Question 1

Canada is a usually a creditor nation, while the United States is a consistent debtor nation.

Accepted Answer

A) True 
 B)False

Question 2

________ unemployment results because workers lack the right skills, while ________ unemployment results when people are temporarily out of work while they are looking for a new job.

Accepted Answer

A)  Cyclical; seasonal 
B)  Frictional; seasonal 
C)  Seasonal; structural 
D)  Cyclical; structural 
E)  Structural; frictional 
A)  Cyclical; seasonal 
B)  Frictional; seasonal 
C)  Seasonal; structural 
D)  Cyclical; structural 
E)  Structural; frictional

Question 3

Paul owns a Canadian shipping company that generates profits as a result of business activities in Brazil. These profits are included in Brazil's

Accepted Answer

A)  GDP. 
B)  national employment. 
C)  productivity. 
D)  GNP. 
E)  GPI. 
A)  GDP. 
B)  national employment. 
C)  productivity. 
D)  GNP. 
E)  GPI.

Question 4

When the Organic Trade Association partnered with Free Range Graphics to produce a 5-minute online spoof of the latest Star Wars movie, this was an example of

Accepted Answer

A)  a strategic alliance. 
B)  viral marketing. 
C)  outsourcing. 
D)  business process management. 
E)  none of these. 
A)  a strategic alliance. 
B)  viral marketing. 
C)  outsourcing. 
D)  business process management. 
E)  none of these.

Question 5

What is viral marketing? Why do firms use it?

Accepted Answer

Viral marketing is the strategy of using

Question 6

How does inflation affect purchasing power?

Accepted Answer

Inflation is the occurrence of

Question 7

Companies that continue to act unethically (especially in the area of accounting) will most likely

Accepted Answer

A)  have their shares appreciate in value because shareholders like aggressive accounting practices which help increase the price of their stock. 
B)  have their shares depreciate in value as shareholders become leery of aggressive accounting practices which distort a company's real financial condition. 
C)  never be able to sell shares of stock to the public. 
D)  find that their share price will be unaffected by this practice. 
E)  no pattern is evident. 
A)  have their shares appreciate in value because shareholders like aggressive accounting practices which help increase the price of their stock. 
B)  have their shares depreciate in value as shareholders become leery of aggressive accounting practices which distort a company's real financial condition. 
C)  never be able to sell shares of stock to the public. 
D)  find that their share price will be unaffected by this practice. 
E)  no pattern is evident.

Question 8

Which is the best explanation for why standard of living only increases through productivity?

Accepted Answer

A)  The more goods that are available, the lower prices will be. 
B)  More goods are available without having to come by additional resources. 
C)  Productivity increases the money supply in an economy. 
D)  Purchasing power increases when there is more consumer choice. 
E)  Prices are determined by the standard of living. 
A)  The more goods that are available, the lower prices will be. 
B)  More goods are available without having to come by additional resources. 
C)  Productivity increases the money supply in an economy. 
D)  Purchasing power increases when there is more consumer choice. 
E)  Prices are determined by the standard of living.

Question 9

When Microsoft introduced Encarta, it caused the sale of hard copy encyclopedias sold by Encyclopedia Britannica to drop sharply. This is an example of which of Porter's five forces?

Accepted Answer

A)  Rivalry among existing competitors 
B)  Threat of potential entrants 
C)  Suppliers 
D)  Buyers 
E)  Substitutes 
A)  Rivalry among existing competitors 
B)  Threat of potential entrants 
C)  Suppliers 
D)  Buyers 
E)  Substitutes

Question 10

Which of the following would not likely be a consequence of a recession?

Accepted Answer

A)  Aggregate output declines. 
B)  Producers will hire more employees. 
C)  Unemployment will increase. 
D)  Less labour will be needed to produce products. 
E)  GDP will decrease. 
A)  Aggregate output declines. 
B)  Producers will hire more employees. 
C)  Unemployment will increase. 
D)  Less labour will be needed to produce products. 
E)  GDP will decrease.

Question 11

What is a poison pill?

Accepted Answer

A poison pill is a defence that company

Question 12

Porter's five forces model describes five important forces that cause managers to make mistakes when marketing new products.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following would be included in the gross national product of Canada?

Accepted Answer

A)  The wages paid to Peruvian workers producing coffee for a Brazilian company 
B)  The profits earned by a Canadian-owned automobile plant in Brazil 
C)  The profits earned by a Brazilian coffee company operating in Canada 
D)  The profits earned by a Brazilian coffee company operating in Peru 
E)  The wages paid to Brazilian workers producing coffee for sale in Canada 
A)  The wages paid to Peruvian workers producing coffee for a Brazilian company 
B)  The profits earned by a Canadian-owned automobile plant in Brazil 
C)  The profits earned by a Brazilian coffee company operating in Canada 
D)  The profits earned by a Brazilian coffee company operating in Peru 
E)  The wages paid to Brazilian workers producing coffee for sale in Canada

Question 14

How is Porter's five forces model useful?

Accepted Answer

Porter's model helps managers analyze th

Question 15

Don is unemployed because of a downturn in economic activity; this is an example of ________ unemployment.

