Question 1

Not-for-profit organizations focus mainly on health,human services,and religion.

Accepted Answer

A) True 
 B)False

Question 2

Leading-edge firms offer products sooner than bleeding-edge firms.

Accepted Answer

A) True 
 B)False

Question 3

In choosing your career,you must consider the key dimensions of the business environment and your place within it.What does this mean you should do?

Accepted Answer

A) Wait for the jobs to find you at school. 
B) Consider your interests and abilities as well as those skills you learned in college. 
C) Pay attention to the business news and which sectors are growing. 
D) Look for a mentor to help you make the transition to the work world. 
A) Wait for the jobs to find you at school. 
B) Consider your interests and abilities as well as those skills you learned in college. 
C) Pay attention to the business news and which sectors are growing. 
D) Look for a mentor to help you make the transition to the work world.

Question 4

Which term is used to describe where people live and their traits such as race,gender,age,income,and education?

Accepted Answer

A) demography 
B) psychology 
C) sociology 
D) ethnography 
A) demography 
B) psychology 
C) sociology 
D) ethnography

Question 5

Kraft Foods' vision is to "help people around the world eat and live better." That vision is what led the company to support America's Second Harvest,a not-for-profit organization dedicated to creating a hunger-free America.What perception results from this business partnership?

Accepted Answer

A) Only America's Second Harvest appears to be socially responsible. 
B) Both Kraft Foods and America's Second Harvest appear to be socially responsible. 
C) Kraft Foods appears to be doing this only for a better image with the public so it can make more money with its other products. America's Second Harvest appears to be socially responsible. 
D) Only Kraft Foods appears to be doing something that no other company is doing. 
A) Only America's Second Harvest appears to be socially responsible. 
B) Both Kraft Foods and America's Second Harvest appear to be socially responsible. 
C) Kraft Foods appears to be doing this only for a better image with the public so it can make more money with its other products. America's Second Harvest appears to be socially responsible. 
D) Only Kraft Foods appears to be doing something that no other company is doing.

Question 6

Scott started mowing his neighbour's lawn while he was in school.After returning from college,he started a landscaping business and hired some of his friends.Scott is an entrepreneur.

Accepted Answer

A) True 
 B)False

Question 7

Janet owns a modern 250-hectare farm that grows corn and soybeans.Which factors of production will Janet need to employ to produce her crops?

Accepted Answer

A) natural resources, human resources, and entrepreneurship 
B) fertilizer, human resources, and capital 
C) water, entrepreneurship, and seeds 
D) labour, money, and bank loans 
A) natural resources, human resources, and entrepreneurship 
B) fertilizer, human resources, and capital 
C) water, entrepreneurship, and seeds 
D) labour, money, and bank loans

Question 8

List and describe the four factors of production required for an economic system to thrive and create wealth.Give an example of each in your answer.

Accepted Answer

Natural resources include inputs that of

Question 9

Value is defined as the relationship between the price of a good or service and the benefit that it offers a consumer.

Accepted Answer

A) True 
 B)False

Question 10

Which issue has created concerns about the success of the Canadian economy?

Accepted Answer

A) the failure of government agencies to promote fair competitive business practices that give every business a chance to succeed 
B) the high level of corruption in the Canadian economy relative to other nations 
C) the lack of legal standards for the enforcement of contracts in a fair and equitable manner 
D) the growing disparity between the incomes earned by the wealthy and those earned by lower-income Canadians 
A) the failure of government agencies to promote fair competitive business practices that give every business a chance to succeed 
B) the high level of corruption in the Canadian economy relative to other nations 
C) the lack of legal standards for the enforcement of contracts in a fair and equitable manner 
D) the growing disparity between the incomes earned by the wealthy and those earned by lower-income Canadians

Question 11

One personality trait shared by most entrepreneurs is the desire to avoid risk.

Accepted Answer

A) True 
 B)False

Question 12

The production era is also referred to as the era of mass production.

Accepted Answer

A) True 
 B)False

Question 13

A skilled and knowledgeable employee base,or workforce,is essential to keep pace in today's business world.Describe how you will work within the broad business environment to find a job.Cite examples of how the each of the five key dimensions will influence your job search.

Accepted Answer

Student answers will vary greatly.Five k

Question 14

The four factors of production are natural resources,capital,human resources,and entrepreneurship.

Accepted Answer

A) True 
 B)False

Question 15

What are the four major categories of factors of production?

Accepted Answer

A) economic power, money, technology, and agriculture 
B) technology, law, capital, and ingenuity 
C) knowledge, human resources, capital, and technology 
D) natural resources, capital, human resources, and entrepreneurship 
A) economic power, money, technology, and agriculture 
B) technology, law, capital, and ingenuity 
C) knowledge, human resources, capital, and technology 
D) natural resources, capital, human resources, and entrepreneurship

Question 16

Sal Garmin's business offers computer support to local not-for-profit organizations.If he is like most entrepreneurs,Sal's primary goal is to create wealth for his community.

Accepted Answer

A) True 
 B)False

Question 17

Which organizations work hand-in-hand with not-for-profit organizations?

Accepted Answer

A) churches 
B) investment banks 
C) businesses 
D) universities 
A) churches 
B) investment banks 
C) businesses 
D) universities

Question 18

What are the five key dimensions of the broader business environment?

Accepted Answer

A) customers, vendors, suppliers, wholesalers, and retailers 
B) technological, economic, demographic, global, and social dimensions 
C) global, social, and technological dimensions, and market forces and value 
D) economic, competitive, technological, social, and global dimensions 
A) customers, vendors, suppliers, wholesalers, and retailers 
B) technological, economic, demographic, global, and social dimensions 
C) global, social, and technological dimensions, and market forces and value 
D) economic, competitive, technological, social, and global dimensions

Question 19

Not-for-profit organizations contribute to their region's economic stability and growth.

Accepted Answer

A) True 
 B)False

Question 20

Which term refers to the products and goods available to a population for a period of time?

Accepted Answer

A) economic growth 
B) entrepreneurship 
C) quality of life 
D) standard of living 
A) economic growth 
B) entrepreneurship 
C) quality of life 
D) standard of living

Exam 1: Business Now: Change Is the Only Constant

Not-for-profit organizations focus mainly on health,human services,and religion.

Leading-edge firms offer products sooner than bleeding-edge firms.

In choosing your career,you must consider the key dimensions of the business environment and your place within it.What does this mean you should do?

Which term is used to describe where people live and their traits such as race,gender,age,income,and education?

Kraft Foods' vision is to "help people around the world eat and live better." That vision is what led the company to support America's Second Harvest,a not-for-profit organization dedicated to creating a hunger-free America.What perception results from this business partnership?

Scott started mowing his neighbour's lawn while he was in school.After returning from college,he started a landscaping business and hired some of his friends.Scott is an entrepreneur.

Janet owns a modern 250-hectare farm that grows corn and soybeans.Which factors of production will Janet need to employ to produce her crops?

List and describe the four factors of production required for an economic system to thrive and create wealth.Give an example of each in your answer.

Value is defined as the relationship between the price of a good or service and the benefit that it offers a consumer.

Which issue has created concerns about the success of the Canadian economy?

One personality trait shared by most entrepreneurs is the desire to avoid risk.

The production era is also referred to as the era of mass production.

A skilled and knowledgeable employee base,or workforce,is essential to keep pace in today's business world.Describe how you will work within the broad business environment to find a job.Cite examples of how the each of the five key dimensions will influence your job search.

The four factors of production are natural resources,capital,human resources,and entrepreneurship.

What are the four major categories of factors of production?

Sal Garmin's business offers computer support to local not-for-profit organizations.If he is like most entrepreneurs,Sal's primary goal is to create wealth for his community.

Which organizations work hand-in-hand with not-for-profit organizations?

What are the five key dimensions of the broader business environment?

Not-for-profit organizations contribute to their region's economic stability and growth.

Which term refers to the products and goods available to a population for a period of time?

Business Communication: Creating and Delivering Messages That Matter

Business Ethics and Social Responsibility: Doing Well by Doing Good

Economics: the Framework for Business

Business Formation: Choosing the Form That Fits

Small Business and Entrepreneurship: Economic Rocket Fuel

Accounting: Decision Making by the Numbers

Finance: Acquiring and Using Funds to Maximize Value

Securities Markets : Trading Financial Resources

Marketing: Building Profitable Customer Connections

Part 1: Product and Promotion: Creating and Communicating Value

Part 2: Product and Promotion: Creating and Communicating Value

Distribution and Pricing: Right Product, right Person, right Place, right Price

Management, motivation, and Leadership: Bringing Business to Life

Human Resource Management: Building a Top-Quality Workforce

Managing Information and Technology: Finding New Ways to Learn and Link

Operations Management: Putting It All Together

The World Marketplace: Business Without Borders

Labour-Management Relations

Business Law

Personal Finance

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