Question 1

Nonprofit organizations such as the Canadian Cancer Society do not engage in management,marketing,or finance activities.

Accepted Answer

A) True 
 B)False

Question 2

Businesses seek to earn a profit by providing goods and services to others.

Accepted Answer

A) True 
 B)False

Question 3

Profit is what it costs to make and sell a product.

Accepted Answer

A) True 
 B)False

Question 4

In order for product differentiation to be effective,real product differences must be identified so that one product is clearly better than others.

Accepted Answer

A) True 
 B)False

Question 5

In evaluating colleges,students and parents are likely to judge a school:

Accepted Answer

A)  strictly on the basis of major curriculums offered. 
B)  based on the tuition. 
C)  by the collection of benefits offered by the school. 
D)  on the anticipated rate of return on their tuition investment. 
A)  strictly on the basis of major curriculums offered. 
B)  based on the tuition. 
C)  by the collection of benefits offered by the school. 
D)  on the anticipated rate of return on their tuition investment.

Question 6

If a business' costs and expenses are greater than its revenue,it will suffer a loss.

Accepted Answer

A) True 
 B)False

Question 7

Sweet Dream Confectioners uses the same ingredients as most other producers of chocolate candies.In fact,taste tests suggest that the candy itself,while quite good,isn't much better than other well-known brands of chocolate.However,the company wraps its candies in expensive looking foil and places them in very attractive boxes.It promotes its products in advertisements as "the ultimate in chocolate experience." Sweet Dream charges a much higher price than most competitors,but sales continue to grow.This success indicates that:

Accepted Answer

A)  consumers often behave in an irrational manner. 
B)  there is more to the total product offer than the physical product. 
C)  consumers seldom consider price when making a buying decision for goods such as chocolate. 
D)  chocolate is best classified as a convenience good. 
A)  consumers often behave in an irrational manner. 
B)  there is more to the total product offer than the physical product. 
C)  consumers seldom consider price when making a buying decision for goods such as chocolate. 
D)  chocolate is best classified as a convenience good.

Question 8

Successful product differentiation:

Accepted Answer

A)  of consumer goods is determined exclusively by price. 
B)  can be based on either real or perceived differences in products. 
C)  is prohibited if it restricts price competition and market access. 
D)  is less important due to the growth of the Internet. 
A)  of consumer goods is determined exclusively by price. 
B)  can be based on either real or perceived differences in products. 
C)  is prohibited if it restricts price competition and market access. 
D)  is less important due to the growth of the Internet.

Question 9

Managers in many of today's high-tech firms realize that workers often know much more about technology than they do.

Accepted Answer

A) True 
 B)False

Question 10

What are Stakeholders?

Accepted Answer

Stakeholders are individuals,groups,or o

Question 11

Well-managed businesses will grow and prosper regardless of the business environment in which they operate.

Accepted Answer

A) True 
 B)False

Question 12

All of the following would be included in the total product offer of benefits that consumers consider when buying a good or service the:

Accepted Answer

A)  price. 
B)  consumer's income. 
C)  buyer's past experience. 
D)  store's atmosphere. 
A)  price. 
B)  consumer's income. 
C)  buyer's past experience. 
D)  store's atmosphere.

Question 13

A business' objectives should be:

Accepted Answer

A)  specific 
B)  measurable 
C)  actionable 
D)  controllable 
E)  all of the above 
A)  specific 
B)  measurable 
C)  actionable 
D)  controllable 
E)  all of the above

Question 14

Technology can help businesses become more efficient and productive.

Accepted Answer

A) True 
 B)False

Question 15

A business' objectives should NOT be which of the following:

Accepted Answer

A)  Specific 
B)  Measurable 
C)  Easy 
D)  Controllable 
E)  All of the above 
A)  Specific 
B)  Measurable 
C)  Easy 
D)  Controllable 
E)  All of the above

Question 16

Which of the following is NOT one of the three fundamental characteristic that an efficient and effective operating platform will possess?

Accepted Answer

A)  A system of integrated actions 
B)  Commercial Endeavours 
C)  Employee Interaction model 
D)  Organizational Efficiency & Structure 
E)  None of the above 
A)  A system of integrated actions 
B)  Commercial Endeavours 
C)  Employee Interaction model 
D)  Organizational Efficiency & Structure 
E)  None of the above

Question 17

If a business costs and expenses are greater than its revenue,it will suffer a loss.

Accepted Answer

A) True 
 B)False

Question 18

The critical component of a total product offer is always a low price.

Accepted Answer

A) True 
 B)False

Question 19

What is a business model or system? ?

Accepted Answer

This second objective is to set in motio

Question 20

When people consider purchasing a good,they:

Accepted Answer

A)  are responding to the market forces of supply and demand. 
B)  are most influenced by the price of the product or service. 
C)  will not consider goods that require them to make a special effort to purchase. 
D)  may evaluate and compare a variety of factors. 
A)  are responding to the market forces of supply and demand. 
B)  are most influenced by the price of the product or service. 
C)  will not consider goods that require them to make a special effort to purchase. 
D)  may evaluate and compare a variety of factors.

Nonprofit organizations such as the Canadian Cancer Society do not engage in management,marketing,or finance activities.

Businesses seek to earn a profit by providing goods and services to others.

Profit is what it costs to make and sell a product.

In order for product differentiation to be effective,real product differences must be identified so that one product is clearly better than others.

In evaluating colleges,students and parents are likely to judge a school:

If a business' costs and expenses are greater than its revenue,it will suffer a loss.

Successful product differentiation:

Managers in many of today's high-tech firms realize that workers often know much more about technology than they do.

What are Stakeholders?

Well-managed businesses will grow and prosper regardless of the business environment in which they operate.

All of the following would be included in the total product offer of benefits that consumers consider when buying a good or service the:

A business' objectives should be:

Technology can help businesses become more efficient and productive.

A business' objectives should NOT be which of the following:

Which of the following is NOT one of the three fundamental characteristic that an efficient and effective operating platform will possess?

If a business costs and expenses are greater than its revenue,it will suffer a loss.

The critical component of a total product offer is always a low price.

What is a business model or system? ?

When people consider purchasing a good,they:

The Canadian Economic Environment

The Global Marketplace

The Environment and Sustainable Business Practices

Ethics and Corporate Social Responsibility

Developing a Business Strategy

Entrepreneurship and Forms of Business Ownership

Developing Your Business Structure and Culture

Managing and Leading the Organizations Talent

The Marketing Challenge

Understanding the Marketing Effort

Technology and Operations Management

Understanding Business Finances

Financial Statements Structure and Interpretation

Analyzing New Business Ventures

Filters

Exam 1: What Is Business

Nonprofit organizations such as the Canadian Cancer Society do not engage in management,marketing,or finance activities.

Businesses seek to earn a profit by providing goods and services to others.

Profit is what it costs to make and sell a product.

In order for product differentiation to be effective,real product differences must be identified so that one product is clearly better than others.

In evaluating colleges,students and parents are likely to judge a school:

If a business' costs and expenses are greater than its revenue,it will suffer a loss.

Successful product differentiation:

Managers in many of today's high-tech firms realize that workers often know much more about technology than they do.

What are Stakeholders?

Well-managed businesses will grow and prosper regardless of the business environment in which they operate.

All of the following would be included in the total product offer of benefits that consumers consider when buying a good or service the:

A business' objectives should be:

Technology can help businesses become more efficient and productive.

A business' objectives should NOT be which of the following:

Which of the following is NOT one of the three fundamental characteristic that an efficient and effective operating platform will possess?

If a business costs and expenses are greater than its revenue,it will suffer a loss.

The critical component of a total product offer is always a low price.

What is a business model or system? ?

When people consider purchasing a good,they:

The Canadian Economic Environment

The Global Marketplace

The Environment and Sustainable Business Practices

Ethics and Corporate Social Responsibility

Developing a Business Strategy

Entrepreneurship and Forms of Business Ownership

Developing Your Business Structure and Culture

Managing and Leading the Organizations Talent

The Marketing Challenge

Understanding the Marketing Effort

Technology and Operations Management

Understanding Business Finances

Financial Statements Structure and Interpretation

Analyzing New Business Ventures

Filters