Question 1

What are taxes sometimes seen as?

Accepted Answer

A)  the price we pay to live in this country 
B)  a necessary evil 
C)  a civic duty 
D)  a waste of money 
A)  the price we pay to live in this country 
B)  a necessary evil 
C)  a civic duty 
D)  a waste of money A

Question 2

The warranty you receive in the box with a DVD player is an express warranty.

Accepted Answer

A) True 
 B)False  True

Question 3

Explain the differences between a for-profit organization and a not-for-profit organization.

Accepted Answer

All businesses are regulated by the government and must comply with established standards.Like their profit-driven counterparts,not-for-profit organizations also offer products and services,collect revenues,and employ workers.For-profit organizations are profit driven and have the opportunity to offer their consumer products and services for a fee.Not-for-profit organizations' primary goal is to improve the quality of life for society.They also partner with their communities by providing services to those who are not financially capable to purchase their products or services.

Question 4

People living in Okinawa,Japan,have the longest life spans in the world.Researchers have looked at many factors that contribute to their longevity.They have found that the people have a very high general level of happiness.This is referred to as which of the following?

Accepted Answer

A)  standard of living 
B)  quality of life 
C)  self-actualization 
D)  contentment 
A)  standard of living 
B)  quality of life 
C)  self-actualization 
D)  contentment

Question 5

A warranty guarantees which of the following?

Accepted Answer

A)  The seller will replace or repair the product at no charge if the customer finds a cheaper substitute. 
B)  The buyer has read and understood the information provided in the owners' manual. 
C)  Consumers will have access to a customer complaint resolution hot line. 
D)  The product sold will be acceptable for the purpose for which the buyer intends to use it. 
A)  The seller will replace or repair the product at no charge if the customer finds a cheaper substitute. 
B)  The buyer has read and understood the information provided in the owners' manual. 
C)  Consumers will have access to a customer complaint resolution hot line. 
D)  The product sold will be acceptable for the purpose for which the buyer intends to use it.

Question 6

Who is responsible for ensuring that public resources have been properly allocated?

Accepted Answer

A)  the government tax department 
B)  the police 
C)  the government auditor 
D)  the government accountants 
A)  the government tax department 
B)  the police 
C)  the government auditor 
D)  the government accountants

Question 7

A group of concerned community leaders formed Homeless Help,a not-for-profit organization providing shelter for homeless individuals.Aside from the fact that it doesn't seek a profit,Homeless Help is likely to operate much like a regular business in many respects.

Accepted Answer

A) True 
 B)False

Question 8

The standard of living reflects the output of goods and services available to a nation's population.

Accepted Answer

A) True 
 B)False

Question 9

The Nike Swoosh and the McDonald's Golden Arches are examples of corporate trademarks.

Accepted Answer

A) True 
 B)False

Question 10

What are the four main types of taxes other than income taxes?

Accepted Answer

A)  gas, alcohol, sales and property 
B)  excise, property, sales and alcohol 
C)  property, payroll, sales and excise 
D)  property, payroll, sales and GST 
A)  gas, alcohol, sales and property 
B)  excise, property, sales and alcohol 
C)  property, payroll, sales and excise 
D)  property, payroll, sales and GST

Question 11

What is a transfer payment?

Accepted Answer

Transfer payments are a redistribution o

Question 12

The provincial governments are responsible for banking,criminal law,and employment insurance.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following holds a company liable for damages caused by a defective product even if the company was unaware of the defect at the time of sale?

Accepted Answer

A)  network responsibility 
B)  managerial liability 
C)  patent infringement 
D)  strict product liability 
A)  network responsibility 
B)  managerial liability 
C)  patent infringement 
D)  strict product liability

Question 14

A trademark gives exclusive legal protection to a name,symbol,or design that distinguishes the goods or services of one seller from those of competitors.

Accepted Answer

A) True 
 B)False

Question 15

Under the doctrine of strict product liability,a manufacturer can be held liable under which of the following conditions?

Accepted Answer

A)  for any injury or damage caused by products that do not meet industry standards 
B)  only if the company knowingly sold a hazardous product 
C)  only if the company purposefully was negligent in the design or production of the product 
D)  only if the company intentionally introduced a defective product 
A)  for any injury or damage caused by products that do not meet industry standards 
B)  only if the company knowingly sold a hazardous product 
C)  only if the company purposefully was negligent in the design or production of the product 
D)  only if the company intentionally introduced a defective product

Question 16

In which area of society do not-for-profit organizations play a critical role?

Accepted Answer

A)  the media 
B)  the community 
C)  the stock market 
D)  the government 
A)  the media 
B)  the community 
C)  the stock market 
D)  the government

Question 17

What do Uno's Pizzeria and LensCrafters have in common?

Accepted Answer

A)  Their products are examples of intermediate goods. 
B)  Their products are a mix of goods and services. 
C)  They offer pure goods. 
D)  They provide pure services. 
A)  Their products are examples of intermediate goods. 
B)  Their products are a mix of goods and services. 
C)  They offer pure goods. 
D)  They provide pure services.

Question 18

What is the difference between a progressive tax and a flat tax?

Accepted Answer

A progressive tax like personal income t

Question 19

What are sales taxes charged on?

Accepted Answer

Sales taxes are charged on goo

Question 20

What is Canada doing to deal with our lack of skilled workers?

Accepted Answer

They created a Federal Skilled

What are taxes sometimes seen as?

The warranty you receive in the box with a DVD player is an express warranty.

Explain the differences between a for-profit organization and a not-for-profit organization.

People living in Okinawa,Japan,have the longest life spans in the world.Researchers have looked at many factors that contribute to their longevity.They have found that the people have a very high general level of happiness.This is referred to as which of the following?

A warranty guarantees which of the following?

Who is responsible for ensuring that public resources have been properly allocated?

A group of concerned community leaders formed Homeless Help,a not-for-profit organization providing shelter for homeless individuals.Aside from the fact that it doesn't seek a profit,Homeless Help is likely to operate much like a regular business in many respects.

The standard of living reflects the output of goods and services available to a nation's population.

The Nike Swoosh and the McDonald's Golden Arches are examples of corporate trademarks.

What are the four main types of taxes other than income taxes?

What is a transfer payment?

The provincial governments are responsible for banking,criminal law,and employment insurance.

Which of the following holds a company liable for damages caused by a defective product even if the company was unaware of the defect at the time of sale?

A trademark gives exclusive legal protection to a name,symbol,or design that distinguishes the goods or services of one seller from those of competitors.

Under the doctrine of strict product liability,a manufacturer can be held liable under which of the following conditions?

In which area of society do not-for-profit organizations play a critical role?

What do Uno's Pizzeria and LensCrafters have in common?

What is the difference between a progressive tax and a flat tax?

What are sales taxes charged on?

What is Canada doing to deal with our lack of skilled workers?

Economics Evolving Systems

Social Society, Corporate Responsibility, and Making Ethical Decisions

Technology Managing Information for Business Success

International The Global Marketplace

Entrepreneurship and Small Business

Analyzing the Business

Forms of Business Ownership

Management and Leadership in Today’s Organizations

Designing Organizational Structures

Motivating Employees

Managing Human Resources and Labour Relations

Marketing The Customer Focus

Creating Marketing Strategies

Achieving World-Class Operations Management

Accounting for Financial Success

Understanding Money and the Canadian Financial System

Finance Maximizing the Value

Filters

Exam 1: Politics Governments’ Roles

What are taxes sometimes seen as?

The warranty you receive in the box with a DVD player is an express warranty.

Explain the differences between a for-profit organization and a not-for-profit organization.

People living in Okinawa,Japan,have the longest life spans in the world.Researchers have looked at many factors that contribute to their longevity.They have found that the people have a very high general level of happiness.This is referred to as which of the following?

A warranty guarantees which of the following?

Who is responsible for ensuring that public resources have been properly allocated?

A group of concerned community leaders formed Homeless Help,a not-for-profit organization providing shelter for homeless individuals.Aside from the fact that it doesn't seek a profit,Homeless Help is likely to operate much like a regular business in many respects.

The standard of living reflects the output of goods and services available to a nation's population.

The Nike Swoosh and the McDonald's Golden Arches are examples of corporate trademarks.

What are the four main types of taxes other than income taxes?

What is a transfer payment?

The provincial governments are responsible for banking,criminal law,and employment insurance.

Which of the following holds a company liable for damages caused by a defective product even if the company was unaware of the defect at the time of sale?

A trademark gives exclusive legal protection to a name,symbol,or design that distinguishes the goods or services of one seller from those of competitors.

Under the doctrine of strict product liability,a manufacturer can be held liable under which of the following conditions?

In which area of society do not-for-profit organizations play a critical role?

What do Uno's Pizzeria and LensCrafters have in common?

What is the difference between a progressive tax and a flat tax?

What are sales taxes charged on?

What is Canada doing to deal with our lack of skilled workers?

Economics Evolving Systems

Social Society, Corporate Responsibility, and Making Ethical Decisions

Technology Managing Information for Business Success

International The Global Marketplace

Entrepreneurship and Small Business

Analyzing the Business

Forms of Business Ownership

Management and Leadership in Today’s Organizations

Designing Organizational Structures

Motivating Employees

Managing Human Resources and Labour Relations

Marketing The Customer Focus

Creating Marketing Strategies

Achieving World-Class Operations Management

Accounting for Financial Success

Understanding Money and the Canadian Financial System

Finance Maximizing the Value

Filters