Question 1

When unemployment is low, employers will tend to reduce the prices of their products.

Accepted Answer

A) True 
 B)False

Question 2

Why is business process management important?

Accepted Answer

It is important because it requires a bu

Question 3

What is business process management?

Accepted Answer

A process is any activity that adds valu

Question 4

Political stability is an important factor for international firms because no business wants to set up shop in another country unless trade relationships with that country are well defined and stable.

Accepted Answer

A) True 
 B)False

Question 5

The economy in the African nation Sponeto has been stagnant for a long time. The government and central bank of Sponeto have been considering options for what can be done to help stimulate investment and growth in the economy. The Sponeto national bank advocates increasing the money supply to encourage investment within the country. Which of the following, if true, would strengthen the case that this will cause inflation?

Accepted Answer

A)  Jobs will be created. 
B)  Banks will lower interest rates. 
C)  Wages will decrease. 
D)  Foreign investment will be discouraged. 
E)  Only low-technology sectors will benefit. 
A)  Jobs will be created. 
B)  Banks will lower interest rates. 
C)  Wages will decrease. 
D)  Foreign investment will be discouraged. 
E)  Only low-technology sectors will benefit.

Question 6

The majority of companies that have adopted ESOPs have experienced improvement in both sales and profits.

Accepted Answer

A) True 
 B)False

Question 7

Research and development (R&D) includes activities that are necessary to provide new products, services, and processes. Two basic types of R&D are

Accepted Answer

A)  deflationary and inflationary. 
B)  public and economical. 
C)  college and university. 
D)  pure and theoretical. 
E)  basic and applied. 
A)  deflationary and inflationary. 
B)  public and economical. 
C)  college and university. 
D)  pure and theoretical. 
E)  basic and applied.

Question 8

If Canada fell into a depression, the Bank of Canada would most likely

Accepted Answer

A)  raise interest rates. 
B)  leave interest rates alone. 
C)  lower interest rates. 
D)  it is not possible to tell with the information given. 
E)  increase gasoline taxes. 
A)  raise interest rates. 
B)  leave interest rates alone. 
C)  lower interest rates. 
D)  it is not possible to tell with the information given. 
E)  increase gasoline taxes.

Question 9

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 at issue between Marquand and Stevenson?

Accepted Answer

A)  Whether online selling is an important factor in business today 
B)  Whether information technology has made a significant difference to businesses 
C)  Whether doing business is significantly helped by online communications 
D)  What the most important effect of information technology has been on business 
E)  What has changed in business since the advent of the latest information technology 
A)  Whether online selling is an important factor in business today 
B)  Whether information technology has made a significant difference to businesses 
C)  Whether doing business is significantly helped by online communications 
D)  What the most important effect of information technology has been on business 
E)  What has changed in business since the advent of the latest information technology

Question 10

How is GDP per capita calculated?

Accepted Answer

GDP per capita is ca

Question 11

Porter's five forces model includes all of the following except

Accepted Answer

A)  substitutes. 
B)  threat of potential entrants. 
C)  buyers. 
D)  suppliers. 
E)  threat of replacement products. 
A)  substitutes. 
B)  threat of potential entrants. 
C)  buyers. 
D)  suppliers. 
E)  threat of replacement products.

Question 12

If GDP is going up, the nation is experiencing

Accepted Answer

A)  inflation. 
B)  growth. 
C)  an increase in demand. 
D)  a recession. 
E)  it is not possible to tell given the information provided. 
A)  inflation. 
B)  growth. 
C)  an increase in demand. 
D)  a recession. 
E)  it is not possible to tell given the information provided.

Question 13

Agriculture efficiency has resulted in

Accepted Answer

A)  Canadians contributing more resources to farms. 
B)  an increase in the number of people employed in the industry. 
C)  Canadians needing more farms. 
D)  a decrease in the number of people employed in the industry. 
E)  none of these. 
A)  Canadians contributing more resources to farms. 
B)  an increase in the number of people employed in the industry. 
C)  Canadians needing more farms. 
D)  a decrease in the number of people employed in the industry. 
E)  none of these.

Question 14

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

Accepted Answer

The consumer price index measu

Question 15

The standard of living in a country improves through increases in the money supply.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following best describes nominal GDP?

