational boundaries were fairly clear-cut and easy to identify,but they have now become much more complex.

Accepted Answer

A) True 
 B)False

Question 13

Unemployment is the level of joblessness among

Accepted Answer

A) people over the age of 18 within a given economic system. 
B) people who have been previously employed in an economic system. 
C) people who have the skills for employment within an economic system. 
D) people over the age of 18 and under the age of 65 in a given economic system. 
E) people actively seeking work in an economic system. 
A) people over the age of 18 within a given economic system. 
B) people who have been previously employed in an economic system. 
C) people who have the skills for employment within an economic system. 
D) people over the age of 18 and under the age of 65 in a given economic system. 
E) people actively seeking work in an economic system.

Question 14

A company that cuts and packages paper for photocopiers and printers that merges with a paper mill to reduce the risk of paper shortages is using a(n)

Accepted Answer

A) poison pill merger. 
B) enterprise merger. 
C) friendly takeover bid. 
D) hostile takeover. 
E) vertical merger. 
A) poison pill merger. 
B) enterprise merger. 
C) friendly takeover bid. 
D) hostile takeover. 
E) vertical merger.

Question 15

Which of the following would be excluded from the GDP of Canada?

Accepted Answer

A) A Canadian company produces and sells products in Brazil. 
B) A U.S.company produces and sells products in Canada. 
C) A Canadian company produces and sells products in Canada. 
D) A Brazilian company produces and sells products in Canada. 
E) It is not possible to tell given the information that is provided. 
A) A Canadian company produces and sells products in Brazil. 
B) A U.S.company produces and sells products in Canada. 
C) A Canadian company produces and sells products in Canada. 
D) A Brazilian company produces and sells products in Canada. 
E) It is not possible to tell given the information that is provided.

Question 16

Canada's GDP in 2017 was about

Accepted Answer

A) $275 billion. 
B) $950 billion. 
C) $2.1 trillion. 
D) $3.6 trillion. 
E) $8.3 trillion. 
A) $275 billion. 
B) $950 billion. 
C) $2.1 trillion. 
D) $3.6 trillion. 
E) $8.3 trillion.

Question 17

How does GNP differ from GDP? Give an example of a product that would be included in Canada's GNP,but not its GDP.

Accepted Answer

A nation's gross national product (GNP)m

Question 18

A poison pill is generally used in hostile takeovers to ensure that outsiders can't get any shares of stock.

Accepted Answer

A) True 
 B)False

Question 19

The ________ is the economic value of all the products that a country exports minus the economic value of imported products.

Accepted Answer

A) real GDP 
B) gross national product 
C) nominal GDP 
D) balance of trade 
E) national debt 
A) real GDP 
B) gross national product 
C) nominal GDP 
D) balance of trade 
E) national debt

Question 20

Deflation refers to

Accepted Answer

A) a period of falling prices. 
B) the occurrence of price increases throughout the economic system. 
C) the condition in an economic system in which the amount of money available is greater than the amount of goods produced. 
D) the measure of prices in urban areas. 
E) the amount of government spending greater than the taxes collected in one year. 
A) a period of falling prices. 
B) the occurrence of price increases throughout the economic system. 
C) the condition in an economic system in which the amount of money available is greater than the amount of goods produced. 
D) the measure of prices in urban areas. 
E) the amount of government spending greater than the taxes collected in one year.

What is the total quantity and quality of goods and services people can purchase with the currency used in their economic system called?

What is the pattern of short-term ups and downs in an economy called?

How does cyclical unemployment differ from frictional unemployment?

Online sales from sources like iTunes and the rise of streaming services like Spotify have transformed the music business.Music artists are no longer earning their main income from physical sales of their music.This new reality is an example of which dimension of the external environment?

The private sector accounts for about 90 percent of R&D expenditures.

A financial analyst has noticed a serious increase in inflation.What course of action might the financial analyst advise the government to take to reduce inflation?

An approach which moves from a department-orientated organization to a process team orientation is called

If a Danish company builds a production facility in Canada,will the value of the goods produced be included in Canada's GNP? Explain.

Which is the best explanation for why standard of living only increases through productivity?

Which of the following best describes the source of socio-cultural environment factors?

Which of the following would be included in the gross national product of Brazil?

In the past,organizational boundaries were fairly clear-cut and easy to identify,but they have now become much more complex.

Unemployment is the level of joblessness among

A company that cuts and packages paper for photocopiers and printers that merges with a paper mill to reduce the risk of paper shortages is using a(n)

Which of the following would be excluded from the GDP of Canada?

Canada's GDP in 2017 was about

How does GNP differ from GDP? Give an example of a product that would be included in Canada's GNP,but not its GDP.

A poison pill is generally used in hostile takeovers to ensure that outsiders can't get any shares of stock.

The ________ is the economic value of all the products that a country exports minus the economic value of imported products.

Deflation refers to

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

What is the total quantity and quality of goods and services people can purchase with the currency used in their economic system called?

What is the pattern of short-term ups and downs in an economy called?

How does cyclical unemployment differ from frictional unemployment?

Online sales from sources like iTunes and the rise of streaming services like Spotify have transformed the music business.Music artists are no longer earning their main income from physical sales of their music.This new reality is an example of which dimension of the external environment?

The private sector accounts for about 90 percent of R&D expenditures.

A financial analyst has noticed a serious increase in inflation.What course of action might the financial analyst advise the government to take to reduce inflation?

An approach which moves from a department-orientated organization to a process team orientation is called

If a Danish company builds a production facility in Canada,will the value of the goods produced be included in Canada's GNP? Explain.

Which is the best explanation for why standard of living only increases through productivity?

Which of the following best describes the source of socio-cultural environment factors?

Which of the following would be included in the gross national product of Brazil?

In the past,organizational boundaries were fairly clear-cut and easy to identify,but they have now become much more complex.

Unemployment is the level of joblessness among

A company that cuts and packages paper for photocopiers and printers that merges with a paper mill to reduce the risk of paper shortages is using a(n)

Which of the following would be excluded from the GDP of Canada?

Canada's GDP in 2017 was about

How does GNP differ from GDP? Give an example of a product that would be included in Canada's GNP,but not its GDP.

A poison pill is generally used in hostile takeovers to ensure that outsiders can't get any shares of stock.

The ________ is the economic value of all the products that a country exports minus the economic value of imported products.

Deflation refers to

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