Question 1

Businesses that cater to seniors will have what type of prospects?

Accepted Answer

A)  declining
B)  bad
C)  neutral
D)  goodE) B) and C)
F) A) and D)

Question 2

Successful firms follow a customer-driven strategy,as opposed to the management-driven strategy used in the past.

Accepted Answer

A) True 
 B)False

Question 3

Today,the leading firms are in:

Accepted Answer

A)  agricultural
B)  services
C)  auto
D)  productionE) A) and D)
F) A) and B)

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

If a business' costs and expenses are greater than its revenue,it will suffer a loss.

Accepted Answer

A) True 
 B)False

Question 6

The federal privacy law is known as what?

Accepted Answer

A)  CITA
B)  Statistics Canada
C)  PIPEDA
D)  SCEFE) B) and C)
F) A) and B)

Question 7

Business has changed over time,traditionally business was more focused on the product and how to sell it.Today business is more focused on:

Accepted Answer

A)  quality and service.
B)  marketing.
C)  production.
D)  reliability.E) None of the above
F) C) and D)

Question 8

After losing her manufacturing job in the Canadian automobile industry,Juanita has found that well-paid service sector jobs require retraining and further education.

Accepted Answer

A) True 
 B)False

Question 9

The challenge of this century is for organizations to balance,as much as possible, _______.

Accepted Answer

A)  profits and losses
B)  macro and micro economic forces
C)  the needs of all stakeholders
D)  profit vs non-profitE) A) and D)
F) None of the above

Question 10

The example of Don Glenn,a farmer using his computer to compare data from the previous year's harvest with satellite photos of his farm to know which crops are flourishing is an example of what?

Accepted Answer

A)  the differences in wage rates between rural and urban dwellers
B)  the importance of land as a factor of production
C)  the benefits of technology
D)  managers in Canada motivating employees with large pay raisesE) A) and C)
F) A) and D)

Question 11

Employers provide tools and technology for their employees in order to:

Accepted Answer

A)  encourage the private ownership of businesses.
B)  improve their efficiency and productivity.
C)  increase the cost of production and profitability.
D)  to reduce corruption in business and eliminate scandals.E) A) and C)
F) B) and C)

Question 12

Often in business,the greater the risk,the:

Accepted Answer

A)  lower the value provided to society.
B)  lower the expected revenues.
C)  greater the potential reward.
D)  greater the number of stakeholders.E) A) and B)
F) C) and D)

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

Those individuals born in Canada between 1947 and 1966 are referred to as:

Accepted Answer

A)  baby boomers.
B)  echoes.
C)  Generation X.
D)  diversity workers.E) None of the above
F) A) and C)

Question 15

E-business is mostly done with Web technologies.

Accepted Answer

A) True 
 B)False

Question 16

By 2031,seniors will account for nearly what percentage of the Canadian population?

Accepted Answer

A)  2/3
B)  1/4
C)  1/2
D)  1/3E) A) and B)
F) A) and C)

Question 17

The only way a firm can increase its profits is to increase its sales revenue.

Accepted Answer

A) True 
 B)False

Question 18

An effort to please one group of stakeholders eventually pleases all stakeholders.

Accepted Answer

A) True 
 B)False

Question 19

Since the beginning of the 1900s,the agricultural sector of Canada has:

Accepted Answer

A)  produced a consistent output per farm.
B)  experienced a big drop in employment,mainly because of tremendous improvements in efficiency.
C)  become less and less competitive in the global economy.
D)  seen the number of family farms more than double.E) A) and D)
F) B) and D)

Question 20

What is a social entrepreneur?

Accepted Answer

A)  an individual working for a non-profit organization
B)  any new business start-up with social goals
C)  an individual who avoids business principles to start a non-profit organization
D)  an individual who uses business principles to start and manage a non-profit organizationE) B) and D)
F) None of the above

Exam 1: The Dynamic Business Environment

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

Correct AnswerverifiedShow Answer

By 2031,seniors will account for nearly what percentage of the Canadian population?

Correct AnswerverifiedShow Answer

An effort to please one group of stakeholders eventually pleases all stakeholders.

Correct AnswerverifiedShow Answer

The federal privacy law is known as what?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Today,the leading firms are in:

Correct AnswerverifiedShow Answer

The only way a firm can increase its profits is to increase its sales revenue.

Correct AnswerverifiedShow Answer

Successful firms follow a customer-driven strategy,as opposed to the management-driven strategy used in the past.

Correct AnswerverifiedShow Answer

Business has changed over time,traditionally business was more focused on the product and how to sell it.Today business is more focused on:

Correct AnswerverifiedShow Answer

If a business' costs and expenses are greater than its revenue,it will suffer a loss.

Correct AnswerverifiedShow Answer

Those individuals born in Canada between 1947 and 1966 are referred to as:

Correct AnswerverifiedShow Answer

The example of Don Glenn,a farmer using his computer to compare data from the previous year's harvest with satellite photos of his farm to know which crops are flourishing is an example of what?

Correct AnswerverifiedShow Answer

After losing her manufacturing job in the Canadian automobile industry,Juanita has found that well-paid service sector jobs require retraining and further education.

Correct AnswerverifiedShow Answer

Employers provide tools and technology for their employees in order to:

Correct AnswerverifiedShow Answer

The challenge of this century is for organizations to balance,as much as possible, _______.

Correct AnswerverifiedShow Answer

E-business is mostly done with Web technologies.

Correct AnswerverifiedShow Answer

Often in business,the greater the risk,the:

Correct AnswerverifiedShow Answer

Businesses that cater to seniors will have what type of prospects?

Correct AnswerverifiedShow Answer

Since the beginning of the 1900s,the agricultural sector of Canada has:

Correct AnswerverifiedShow Answer

What is a social entrepreneur?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified