Question 1

The difference between a country's exports and its imports is known as its

Accepted Answer

A)  balance of trade. 
B)  national debt. 
C)  net national income. 
D)  balance of payments. 
E)  net national profit. 
A)  balance of trade. 
B)  national debt. 
C)  net national income. 
D)  balance of payments. 
E)  net national profit.

Question 2

List the three key goals of the Canadian economic system.

Accepted Answer

economic growth,econ

Question 3

Which of the following is not an example of a factor in the socio-cultural environment?

Accepted Answer

A)  Prepackaged chili is more popular in southwestern U.S.states than in the U.S.northeast. 
B)  Consumers in China perceive bicycles primarily as a mode of transportation,while consumers in Canada perceive bicycles as recreational items. 
C)  Companies are more likely to set up foreign operations in countries with stable political and economic systems. 
D)  McDonald's has added salads and other low-fat foods to its menu. 
E)  Many people in the Middle East are unwilling to work in food service operations. 
A)  Prepackaged chili is more popular in southwestern U.S.states than in the U.S.northeast. 
B)  Consumers in China perceive bicycles primarily as a mode of transportation,while consumers in Canada perceive bicycles as recreational items. 
C)  Companies are more likely to set up foreign operations in countries with stable political and economic systems. 
D)  McDonald's has added salads and other low-fat foods to its menu. 
E)  Many people in the Middle East are unwilling to work in food service operations.

Question 4

Generally speaking,fiscal policy is more effective than monetary policy.

Accepted Answer

A) True 
 B)False

Question 5

Canada's GDP in 2010 was approximately $6.4 trillion.

Accepted Answer

A) True 
 B)False

Question 6

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.

Question 7

An example of a merger would be the joining of Canadian National Railways with the Illinois Central Railroad.

Accepted Answer

A) True 
 B)False

Question 8

Most successful firms are getting leaner by focusing on their ________,which are the skills and resources with which they compete best and create the most value for owners.

Accepted Answer

A)  viral marketing 
B)  core competencies 
C)  processes 
D)  business process management 
E)  political-legal environment 
A)  viral marketing 
B)  core competencies 
C)  processes 
D)  business process management 
E)  political-legal environment

Question 9

R&D intensity refers to R&D spending as a percentage of a company's sales revenue.

Accepted Answer

A) True 
 B)False

Question 10

With regard to the concepts of budget deficits and the national debt,it is correct to say that

Accepted Answer

A)  these two concepts are essentially identical. 
B)  budget deficits are measured on an annual basis,while the national debt is cumulative over a span of years. 
C)  Canada is the only major industrialized country that has a budget surplus each year. 
D)  budget deficits measure the amount of money that Canada owes its foreign investors. 
E)  budget deficits are more important than the national debt. 
A)  these two concepts are essentially identical. 
B)  budget deficits are measured on an annual basis,while the national debt is cumulative over a span of years. 
C)  Canada is the only major industrialized country that has a budget surplus each year. 
D)  budget deficits measure the amount of money that Canada owes its foreign investors. 
E)  budget deficits are more important than the national debt.

Question 11

With proper management by government,the ups and downs in the business cycle can be avoided.

Accepted Answer

A) True 
 B)False

Question 12

What is inflation and how does it threaten economic stability?

Accepted Answer

Inflation occurs when there are widespre

Question 13

With respect to inflation and deflation,which is correct?

Accepted Answer

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

Question 14

Nominal GDP is more important than real GDP.

Accepted Answer

A) True 
 B)False

Question 15

If Shirley's Subs Inc.purchased Tony's Car Repair Inc.,this would be an example of

Accepted Answer

A)  a horizontal merger. 
B)  a conglomerate merger. 
C)  a spinoff. 
D)  a vertical merger. 
E)  a divestiture. 
A)  a horizontal merger. 
B)  a conglomerate merger. 
C)  a spinoff. 
D)  a vertical merger. 
E)  a divestiture.

Question 16

Which of the following best describes viral marketing?

Accepted Answer

A)  The strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials and resources 
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 owning the means by which an organization produces goods or services 
D)  Any activity that adds value to some input by transforming it into an output for an internal or external customer 
E)  The strategy of using the internet and word-of-mouth marketing to spread product information 
A)  The strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials and resources 
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 owning the means by which an organization produces goods or services 
D)  Any activity that adds value to some input by transforming it into an output for an internal or external customer 
E)  The strategy of using the internet and word-of-mouth marketing to spread product information

Question 17

Describe three advantages of outsourcing.

Accepted Answer

Outsourcing provides a number of advanta

Question 18

In Canada,the private sector accounts for more than half of all R&D expenditures.

Accepted Answer

A) True 
 B)False

Question 19

Full employment means that everyone who wants to work has an opportunity to do so.

Accepted Answer

A) True 
 B)False

Question 20

Purchasing power parity is a principle that states exchange rates are set so that the prices of similar products in different countries are about the same.

Accepted Answer

A) True 
 B)False

The difference between a country's exports and its imports is known as its

List the three key goals of the Canadian economic system.

Which of the following is not an example of a factor in the socio-cultural environment?

Generally speaking,fiscal policy is more effective than monetary policy.

Canada's GDP in 2010 was approximately $6.4 trillion.

The main measure of growth in an economic system is

An example of a merger would be the joining of Canadian National Railways with the Illinois Central Railroad.

Most successful firms are getting leaner by focusing on their ________,which are the skills and resources with which they compete best and create the most value for owners.

R&D intensity refers to R&D spending as a percentage of a company's sales revenue.

With regard to the concepts of budget deficits and the national debt,it is correct to say that

With proper management by government,the ups and downs in the business cycle can be avoided.

What is inflation and how does it threaten economic stability?

With respect to inflation and deflation,which is correct?

Nominal GDP is more important than real GDP.

If Shirley's Subs Inc.purchased Tony's Car Repair Inc.,this would be an example of

Which of the following best describes viral marketing?

Describe three advantages of outsourcing.

In Canada,the private sector accounts for more than half of all R&D expenditures.

Full employment means that everyone who wants to work has an opportunity to do so.

Purchasing power parity is a principle that states exchange rates are set so that the prices of similar products in different countries are about the same.

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

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Exam 2: Understanding the Environments of Business

The difference between a country's exports and its imports is known as its

List the three key goals of the Canadian economic system.

Which of the following is not an example of a factor in the socio-cultural environment?

Generally speaking,fiscal policy is more effective than monetary policy.

Canada's GDP in 2010 was approximately $6.4 trillion.

The main measure of growth in an economic system is

An example of a merger would be the joining of Canadian National Railways with the Illinois Central Railroad.

Most successful firms are getting leaner by focusing on their ________,which are the skills and resources with which they compete best and create the most value for owners.

R&D intensity refers to R&D spending as a percentage of a company's sales revenue.

With regard to the concepts of budget deficits and the national debt,it is correct to say that

With proper management by government,the ups and downs in the business cycle can be avoided.

What is inflation and how does it threaten economic stability?

With respect to inflation and deflation,which is correct?

Nominal GDP is more important than real GDP.

If Shirley's Subs Inc.purchased Tony's Car Repair Inc.,this would be an example of

Which of the following best describes viral marketing?

Describe three advantages of outsourcing.

In Canada,the private sector accounts for more than half of all R&D expenditures.

Full employment means that everyone who wants to work has an opportunity to do so.

Purchasing power parity is a principle that states exchange rates are set so that the prices of similar products in different countries are about the same.

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