Exam 6: Section 3: Does It Matter: Society, Ethics and Business

Macroeconomics is the study of:

In Canada, an industry whereby competition is fierce is the:

High capital costs are likely barriers of entry that are typical in the ___________ form of competition.

The market system allows for certain rights to exist, except:

McDonald's selling burgers and fries likely competes in this form of competition:

In general terms, full employment means that:

A pharmaceutical company invents and patents a new drug that is not produced by any other seller. This type of competition may be described as:

Potatoes grown in P.E.I. are sold across Canada and compete in this form of competition:

High levels of taxation with high levels of government services are often associated with:

A factor of production includes all of the following except:

Municipal tap water is typically controlled and operated by a local government. This type of competition is:

When jobs available do not correspond with the skills of the labour force, an increase in _____________ can occur.

A system with greater economic stability but higher unemployment is usually a:

Competition can exist when:

Municipal tap water and bottled water would be part of ______ form(s) of competition.

The analysis of consumer spending on home repairs and renovations would likely fall under:

The construction industry exists around the year, but housing construction is most active in the spring and summer. When housing contractors are unemployed in the winter, they are likely affected by:

Today, the best example of a communistic system would be:

A benefit of competition to consumers is:

An oligopoly is a form of competition in a particular market where: