Question 1

The rise in housing and food prices means that Canadian consumers now spend a larger proportion of their income on necessities than they did 40 years ago.

Accepted Answer

A) True 
 B)False

Question 2

Distributors who are in a grocery store restocking shelves are normally considered part of the ________ rather than the ________.
environment; culture
organization; environment
culture; store
environment; organization
none of these are correct

Accepted Answer

The answer of Distributors who are in a grocery store...

Question 3

Profits from a Canadian-owned automobile factory in Brazil are included in the GNP of Brazil.

Accepted Answer

A) True 
 B)False

Question 4

Aggregate output refers to the pattern of short-term ups and downs in the economy.

Accepted Answer

A) True 
 B)False

Question 5

The internet has changed the way people pay bills. From Canada Post's perspective, this is an example of which of Porter's five forces?
Substitutes
Threat of potential entrants
Buyers
Suppliers
Threat of replacement products

Accepted Answer

The answer of The internet has changed the way people...

Question 6

Porter's five forces model includes all of the following except
substitutes.
threat of potential entrants.
buyers.
suppliers.
threat of replacement products.

Accepted Answer

The answer of Porter's five forces model includes all of...

Question 7

Paul owns a Canadian shipping company that generates profits as a result of business activities in Brazil. These profits are included in Brazil's
GDP.
national employment.
productivity.
GNP.
GPI.

Accepted Answer

The answer of Paul owns a Canadian shipping company that...

Question 8

Marquand says: Information technology has had its biggest impact on business in communication and access to data. With the networking and streamlined communication modalities now available to businesses, businesses can collaborate with each other as well as within a business at different locations with the greatest of ease. Businesses also have access to a greater range of information and at a greater speed than ever before. And with this information being constantly updated, businesses now have the ability to plan in response to market conditions with much greater efficiency than before.
Stevenson responds: Information is important, but what's most important is how that information is used. And there is no more direct way that information technology has helped businesses than the ability to sell directly. Selling online has opened up entirely new markets that allow businesses to make greater profits, with greater efficiency, than ever before. Many businesses, such as Amazon, have been able to use online selling exclusively to dramatic effect: without having to spend money on bricks-and-mortar storefronts, they can make billions in profits selling products at low prices.
Which of the following is assumed by Stevenson?
Most people do not like shopping at traditional retail stores.
Many businesses are reluctant to adopt the latest information technology.
Most consumers use the internet primarily to buy goods.
The greatest benefit of information technology has been to businesses.
Many products are more efficiently sold online than in traditional stores.

Accepted Answer

The answer of Marquand says: Information technology has had its...

Question 9

With respect to inflation and deflation, which is correct?
Inflation is caused when consumers buy too many luxury goods.
When inflation occurs, people have more money to spend, and there will be an increased quantity of goods for sale.
When inflation occurs, purchasing power decreases.
Deflation is evident when the amount of money injected into the economic system increases faster than actual output.
All of these statements are correct.

Accepted Answer

The answer of With respect to inflation and deflation, which...

Question 10

What is unemployment? How does low unemployment threaten economic stability?

Accepted Answer

The answer of What is unemployment? How does low unemployment...

Question 11

Ethical conduct and social responsibility are critical elements of which environment?
Global
Political‒legal
Industry
Socio-cultural
Economic

Accepted Answer

The answer of Ethical conduct and social responsibility are critical...

Question 12

The consumer price index (CPI) is a measure of the prices of typical products purchased by consumers.

Accepted Answer

A) True 
 B)False

Question 13

If casinos notice an increase in business due to the fact that many people no longer regard gambling as wrong, this demonstrates a change in the ________ dimension of their external environment.
socio-cultural
technological
global
political‒legal
economic

Accepted Answer

The answer of If casinos notice an increase in business...

Question 14

What is measured by the consumer price index (CPI)?

Accepted Answer

The answer of What is measured by the consumer price...

Question 15

If Taiwan has a positive balance of trade, this means that
money is flowing into the country to pay for imported goods.
the total amount of exported goods has increased from the previous year.
the total amount of imported goods has decreased from the previous year.
the nation is exporting more than it imports from other nations.
all of these are correct.

Accepted Answer

The answer of If Taiwan has a positive balance of...

Question 16

The real growth rate of the Canadian economic system is the growth rate of GDP adjusted for inflation and changes in the value of a country's currency.

Accepted Answer

A) True 
 B)False

Question 17

Viral marketing uses word of mouth that spreads information like a virus from customer to customer.

Accepted Answer

A) True 
 B)False

Question 18

The chance that a society can actually achieve full employment is ________ percent.
10
75
45
1
0

Accepted Answer

The answer of The chance that a society can actually...

Question 19

How is per capita GDP computed?
GDP minus all expenses incurred to generate GDP
Gross wages earned by all workers in Canada divided by the number of workers
GNP divided by Canada's population
Total gross domestic product divided by Canada's population
GNP minus GDP

Accepted Answer

The answer of How is per capita GDP computed?
GDP minus...

Question 20

The "basket of goods" included in the Consumer Price Index has remained the same for many years so the government can make accurate year-to-year comparisons about the rate of inflation.

Accepted Answer

A) True 
 B)False

Exam 2: The Environment of Business

The rise in housing and food prices means that Canadian consumers now spend a larger proportion of their income on necessities than they did 40 years ago.

Distributors who are in a grocery store restocking shelves are normally considered part of the rather than the . environment; culture organization; environment culture; store environment; organization none of these are correct

Profits from a Canadian-owned automobile factory in Brazil are included in the GNP of Brazil.

Aggregate output refers to the pattern of short-term ups and downs in the economy.

The internet has changed the way people pay bills. From Canada Post's perspective, this is an example of which of Porter's five forces? Substitutes Threat of potential entrants Buyers Suppliers Threat of replacement products

Porter's five forces model includes all of the following except substitutes. threat of potential entrants. buyers. suppliers. threat of replacement products.

Paul owns a Canadian shipping company that generates profits as a result of business activities in Brazil. These profits are included in Brazil's GDP. national employment. productivity. GNP. GPI.

What is unemployment? How does low unemployment threaten economic stability?

Ethical conduct and social responsibility are critical elements of which environment? Global Political‒legal Industry Socio-cultural Economic

The consumer price index (CPI) is a measure of the prices of typical products purchased by consumers.

If casinos notice an increase in business due to the fact that many people no longer regard gambling as wrong, this demonstrates a change in the ________ dimension of their external environment. socio-cultural technological global political‒legal economic

What is measured by the consumer price index (CPI)?

The real growth rate of the Canadian economic system is the growth rate of GDP adjusted for inflation and changes in the value of a country's currency.

Viral marketing uses word of mouth that spreads information like a virus from customer to customer.

The chance that a society can actually achieve full employment is ________ percent. 10 75 45 1 0

How is per capita GDP computed? GDP minus all expenses incurred to generate GDP Gross wages earned by all workers in Canada divided by the number of workers GNP divided by Canada's population Total gross domestic product divided by Canada's population GNP minus GDP

The "basket of goods" included in the Consumer Price Index has remained the same for many years so the government can make accurate year-to-year comparisons about the rate of inflation.

Exam 2: The Environment of Business

The rise in housing and food prices means that Canadian consumers now spend a larger proportion of their income on necessities than they did 40 years ago.

Distributors who are in a grocery store restocking shelves are normally considered part of the ________ rather than the ________. environment; culture organization; environment culture; store environment; organization none of these are correct

Profits from a Canadian-owned automobile factory in Brazil are included in the GNP of Brazil.

Aggregate output refers to the pattern of short-term ups and downs in the economy.

The internet has changed the way people pay bills. From Canada Post's perspective, this is an example of which of Porter's five forces? Substitutes Threat of potential entrants Buyers Suppliers Threat of replacement products

Porter's five forces model includes all of the following except substitutes. threat of potential entrants. buyers. suppliers. threat of replacement products.

Paul owns a Canadian shipping company that generates profits as a result of business activities in Brazil. These profits are included in Brazil's GDP. national employment. productivity. GNP. GPI.

What is unemployment? How does low unemployment threaten economic stability?

Ethical conduct and social responsibility are critical elements of which environment? Global Political‒legal Industry Socio-cultural Economic

The consumer price index (CPI) is a measure of the prices of typical products purchased by consumers.

If casinos notice an increase in business due to the fact that many people no longer regard gambling as wrong, this demonstrates a change in the ________ dimension of their external environment. socio-cultural technological global political‒legal economic

What is measured by the consumer price index (CPI)?

The real growth rate of the Canadian economic system is the growth rate of GDP adjusted for inflation and changes in the value of a country's currency.

Viral marketing uses word of mouth that spreads information like a virus from customer to customer.

The chance that a society can actually achieve full employment is ________ percent. 10 75 45 1 0

How is per capita GDP computed? GDP minus all expenses incurred to generate GDP Gross wages earned by all workers in Canada divided by the number of workers GNP divided by Canada's population Total gross domestic product divided by Canada's population GNP minus GDP

The "basket of goods" included in the Consumer Price Index has remained the same for many years so the government can make accurate year-to-year comparisons about the rate of inflation.

Distributors who are in a grocery store restocking shelves are normally considered part of the rather than the . environment; culture organization; environment culture; store environment; organization none of these are correct