Accepted Answer

A)  Total quantity of goods and services produced by an economic system 
B)  Total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system 
C)  Total value of all goods and services produced within a given period by a national economy, through domestic factors of production measured in current dollars, with all components valued at current prices 
D)  Total value of all goods and services produced within a given period by a national economy through domestic and international factors of production 
E)  Total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located 
A)  Total quantity of goods and services produced by an economic system 
B)  Total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system 
C)  Total value of all goods and services produced within a given period by a national economy, through domestic factors of production measured in current dollars, with all components valued at current prices 
D)  Total value of all goods and services produced within a given period by a national economy through domestic and international factors of production 
E)  Total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located

Question 17

Which of the following is the best description of the balance of trade?

Accepted Answer

A)  The total of a nation's revenues from income taxes minus its expenditures on goods and services 
B)  Changes in currency values and price changes 
C)  The profitability of business firms that are exporting goods and services 
D)  The total of a nation's exports minus its imports 
E)  The total value of all services provided to foreigners during a one year time period 
A)  The total of a nation's revenues from income taxes minus its expenditures on goods and services 
B)  Changes in currency values and price changes 
C)  The profitability of business firms that are exporting goods and services 
D)  The total of a nation's exports minus its imports 
E)  The total value of all services provided to foreigners during a one year time period

Question 18

A nation's ________ is the total amount of money that the government owes its creditors.

Accepted Answer

A)  trade deficit 
B)  national debt 
C)  trade deficiency 
D)  trade shortage 
E)  trade surplus 
A)  trade deficit 
B)  national debt 
C)  trade deficiency 
D)  trade shortage 
E)  trade surplus

Question 19

In the past, organizational boundaries were fairly clear-cut and easy to identify, but they have now become much more complex.

Accepted Answer

A) True 
 B)False

Question 20

Deflation is generally a positive thing for consumers because their dollars go further.

Accepted Answer

A) True 
 B)False

When unemployment is low, employers will tend to reduce the prices of their products.

Why is business process management important?

What is business process management?

Political stability is an important factor for international firms because no business wants to set up shop in another country unless trade relationships with that country are well defined and stable.

The majority of companies that have adopted ESOPs have experienced improvement in both sales and profits.

Research and development (R&D) includes activities that are necessary to provide new products, services, and processes. Two basic types of R&D are

If Canada fell into a depression, the Bank of Canada would most likely

How is GDP per capita calculated?

Porter's five forces model includes all of the following except

If GDP is going up, the nation is experiencing

Agriculture efficiency has resulted in

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

The standard of living in a country improves through increases in the money supply.

Which of the following best describes nominal GDP?

Which of the following is the best description of the balance of trade?

A nation's ________ is the total amount of money that the government owes its creditors.

In the past, organizational boundaries were fairly clear-cut and easy to identify, but they have now become much more complex.

Deflation is generally a positive thing for consumers because their dollars go further.

Understanding the Canadian Business System

Conducting Business Ethically and Responsibly

Entrepreneurship, Small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating, Satisfying, and Leading Employees

Operations Management, Productivity, and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

Filters

Exam 2: The Environment of Business

When unemployment is low, employers will tend to reduce the prices of their products.

Why is business process management important?

What is business process management?

Political stability is an important factor for international firms because no business wants to set up shop in another country unless trade relationships with that country are well defined and stable.

The majority of companies that have adopted ESOPs have experienced improvement in both sales and profits.

Research and development (R&D) includes activities that are necessary to provide new products, services, and processes. Two basic types of R&D are

If Canada fell into a depression, the Bank of Canada would most likely

How is GDP per capita calculated?

Porter's five forces model includes all of the following except

If GDP is going up, the nation is experiencing

Agriculture efficiency has resulted in

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

The standard of living in a country improves through increases in the money supply.

Which of the following best describes nominal GDP?

Which of the following is the best description of the balance of trade?

A nation's ________ is the total amount of money that the government owes its creditors.

In the past, organizational boundaries were fairly clear-cut and easy to identify, but they have now become much more complex.

Deflation is generally a positive thing for consumers because their dollars go further.

Understanding the Canadian Business System

Conducting Business Ethically and Responsibly

Entrepreneurship, Small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating, Satisfying, and Leading Employees

Operations Management, Productivity, and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

Filters