Question 1

List the four phases in the business cycle.

Accepted Answer

The four phases are

Question 2

Arnold's is a Canadian company that manufactures sports shoes.The CEO cautions that there is a disadvantage associated with planning increased globalization of production.Which of the following is the most likely disadvantage the CEO is referring to?

Accepted Answer

A) Heavy job losses in the domestic market. 
B) Greater disparities in living standards will emerge. 
C) Trade barriers will be reduced between countries. 
D) Substantial job losses will occur in developing markets. 
E) Increased competition will emerge between companies. 
A) Heavy job losses in the domestic market. 
B) Greater disparities in living standards will emerge. 
C) Trade barriers will be reduced between countries. 
D) Substantial job losses will occur in developing markets. 
E) Increased competition will emerge between companies.

Question 3

If GDP is going up,the nation is experiencing

Accepted Answer

A) inflation. 
B) growth. 
C) an increase in demand. 
D) a recession. 
E) It is not possible to tell given the information provided. 
A) inflation. 
B) growth. 
C) an increase in demand. 
D) a recession. 
E) It is not possible to tell given the information provided.

Question 4

What is reflected in real GDP?

Accepted Answer

Real GDP is calculat

Question 5

Ted has not worked in 5 years and has given up looking for work.He is considered unemployed.

Accepted Answer

A) True 
 B)False

Question 6

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 assumed by Marquand?

Accepted Answer

A) All businesses now use information technology for communications and information. 
B) Relatively few businesses sell products online. 
C) Less information was available to businesses before the information technology revolution than there is now. 
D) Consumers preferentially choose to buy from businesses that use the latest information technology. 
E) Selling online is relatively unimportant to most businesses. 
A) All businesses now use information technology for communications and information. 
B) Relatively few businesses sell products online. 
C) Less information was available to businesses before the information technology revolution than there is now. 
D) Consumers preferentially choose to buy from businesses that use the latest information technology. 
E) Selling online is relatively unimportant to most businesses.

Question 7

The national debt refers to

Accepted Answer

A) the total amount of money that Canada owes to its creditors. 
B) the ratio of Canada's exports to its imports. 
C) the result of government spending more in a year than the value of GDP. 
D) the excess amount of taxes over what the government spends in one year. 
E) the amount of taxes the government collects in one year. 
A) the total amount of money that Canada owes to its creditors. 
B) the ratio of Canada's exports to its imports. 
C) the result of government spending more in a year than the value of GDP. 
D) the excess amount of taxes over what the government spends in one year. 
E) the amount of taxes the government collects in one year.

Question 8

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 assumed by Stevenson?

Accepted Answer

A) Most people do not like shopping at traditional retail stores. 
B) Many businesses are reluctant to adopt the latest information technology. 
C) Most consumers use the Internet primarily to buy goods. 
D) The greatest benefit of information technology has been to businesses. 
E) Many products are more efficiently sold online than in traditional stores. 
A) Most people do not like shopping at traditional retail stores. 
B) Many businesses are reluctant to adopt the latest information technology. 
C) Most consumers use the Internet primarily to buy goods. 
D) The greatest benefit of information technology has been to businesses. 
E) Many products are more efficiently sold online than in traditional stores.

Question 9

The more money the Canadian government borrows,the ________ money is available for private borrowing and investment that increases ________.

Accepted Answer

A) more;productivity 
B) less;productivity 
C) more;purchasing power parity 
D) less;GDP 
E) more;GDP 
A) more;productivity 
B) less;productivity 
C) more;purchasing power parity 
D) less;GDP 
E) more;GDP

Question 10

In what ways have social media tools influenced business communications?

Accepted Answer

Companies are using these new vehicles t

Question 11

Internal environment is everything outside an organization's boundaries that might affect it.

Accepted Answer

A) True 
 B)False

Question 12

At one time,about ________ of the population of Canada was involved in producing the food that we needed;today less than ________ percent of the population works in agriculture.

Accepted Answer

A) half;0.6 
B) half;2.1 
C) one-third;5 
D) three-quarters;2.5 
E) four-fifths;3 
A) half;0.6 
B) half;2.1 
C) one-third;5 
D) three-quarters;2.5 
E) four-fifths;3

Question 13

The socio-cultural environment describes

Accepted Answer

A) the relationship between government and unions. 
B) the relationship between business and government. 
C) the relationship between international and domestic corporations. 
D) the customs,values,attitudes,and demographic characteristics of the society in which an organization functions. 
E) the intensity of the competition in an industry. 
A) the relationship between government and unions. 
B) the relationship between business and government. 
C) the relationship between international and domestic corporations. 
D) the customs,values,attitudes,and demographic characteristics of the society in which an organization functions. 
E) the intensity of the competition in an industry.

Question 14

What is viral marketing?

Accepted Answer

The rapid spread of informatio

Question 15

Basic research and development describes

Accepted Answer

A) focusing specifically on how a technological innovation can be put to use in the making of a product or service that can be sold in the marketplace. 
B) those activities that do not create value for the firm. 
C) the process involved in getting a new technology out of the lab and into the marketplace. 
D) improving knowledge in an area without a primary focus on whether any discoveries that might occur are immediately marketable. 
E) those activities that increase a company's revenues. 
A) focusing specifically on how a technological innovation can be put to use in the making of a product or service that can be sold in the marketplace. 
B) those activities that do not create value for the firm. 
C) the process involved in getting a new technology out of the lab and into the marketplace. 
D) improving knowledge in an area without a primary focus on whether any discoveries that might occur are immediately marketable. 
E) those activities that increase a company's revenues.

Question 16

________ is the economic condition characterized by widespread increased prices throughout an economic system.

Accepted Answer

A) Stability 
B) Deflation 
C) Unemployment 
D) Stagflation 
E) Inflation 
A) Stability 
B) Deflation 
C) Unemployment 
D) Stagflation 
E) Inflation

Question 17

________ refers to the skills and resources with which the company competes best and creates the most value for its owners.

Accepted Answer

A) Labour 
B) Outsourcing 
C) Core competencies 
D) Viral marketing 
E) Business process management 
A) Labour 
B) Outsourcing 
C) Core competencies 
D) Viral marketing 
E) Business process management

Question 18

The external environment has only a limited impact on the success or failure of most organizations,but it does have a significant impact on some firms.

Accepted Answer

A) True 
 B)False

Question 19

Canada's GDP per capita in 2017 (in $US)was approximately

Accepted Answer

A) $15 000. 
B) $31 000. 
C) $42 000. 
D) $50 000. 
E) $66 000. 
A) $15 000. 
B) $31 000. 
C) $42 000. 
D) $50 000. 
E) $66 000.

Question 20

A manufacturer has a very successful product but there is only one company in the world that produces one of the key components/ingredients.Under these circumstances,________ power is very strong.

Accepted Answer

A) rivalry among existing competitors 
B) threat of potential entry 
C) supplier 
D) buyer 
E) substitute 
A) rivalry among existing competitors 
B) threat of potential entry 
C) supplier 
D) buyer 
E) substitute

List the four phases in the business cycle.

Arnold's is a Canadian company that manufactures sports shoes.The CEO cautions that there is a disadvantage associated with planning increased globalization of production.Which of the following is the most likely disadvantage the CEO is referring to?

If GDP is going up,the nation is experiencing

What is reflected in real GDP?

Ted has not worked in 5 years and has given up looking for work.He is considered unemployed.

The national debt refers to

The more money the Canadian government borrows,the money is available for private borrowing and investment that increases .

In what ways have social media tools influenced business communications?

Internal environment is everything outside an organization's boundaries that might affect it.

At one time,about of the population of Canada was involved in producing the food that we needed;today less than percent of the population works in agriculture.

The socio-cultural environment describes

What is viral marketing?

Basic research and development describes

________ is the economic condition characterized by widespread increased prices throughout an economic system.

________ refers to the skills and resources with which the company competes best and creates the most value for its owners.

The external environment has only a limited impact on the success or failure of most organizations,but it does have a significant impact on some firms.

Canada's GDP per capita in 2017 (in $US)was approximately

A manufacturer has a very successful product but there is only one company in the world that produces one of the key components/ingredients.Under these circumstances,________ power is very strong.

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 the four phases in the business cycle.

Arnold's is a Canadian company that manufactures sports shoes.The CEO cautions that there is a disadvantage associated with planning increased globalization of production.Which of the following is the most likely disadvantage the CEO is referring to?

If GDP is going up,the nation is experiencing

What is reflected in real GDP?

Ted has not worked in 5 years and has given up looking for work.He is considered unemployed.

The national debt refers to

The more money the Canadian government borrows,the ________ money is available for private borrowing and investment that increases ________.

In what ways have social media tools influenced business communications?

Internal environment is everything outside an organization's boundaries that might affect it.

At one time,about ________ of the population of Canada was involved in producing the food that we needed;today less than ________ percent of the population works in agriculture.

The socio-cultural environment describes

What is viral marketing?

Basic research and development describes

________ is the economic condition characterized by widespread increased prices throughout an economic system.

________ refers to the skills and resources with which the company competes best and creates the most value for its owners.

The external environment has only a limited impact on the success or failure of most organizations,but it does have a significant impact on some firms.

Canada's GDP per capita in 2017 (in $US)was approximately

A manufacturer has a very successful product but there is only one company in the world that produces one of the key components/ingredients.Under these circumstances,________ power is very strong.

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

The more money the Canadian government borrows,the money is available for private borrowing and investment that increases .

At one time,about of the population of Canada was involved in producing the food that we needed;today less than percent of the population works in agriculture.