Question 1

The socio-cultural environment describes

Accepted Answer

A)  the relationship between government and unions. 
B)  the relationship between business and government. 
C)  the relationship between international and domestic corporations. 
D)  the customs,values,attitudes,and demographic characteristics of the society in which an organization functions. 
E)  the intensity of the competition in an industry. 
A)  the relationship between government and unions. 
B)  the relationship between business and government. 
C)  the relationship between international and domestic corporations. 
D)  the customs,values,attitudes,and demographic characteristics of the society in which an organization functions. 
E)  the intensity of the competition in an industry.

Question 2

The consumer price index

Accepted Answer

A)  measures inflation by measuring price increases. 
B)  measures price increases but not changes in consumer purchasing patterns. 
C)  is not able to measure deflation. 
D)  continues to include the same items in the typical "basket of goods" so that price increases in previous years can be compared to price increases in the current year. 
E)  is no longer accepted as a good measure of price increases. 
A)  measures inflation by measuring price increases. 
B)  measures price increases but not changes in consumer purchasing patterns. 
C)  is not able to measure deflation. 
D)  continues to include the same items in the typical "basket of goods" so that price increases in previous years can be compared to price increases in the current year. 
E)  is no longer accepted as a good measure of price increases.

Question 3

Profits from a Canadian-owned automobile factory in Brazil are included Brazil's GNP,but not its GDP.

Accepted Answer

A) True 
 B)False

Question 4

The advent of the iPod saw an increase in the downloading of music from the internet.Music artists are noticing a decrease in the sales of their CDs,which is an effect of which dimension of the external environment?

Accepted Answer

A)  Technological 
B)  Economic 
C)  Socio-cultural 
D)  Political 
E)  Global 
A)  Technological 
B)  Economic 
C)  Socio-cultural 
D)  Political 
E)  Global

Question 5

Canada's GDP in 2010 was about

Accepted Answer

A)  $575 billion. 
B)  $1 trillion. 
C)  $1.6 trillion. 
D)  $2.7 trillion. 
E)  $8.7 trillion. 
A)  $575 billion. 
B)  $1 trillion. 
C)  $1.6 trillion. 
D)  $2.7 trillion. 
E)  $8.7 trillion.

Question 6

The total value of all goods and services produced by a country in a 12-month period regardless of where the factors of production are located is known as

Accepted Answer

A)  Net National Product. 
B)  Net National Income. 
C)  Net National Profit. 
D)  Gross National Product. 
E)  Gross Domestic Product. 
A)  Net National Product. 
B)  Net National Income. 
C)  Net National Profit. 
D)  Gross National Product. 
E)  Gross Domestic Product.

Question 7

What is a vertical merger?

Accepted Answer

A vertical merger occurs when

Question 8

A(n)________ is a merger to two firms that have previously had a buyer-seller relationship.

Accepted Answer

A)  hostile take over 
B)  conglomerate merger 
C)  friendly take over 
D)  vertical merger 
E)  enterprise merger 
A)  hostile take over 
B)  conglomerate merger 
C)  friendly take over 
D)  vertical merger 
E)  enterprise merger

Question 9

John is experiencing __________ unemployment because he is out of work temporarily while looking for a new job,while Sally is experiencing _______ unemployment because she is out work because of a downturn in the business cycle.

Accepted Answer

A)  seasonal; structural 
B)  structural; seasonal 
C)  frictional; cyclical 
D)  cyclical; frictional 
E)  seasonal; cyclical 
A)  seasonal; structural 
B)  structural; seasonal 
C)  frictional; cyclical 
D)  cyclical; frictional 
E)  seasonal; cyclical

Question 10

Product life cycles are somewhat longer than they were 20 years ago because products have become more complex.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is the best definition of outsourcing?

Accepted Answer

A)  Any activity that adds value to some input by transforming it into an output for an internal or external customer 
B)  An approach by which firms move away from department-oriented organization and toward process-oriented team structures that cut across old departmental boundaries 
C)  The strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials and resources 
D)  The strategy of using the internet and word-of-mouth marketing to spread product information 
E)  The strategy of owning the means by which an organization produces goods or services 
A)  Any activity that adds value to some input by transforming it into an output for an internal or external customer 
B)  An approach by which firms move away from department-oriented organization and toward process-oriented team structures that cut across old departmental boundaries 
C)  The strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials and resources 
D)  The strategy of using the internet and word-of-mouth marketing to spread product information 
E)  The strategy of owning the means by which an organization produces goods or services

Question 12

A product such as bicycles can be marketed in much the same way in Canada and China.

Accepted Answer

A) True 
 B)False

Question 13

A hostile takeover occurs when one organization buys enough of another company's shares to take control of that company even though that company may be opposed to the takeover.

Accepted Answer

A) True 
 B)False

Question 14

Deflation

Accepted Answer

A)  is a period of stagnant prices. 
B)  results when the Bank of Canada lowers interest rates. 
C)  may occur when prices fall as a result of increased industrial productivity. 
D)  cannot happen in a modern industrialized economy. 
E)  is always bad because it means that the economy is not doing well. 
A)  is a period of stagnant prices. 
B)  results when the Bank of Canada lowers interest rates. 
C)  may occur when prices fall as a result of increased industrial productivity. 
D)  cannot happen in a modern industrialized economy. 
E)  is always bad because it means that the economy is not doing well.