Accepted Answer

A)  frictional 
B)  seasonal 
C)  structural 
D)  cyclical 
E)  none of these 
A)  frictional 
B)  seasonal 
C)  structural 
D)  cyclical 
E)  none of these

Question 16

Describe three advantages of outsourcing.

Accepted Answer

Outsourcing provides a number of advanta

Question 17

Distributors who are in a grocery store restocking shelves are normally considered part of the ________ rather than the ________.

Accepted Answer

A)  environment; culture 
B)  organization; environment 
C)  culture; store 
D)  environment; organization 
E)  none of these are correct 
A)  environment; culture 
B)  organization; environment 
C)  culture; store 
D)  environment; organization 
E)  none of these are correct

Question 18

Company A and Company F have been in direct competition for many years. Recently, an announcement was made of a merger between the two companies. This would be a

Accepted Answer

A)  reverse merger. 
B)  joint venture. 
C)  vertical merger. 
D)  friendly takeover. 
E)  horizontal merger. 
A)  reverse merger. 
B)  joint venture. 
C)  vertical merger. 
D)  friendly takeover. 
E)  horizontal merger.

Question 19

________ refers to the total quality and quantity of goods and services that a country's citizens can purchase with the currency used in their economic system.

Accepted Answer

A)  Aggregate output 
B)  The national debt 
C)  Standard of living 
D)  The business cycle 
E)  The consumer price index 
A)  Aggregate output 
B)  The national debt 
C)  Standard of living 
D)  The business cycle 
E)  The consumer price index

Question 20

The main measure of growth in an economic system is

Accepted Answer

A)  the business cycle. 
B)  standard of living. 
C)  gross national product. 
D)  gross domestic product. 
E)  aggregate output. 
A)  the business cycle. 
B)  standard of living. 
C)  gross national product. 
D)  gross domestic product. 
E)  aggregate output.

Canada is a usually a creditor nation, while the United States is a consistent debtor nation.

unemployment results because workers lack the right skills, while unemployment results when people are temporarily out of work while they are looking for a new job.

Paul owns a Canadian shipping company that generates profits as a result of business activities in Brazil. These profits are included in Brazil's

When the Organic Trade Association partnered with Free Range Graphics to produce a 5-minute online spoof of the latest Star Wars movie, this was an example of

What is viral marketing? Why do firms use it?

How does inflation affect purchasing power?

Companies that continue to act unethically (especially in the area of accounting) will most likely

Which is the best explanation for why standard of living only increases through productivity?

When Microsoft introduced Encarta, it caused the sale of hard copy encyclopedias sold by Encyclopedia Britannica to drop sharply. This is an example of which of Porter's five forces?

Which of the following would not likely be a consequence of a recession?

What is a poison pill?

Porter's five forces model describes five important forces that cause managers to make mistakes when marketing new products.

Which of the following would be included in the gross national product of Canada?

How is Porter's five forces model useful?

Don is unemployed because of a downturn in economic activity; this is an example of ________ unemployment.

Describe three advantages of outsourcing.

Distributors who are in a grocery store restocking shelves are normally considered part of the rather than the .

Company A and Company F have been in direct competition for many years. Recently, an announcement was made of a merger between the two companies. This would be a

________ refers to the total quality and quantity of goods and services that a country's citizens can purchase with the currency used in their economic system.

The main measure of growth in an economic system is

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

Canada is a usually a creditor nation, while the United States is a consistent debtor nation.

________ unemployment results because workers lack the right skills, while ________ unemployment results when people are temporarily out of work while they are looking for a new job.

Paul owns a Canadian shipping company that generates profits as a result of business activities in Brazil. These profits are included in Brazil's

When the Organic Trade Association partnered with Free Range Graphics to produce a 5-minute online spoof of the latest Star Wars movie, this was an example of

What is viral marketing? Why do firms use it?

How does inflation affect purchasing power?

Companies that continue to act unethically (especially in the area of accounting) will most likely

Which is the best explanation for why standard of living only increases through productivity?

When Microsoft introduced Encarta, it caused the sale of hard copy encyclopedias sold by Encyclopedia Britannica to drop sharply. This is an example of which of Porter's five forces?

Which of the following would not likely be a consequence of a recession?

What is a poison pill?

Porter's five forces model describes five important forces that cause managers to make mistakes when marketing new products.

Which of the following would be included in the gross national product of Canada?

How is Porter's five forces model useful?

Don is unemployed because of a downturn in economic activity; this is an example of ________ unemployment.

Describe three advantages of outsourcing.

Distributors who are in a grocery store restocking shelves are normally considered part of the ________ rather than the ________.

Company A and Company F have been in direct competition for many years. Recently, an announcement was made of a merger between the two companies. This would be a

________ refers to the total quality and quantity of goods and services that a country's citizens can purchase with the currency used in their economic system.

The main measure of growth in an economic system is

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

unemployment results because workers lack the right skills, while unemployment results when people are temporarily out of work while they are looking for a new job.

Distributors who are in a grocery store restocking shelves are normally considered part of the rather than the .