Question 1

Saving energy and producing products that cause less harm to the environment is called climate change.

Accepted Answer

A) True 
 B)False

Question 2

Productivity is the amount of output that is generated given the amount of input.

Accepted Answer

A) True 
 B)False

Question 3

As a factor of production,the term capital includes:

Accepted Answer

A)  stocks and bonds issued by corporations.
B)  natural resources such as land and water.
C)  tools,machinery,and buildings.
D)  services provided by the government that enable businesses to be more productive.E) A) and B)
F) B) and C)

Question 4

A business incurs a ___________ if its costs and expenses exceed its revenues.

Accepted Answer

A)  loss
B)  liability
C)  debit
D)  dividendE) B) and C)
F) B) and D)

Question 5

To be implemented successfully,empowerment requires that employees are better trained.

Accepted Answer

A) True 
 B)False

Question 6

According to Peter Drucker,the most important factor of production in our economy will be:

Accepted Answer

A)  labour.
B)  capital.
C)  knowledge.
D)  entrepreneurship.E) B) and C)
F) B) and D)

Question 7

Today,more than ever,Canadian businesses require more workers in industries that produce goods.

Accepted Answer

A) True 
 B)False

Question 8

The chance an entrepreneur takes of losing time and money on a business venture that is not profitable is known as the opportunity cost of the business.

Accepted Answer

A) True 
 B)False

Question 9

A continuously changing global environment creates a need for continuous learning.

Accepted Answer

A) True 
 B)False

Question 10

Explain what a stakeholder is.Identify the different types of stakeholders.

Accepted Answer

Stakeholders are all the people who stan...

Question 11

In Canada,most of the offshoring that occurs is with what country?

Accepted Answer

A)  China
B)  India
C)  The United States
D)  EnglandE) None of the above
F) C) and D)

Question 12

The Internet has hurt the spread of globalization.

Accepted Answer

A) True 
 B)False

Question 13

Taxes and government regulations are part of the legal environment in which businesses operate.

Accepted Answer

A) True 
 B)False

Question 14

Businesses that produce and sell tangible products such as appliances,furniture,and clothing are part of the:

Accepted Answer

A)  manufacturing sector.
B)  knowledge-based sector.
C)  service sector.
D)  production sector.E) B) and C)
F) A) and D)

Question 15

Quality of life refers to:

Accepted Answer

A)  the outsourcing of job functions.
B)  the amount of good and services people can buy.
C)  addressing the needs of all stakeholders when making a business decision.
D)  the general well-being of a society.E) C) and D)
F) B) and C)

Question 16

Samir is a financial planner who helps people find ways to save for retirement and lower their taxes.Samir is employed in the service sector of the economy.
The service sector produces intangible goods.Financial planning is one type of service.

Accepted Answer

A) True 
 B)False

Question 17

What is demography? Identify several demographic trends in Canada and discuss how they will impact Canadian businesses.

Accepted Answer

Demography is the statistical study of p...

Question 18

Over half the families in Canada are two-income families.This has decreased the amount of time couple have for themselves or for their families.What are some of the ways that big companies are helping time-pressed employees?

Accepted Answer

A)  flexible work schedules
B)  increased vacation
C)  more pay
D)  company paid baby-sittersE) All of the above
F) A) and D)

Question 19

Companies have responded to their diverse customer base by hiring a more diversified work force.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following describes a reason for the recent job growth in the service sector?

Accepted Answer

A)  Large manufacturing firms seeking efficiency have contracted out an increasing number of services.
B)  The Canadian economy has been growing over the past decade.
C)  Offshoring has led to service industry.
D)  the increasing interest in the environment has led to the creation of service oriented jobs.There has been little change in the number of jobs in the service sector in recent years,however employment is expected to increase rapidly.E) All of the above
F) C) and D)

Exam 1: Taking Risks and Making Profits Within the Dynamic Business Environment

The chance an entrepreneur takes of losing time and money on a business venture that is not profitable is known as the opportunity cost of the business.

Correct AnswerverifiedShow Answer

Today,more than ever,Canadian businesses require more workers in industries that produce goods.

Correct AnswerverifiedShow Answer

Taxes and government regulations are part of the legal environment in which businesses operate.

Correct AnswerverifiedShow Answer

As a factor of production,the term capital includes:

Correct AnswerverifiedShow Answer

Samir is a financial planner who helps people find ways to save for retirement and lower their taxes.Samir is employed in the service sector of the economy. The service sector produces intangible goods.Financial planning is one type of service.

Correct AnswerverifiedShow Answer

Which of the following describes a reason for the recent job growth in the service sector?

Correct AnswerverifiedShow Answer

According to Peter Drucker,the most important factor of production in our economy will be:

Correct AnswerverifiedShow Answer

Over half the families in Canada are two-income families.This has decreased the amount of time couple have for themselves or for their families.What are some of the ways that big companies are helping time-pressed employees?

Correct AnswerverifiedShow Answer

Saving energy and producing products that cause less harm to the environment is called climate change.

Correct AnswerverifiedShow Answer

Quality of life refers to:

Correct AnswerverifiedShow Answer

What is demography? Identify several demographic trends in Canada and discuss how they will impact Canadian businesses.

Correct AnswerverifiedDemography is the statistical study of p...View AnswerShow Answer

A business incurs a ___________ if its costs and expenses exceed its revenues.

Correct AnswerverifiedShow Answer

Companies have responded to their diverse customer base by hiring a more diversified work force.

Correct AnswerverifiedShow Answer

Explain what a stakeholder is.Identify the different types of stakeholders.

Correct AnswerverifiedStakeholders are all the people who stan...View AnswerShow Answer

Productivity is the amount of output that is generated given the amount of input.

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The Internet has hurt the spread of globalization.

Correct AnswerverifiedShow Answer

In Canada,most of the offshoring that occurs is with what country?

Correct AnswerverifiedShow Answer

A continuously changing global environment creates a need for continuous learning.

Correct AnswerverifiedShow Answer

Businesses that produce and sell tangible products such as appliances,furniture,and clothing are part of the:

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To be implemented successfully,empowerment requires that employees are better trained.

Correct AnswerverifiedShow Answer

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Demography is the statistical study of p...
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Stakeholders are all the people who stan...
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