Question 15

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 16

Many firms use ________ to provide cafeteria operations for their customers.

Accepted Answer

A)  enterprise management 
B)  disruption management 
C)  outsourcing 
D)  core competencies 
E)  vertical integration 
A)  enterprise management 
B)  disruption management 
C)  outsourcing 
D)  core competencies 
E)  vertical integration

Question 17

Which of the following best describes real GDP?

Accepted Answer

A)  Total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system 
B)  Total quantity of goods and services produced by an economic system 
C)  Total value of all goods and services produced within a given period by a national economy through domestic and international factors of production 
D)  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,or with all components valued at current prices 
E)  Total value of all goods and services produced by a national economy within a given period,calculated to account for changes in currency values and price changes 
A)  Total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system 
B)  Total quantity of goods and services produced by an economic system 
C)  Total value of all goods and services produced within a given period by a national economy through domestic and international factors of production 
D)  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,or with all components valued at current prices 
E)  Total value of all goods and services produced by a national economy within a given period,calculated to account for changes in currency values and price changes

Question 18

The most successful firms are getting leaner by focusing on their core competencies,but these new business models call for ________.

Accepted Answer

A)  environmental management 
B)  unprecedented coordination 
C)  new corporate boundaries 
D)  unprecedented funds 
E)  none of these are correct 
A)  environmental management 
B)  unprecedented coordination 
C)  new corporate boundaries 
D)  unprecedented funds 
E)  none of these are correct

Question 19

The pattern of short-term ups and downs in the economy is known as

Accepted Answer

A)  a recession. 
B)  the business cycle. 
C)  aggregate output. 
D)  gross domestic product. 
E)  economic growth. 
A)  a recession. 
B)  the business cycle. 
C)  aggregate output. 
D)  gross domestic product. 
E)  economic growth.

Question 20

The only real effect of inflation is to increase the purchasing power of a person's money.

Accepted Answer

A) True 
 B)False

The socio-cultural environment describes

The consumer price index

Profits from a Canadian-owned automobile factory in Brazil are included Brazil's GNP,but not its GDP.

The advent of the iPod saw an increase in the downloading of music from the internet.Music artists are noticing a decrease in the sales of their CDs,which is an effect of which dimension of the external environment?

Canada's GDP in 2010 was about

The total value of all goods and services produced by a country in a 12-month period regardless of where the factors of production are located is known as

What is a vertical merger?

A(n)________ is a merger to two firms that have previously had a buyer-seller relationship.

John is experiencing ____ unemployment because he is out of work temporarily while looking for a new job,while Sally is experiencing _ unemployment because she is out work because of a downturn in the business cycle.

Product life cycles are somewhat longer than they were 20 years ago because products have become more complex.

Which of the following is the best definition of outsourcing?

A product such as bicycles can be marketed in much the same way in Canada and China.

A hostile takeover occurs when one organization buys enough of another company's shares to take control of that company even though that company may be opposed to the takeover.

Deflation

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

Many firms use ________ to provide cafeteria operations for their customers.

Which of the following best describes real GDP?

The most successful firms are getting leaner by focusing on their core competencies,but these new business models call for ________.

The pattern of short-term ups and downs in the economy is known as

The only real effect of inflation is to increase the purchasing power of a person's money.

Understanding the Canadian Business System

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Understanding Marketing Processes and Consumer Behaviour

Developing and Promoting Goods and Services

Pricing and Distributing Goods and Services

Understanding Money and Banking

Understanding Securities and Investments

Financial Decisions and Risk Management

Filters

Exam 2: Understanding the Environments of Business

The socio-cultural environment describes

The consumer price index

Profits from a Canadian-owned automobile factory in Brazil are included Brazil's GNP,but not its GDP.

The advent of the iPod saw an increase in the downloading of music from the internet.Music artists are noticing a decrease in the sales of their CDs,which is an effect of which dimension of the external environment?

Canada's GDP in 2010 was about

The total value of all goods and services produced by a country in a 12-month period regardless of where the factors of production are located is known as

What is a vertical merger?

A(n)________ is a merger to two firms that have previously had a buyer-seller relationship.

John is experiencing __________ unemployment because he is out of work temporarily while looking for a new job,while Sally is experiencing _______ unemployment because she is out work because of a downturn in the business cycle.

Product life cycles are somewhat longer than they were 20 years ago because products have become more complex.

Which of the following is the best definition of outsourcing?

A product such as bicycles can be marketed in much the same way in Canada and China.

A hostile takeover occurs when one organization buys enough of another company's shares to take control of that company even though that company may be opposed to the takeover.

Deflation

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

Many firms use ________ to provide cafeteria operations for their customers.

Which of the following best describes real GDP?

The most successful firms are getting leaner by focusing on their core competencies,but these new business models call for ________.

The pattern of short-term ups and downs in the economy is known as

The only real effect of inflation is to increase the purchasing power of a person's money.

Understanding the Canadian Business System

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Understanding Marketing Processes and Consumer Behaviour

Developing and Promoting Goods and Services

Pricing and Distributing Goods and Services

Understanding Money and Banking

Understanding Securities and Investments

Financial Decisions and Risk Management

Filters

John is experiencing ____ unemployment because he is out of work temporarily while looking for a new job,while Sally is experiencing _ unemployment because she is out work because of a downturn in the business cycle.