BEP2O1 Economics Basics & Trade Review

Which Ontario law protects the bargaining rights of unionized workers?

The concept that describes how well a country allocates its scarce resources, is called:

Which of the following is not considered to be a barrier or obstacle to conducting international business?

What describes a business’s inability to satisfy all wants & needs due to there not being enough available resources?

What business concept sees an organization recruit a 3rd party supplier to take on some aspect of the business?

The governmental policy of restricting imports and installing trade barriers on other countries, is known as:

What type of business licenses out its brand, products, and operating procedures to other entrepreneurs for a fee?

Who has been Canada's #1 trading partner over the past 100 years.

Which of the following is not considered to be a capital resource?

Small and medium-sized businesses typically have how many employees?

The tariff war of the 1930s helped alleviate the negative impacts of the Great Depression.

The concept where businesses are reliant on each other in order to produce the goods or services that they produce:

The quantity of a good or service that businesses are willing & able to provide within a range of prices is called:

What type of business is owned by its investors who trade shares on the open stock market?

The people who purchase and use goods and services are called:

What Ontario law established the rights of both employees & employers in Ontario?

Which international agreement established in 1948 ushered in a new era for open global trade after World War 2?

The quantity of a good or service that consumers are willing and able to buy at a particular price is referred to as:

The economic trend over the past 35 years has leaned towards protectionism.

What type of business is owned by its members or customers?

What type of business is not out to make a profit, but raises funds for a cause & distributes those funds accordingly?

The businesses that make goods or provide services are referred to as:

The location where both producers and consumers meet to conduct business transactions, is known as:

Which of the following economic policies further contributed to the Great Depression in the 1930s?

Economic resources are also known as: