Question 1

In the Canadian economy, personal income has grown. What has happened to personal debt?

Accepted Answer

A)  It has grown more rapidly than personal income. 
B)  It has declined at the same rate as the growth in personal income. 
C)  It has increased personal disposable income. 
D)  It has grown at a much slower rate than personal income. 
A)  It has grown more rapidly than personal income. 
B)  It has declined at the same rate as the growth in personal income. 
C)  It has increased personal disposable income. 
D)  It has grown at a much slower rate than personal income.

Question 2

List and describe the five key dimensions of the broader business environment.

Accepted Answer

Economic environment: The Canadian econo

Question 3

What is a business and how does it survive and maintain a profit?

Accepted Answer

A business is an organization that provi

Question 4

Businesses and not-for-profit organizations rely on factors of production to achieve their objectives.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is the best example of a natural resource?

Accepted Answer

A)  entrepreneurship 
B)  the effort supplied by an assembly line worker 
C)  silver 
D)  corn grown on a farm 
A)  entrepreneurship 
B)  the effort supplied by an assembly line worker 
C)  silver 
D)  corn grown on a farm

Question 6

In Canada, which is the most tolerant age group with regards to racial differences, immigration, and homosexuality?

Accepted Answer

A)  young adults 
B)  retired adults 
C)  older working adults 
D)  teens 
A)  young adults 
B)  retired adults 
C)  older working adults 
D)  teens

Question 7

Demographics are measurable characteristics of a population.

Accepted Answer

A) True 
 B)False

Question 8

The Industrial Revolution era is recognized for its technological advances.

Accepted Answer

A) True 
 B)False

Question 9

What occurs when expenses are higher than revenues for a business?

Accepted Answer

A)  risk 
B)  profit 
C)  surplus 
D)  loss 
A)  risk 
B)  profit 
C)  surplus 
D)  loss

Question 10

Capital, as a factor of production, includes machines, tools, buildings, information, and technology.

Accepted Answer

A) True 
 B)False

Question 11

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 12

As aging baby boomers retire, what impact will this have on organizations?

Accepted Answer

A)  Organizations will compete for top talent, driving up the costs of recruitment and payroll. 
B)  Organizations will rely mainly on unskilled labour in the future, spurring companies to go offshore for cheap labour. 
C)  Organizations will face very few problems finding labour, because the next generation of workers is larger than the generation that is retiring. 
D)  Organizations will take advantage of the retirements by replacing them with workers earning lower wages and salaries, thus reducing labour costs. 
A)  Organizations will compete for top talent, driving up the costs of recruitment and payroll. 
B)  Organizations will rely mainly on unskilled labour in the future, spurring companies to go offshore for cheap labour. 
C)  Organizations will face very few problems finding labour, because the next generation of workers is larger than the generation that is retiring. 
D)  Organizations will take advantage of the retirements by replacing them with workers earning lower wages and salaries, thus reducing labour costs.

Question 13

Which of the following statements is most consistent with the marketing concept?

Accepted Answer

A)  Consumers care more about price than about quality. The goal of business is to market to as many customers as possible. 
B)  Controlling the market for natural resources can give a firm a huge competitive advantage. 
C)  All aspects of a business organization should focus on the needs of the customer. 
D)  The primary purpose of a business is to dominate its market. 
A)  Consumers care more about price than about quality. The goal of business is to market to as many customers as possible. 
B)  Controlling the market for natural resources can give a firm a huge competitive advantage. 
C)  All aspects of a business organization should focus on the needs of the customer. 
D)  The primary purpose of a business is to dominate its market.

Question 14

Businesses raise the standard of living through the payment of taxes, which can be used by the government to pay for socially desirable projects.

Accepted Answer

A) True 
 B)False

Question 15

A small consulting company in Waikiki, Hawaii, struggles financially because of limited access to economic resources. This company has to get creative to build long-term bonds with its current customers and use technology to reach new customers. The company is using concepts from what era?

Accepted Answer

A)  relationship era 
B)  marketing era 
C)  production era 
D)  entrepreneur era 
A)  relationship era 
B)  marketing era 
C)  production era 
D)  entrepreneur era

Question 16

Which of the following best describes what is included in human resources?

Accepted Answer

A)  the physical, intellectual, and creative contributions of individuals working within an economy 
B)  the number of manual labour jobs in a company 
C)  the technology and synthetic resources of business productivity 
D)  the generic, standard, and valued individuals working for a business 
A)  the physical, intellectual, and creative contributions of individuals working within an economy 
B)  the number of manual labour jobs in a company 
C)  the technology and synthetic resources of business productivity 
D)  the generic, standard, and valued individuals working for a business

Question 17

Entrepreneurs need economic freedom to thrive. What does this freedom include?

Accepted Answer

A)  freedom to make money, freedom from taxation, and freedom from regulation 
B)  freedom to make money, freedom to hire people, and freedom from taxation 
C)  freedom of choice, freedom from excess regulation, and freedom from too much taxation 
D)  freedom to hire people, freedom to compete, and freedom from all regulation 
A)  freedom to make money, freedom from taxation, and freedom from regulation 
B)  freedom to make money, freedom to hire people, and freedom from taxation 
C)  freedom of choice, freedom from excess regulation, and freedom from too much taxation 
D)  freedom to hire people, freedom to compete, and freedom from all regulation

Question 18

The production era is recognized for which of the following?

Accepted Answer

A)  increasingly specialized jobs, resulting in higher productivity and lower costs and prices 
B)  the rise of monopoly power, giving big business the ability to raise prices almost at will 
C)  creating satisfied customers who acted as advocates for business 
D)  power shifting away from business toward consumers 
A)  increasingly specialized jobs, resulting in higher productivity and lower costs and prices 
B)  the rise of monopoly power, giving big business the ability to raise prices almost at will 
C)  creating satisfied customers who acted as advocates for business 
D)  power shifting away from business toward consumers

Question 19

During the entrepreneurship era, the government began to regulate business practices.

Accepted Answer

A) True 
 B)False

Question 20

There are three key dimensions to the business environment: financial, technical, and ethical.

Accepted Answer

A) True 
 B)False

In the Canadian economy, personal income has grown. What has happened to personal debt?

List and describe the five key dimensions of the broader business environment.

What is a business and how does it survive and maintain a profit?

Businesses and not-for-profit organizations rely on factors of production to achieve their objectives.

Which of the following is the best example of a natural resource?

In Canada, which is the most tolerant age group with regards to racial differences, immigration, and homosexuality?

Demographics are measurable characteristics of a population.

The Industrial Revolution era is recognized for its technological advances.

What occurs when expenses are higher than revenues for a business?

Capital, as a factor of production, includes machines, tools, buildings, information, and technology.

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.

As aging baby boomers retire, what impact will this have on organizations?

Which of the following statements is most consistent with the marketing concept?

Businesses raise the standard of living through the payment of taxes, which can be used by the government to pay for socially desirable projects.

A small consulting company in Waikiki, Hawaii, struggles financially because of limited access to economic resources. This company has to get creative to build long-term bonds with its current customers and use technology to reach new customers. The company is using concepts from what era?

Which of the following best describes what is included in human resources?

Entrepreneurs need economic freedom to thrive. What does this freedom include?

The production era is recognized for which of the following?

During the entrepreneurship era, the government began to regulate business practices.

There are three key dimensions to the business environment: financial, technical, and ethical.

Business Ethics and Social Responsibility: Doing Well by Doing Good

Economics: The Framework for Business

The World Market-Place: Business Without Borders

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

Financial Markets: Allocating Financial Resources

Marketing: Building Profitable Customer Connections

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

Business Communication: Creating and Delivering Messages That Matter

Labour Unions and Collective Bargaining

Business Law

Personal Finance

Filters

Exam 1: Business Now: Change Is the Only Constant

In the Canadian economy, personal income has grown. What has happened to personal debt?

List and describe the five key dimensions of the broader business environment.

What is a business and how does it survive and maintain a profit?

Businesses and not-for-profit organizations rely on factors of production to achieve their objectives.

Which of the following is the best example of a natural resource?

In Canada, which is the most tolerant age group with regards to racial differences, immigration, and homosexuality?

Demographics are measurable characteristics of a population.

The Industrial Revolution era is recognized for its technological advances.

What occurs when expenses are higher than revenues for a business?

Capital, as a factor of production, includes machines, tools, buildings, information, and technology.

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.

As aging baby boomers retire, what impact will this have on organizations?

Which of the following statements is most consistent with the marketing concept?

Businesses raise the standard of living through the payment of taxes, which can be used by the government to pay for socially desirable projects.

A small consulting company in Waikiki, Hawaii, struggles financially because of limited access to economic resources. This company has to get creative to build long-term bonds with its current customers and use technology to reach new customers. The company is using concepts from what era?

Which of the following best describes what is included in human resources?

Entrepreneurs need economic freedom to thrive. What does this freedom include?

The production era is recognized for which of the following?

During the entrepreneurship era, the government began to regulate business practices.

There are three key dimensions to the business environment: financial, technical, and ethical.

Business Ethics and Social Responsibility: Doing Well by Doing Good

Economics: The Framework for Business

The World Market-Place: Business Without Borders

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

Financial Markets: Allocating Financial Resources

Marketing: Building Profitable Customer Connections

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

Business Communication: Creating and Delivering Messages That Matter

Labour Unions and Collective Bargaining

Business Law

Personal Finance

Filters