Exam 1: Business Now: Change Is the Only Constant

Investing in worker satisfaction will NOT affect profitability of a business.

The free-trade movement has lowered prices and increased quality across virtually every product category.

Which of the following was introduced in the marketing era?

Capital is considered one of the factors of production. What does capital include?

Producers today deliver better goods more quickly and cheaply than ever before.

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

One reason that the Canadian economy remains relatively strong is that the government takes active steps to reduce the risks of starting and running a business.

Not-for-profit organizations can be economic magnets within a community.

Tiny Timbers Tree Farm sells a variety of trees for different customers. Recently, the company received notice from the Ministry of Natural Resources that a shortage of fir trees is affecting a rare moth population. The government has ruled that tree farms must refrain from cultivating fir trees for business use until further notice. Which element of Tiny Timbers' environment is most directly affected by this ruling?

Which of the following is a type of not-for-profit organization?

One characteristic of all not-for-profit organizations is that they do not earn any revenue.

Which era was included in the evolution of business?

What do we call the quality and quantity of goods and services available to a population?

Which of the following is a key feature of an organization that adopts the marketing concept?

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.

Migration of jobs relates closely to the global movement of free trade.

Companies use capital to produce goods and services.

Apple provides an excellent example of being on the leading edge.

What is the likely result of too much taxation, an overuse of regulation, and limited choices in the broader business environment?

In choosing your career, what will following your passion help you do?