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Exam 1: The Dynamic Business Environment

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Question 51

Multiple Choice

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Certain sectors in the Canadian economy have experienced a significant decline in employment.Which of the following best explains this job loss in specific industries?

A) There has been a decline in the productivity of labour in these industries.
B) Workers lost these jobs because worker productivity in the sector increased.
C) Government regulations have eliminated profit opportunities in these industries.
D) The Canadian economy cannot compete in the global environment.

E) B) and C)
F) All of the above

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Question 52

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Stakeholders include customers, employees, shareholders, suppliers, merchants, bankers, government officials, and environmental advocates.

A) True
B) False

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Question 53

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The goal of empowerment in the work environment is to give management more control over the actions of lower-level workers.

Today's Canadian businesses require _______workers in industries that produce goods.

In recent years,many manufacturing firms in Canada have laid off workers.The best explanation of this trend is that:

The subprime mortgage scandal shows:

refers to the amount of output generated with a given amount of input, e.g. ,number of pizzas produced per worker per hour.

All of the following are factors of production except:

A lesson to learn from the story of Ron Joyce,who became a franchisee in the first Tim Hortons,is that to be a successful entrepreneur you need to find something that you love to do.

Stakeholders are all the people who stand to gain or lose by the policies and activities of a business.

The more money businesses create,the more is potentially available to improve the quality of life for everyone.

E-commerce is the buying and selling of products and services by businesses and consumers over the Internet.

Some service firms have been created to provide services that used to be performed by women who were at home and not in the workforce.

Machines,tools,buildings and other means of manufacturing are called:

One of the five factors of production is Capital,which includes machines,tools,buildings,land,money,or whatever else is used in the production of goods.

Crowdsourcing helps businesses to find solutions to challenges.

Non-profit organizations are similar to businesses in that they often provide goods and services that satisfy the needs of society.

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

Countries that keep taxes and regulations to a minimum provide the best environment for competitive businesses.

By 2036,one-half of the population will be Generation Z.