Intro Business: Exam Prep: Class

TSX stands for Toronto Stock Exchange.

Demographics is the study of obvious characteristics that categorize human beings, which could include

When goods are produced and sold within the same country, the transaction is referred to as

A worker’s basic rights for health and safety when working include:

a product or service produced in one country and sold in another

Ethical business practices involve ignored the laws and regulations 

Four standard rules for creating good advertising are attract attention, gain interest, build desire, and get action

all the activities in getting goods and services from the businesses that produce them to the consumers who purchase it

developing land, cities, businesses, and communities that meets the needs of the present without compromising the future

The name of the raw materials that go into a product.

Many high-tech jobs, customer support services and bookkeeping services are outsourced.

The department in a business that is responsible for the hiring, training, and professional development of staff

a paid-for promotion of a business’s goods and services over a variety of mass media

a good or service brought into a country for sale

Buying or selling shares or stocks of a company based on confidential information not available to the general public

A person who has his or her first babysitting job would fit into this category.

An autocratic leader provides opportunities for employees to contribute to the decision-making process.

a good or service that is not necessary for survival

Creating an image in the marketplace can cost a business anywhere from nothing to hundreds of thousands of dollars.

Lower production costs decrease profits

The game basketball was invented by Jacques Plante

The goals of business include

When dealing with an ethical dilemma, it helpful to answer this question, “Who will be helped or hurt by what you do?”

Canada has trading partners all over the world, but it's number one trading partner is China. 

 Workplace safety is unnecessary because no one has ever been killed at work.

The North American Free Trade Agreement (NAFTA) is made up of which countries?

a business with one owner

 The international market is 1.5 times the size of the domestic market of Canada

Money to run a sole-proprietorship may come from

Shopping on Amazon refers to what channel of distribution

a good or service that is necessary for survival

The four P’s of marketing are

Which of the following is considered a good rather than a service?

Improving productivity is important in a business as long as it does not 

happens when an employee informs officials or the public about an illegal or ethical violation

 Labour is the least expensive component in the production of goods and services for businesses.

The fraud that involves a person who recruits others in order to receive more money is called a 

 One of the purposes of accounting is to provide information and reports for owners and managers

Canada’s top 4 exports by country are

The owner may have to pay the debts of the business from his/her personal money or by selling the family home

Which statement is false about co-operative (co-op)

Which of the following would be an example of a not-for-Profit or non- profit organization?

Managers are people who get things done by directing individual and teams.

is considered to be the rate at which employees leave the business for a variety of reasons.

A form of fraud where a person violates a trust by moving funds into their account instead of the correct account

 the hidden cost of offshore outsourcing, it has a negative impact on people or the environment

a business that has been granted legal status with rights, privileges and liabilities that are distinct from workers

is a type of accounting fraud in which an accountant or senior executive invents phony accounts and redirects money

occurs when a country earns more from exports than it pays for imports

With a corporation, the more shares a shareholder has, the more votes they have in the business’s decision making.

business licenses the rights to its name, operating procedures, designs, and business expertise to another person

The formula for profit is:

The roles of marketing include

Stages of the production process include:

Some ethical dilemmas facing society and businesses could include one or more of the following.

A homeless man robs a bank because he is hungry. This action is a result of:

Identify the one activity below that is not about marketing.

If a company invests in machinery, office buildings, and new computer equipment, they are investing in

a short catchy phrase that is always attached to the company’s name and logo

Kleenex vs. Puffs facial tissues is an example of indirect competition.

There is no real difference between low skilled labour and skilled labour

Happy employees are more productive than unhappy ones.

Which of the following is part of a product’s image? 

Which of the following is the highest form of brand equity in the marketplace.

Corporate Social Responsibility is a business practice that is mandated by law for all businesses operating in Canada.

One advantage of running a Sole Proprietorship is the following?

Competition keeps prices high

The process used to ensure that a product conforms to standards set by a company or by an industry is known as

refers to a physical presence of a business in a building or other structure

The piece of legislation that outlines an employee’s minimum rights in the workplace is called the

The level of management that includes presidents and chief executive officers is called?

The practice of hiring service providers from countries where labour costs are lower is called

using new technology, materials, or processes to improve existing products, or how they are produced and distributed

Dismissals is a nice way of saying the person was fired. 

 A patent gives the holder the sole right to make, use, or sell an invention.

A business is likely to succeed if

In the International Business Unit, USMCA is an acronym for ?

Dr. Frederick Banting and Dr. Charles best invested what? 

The main reason that countries develop trade agreements with one another is to

 The leader who is prone to take control of the situation and not allow employees to share their ideas is known as a

Since Canadian law dictates acceptable business behaviour, it is impossible for companies to behave in an unethically

the quantity of a good or service that consumers are willing and able to buy at a particular price

 product that is extremely popular for a short period of time,  can generate a lot of money in a short period of time

The leader who is laid back and who leaves the employees alone to do their jobs is known as a

Discrimination is denying a qualified individual an interview, job, or promotion based on his or her religion & gender

The biggest accounting scandal ever, involved Martha Stewart.

a business owned by two or more people

In the International Business Unit, NAFTA is an acronym for

Another name for natural resource industries is primary industries.

Attracting applicants to apply for a job, and creating an applicant pool (group of qualified candidates

The standards for the quality of imported goods that are set so high to discourage foreign competition are called

The tax or custom duty that is imposed on certain types of imports is known as a

Which of the following is considered to be a natural resource?

Is someone who is willing to take a risk in order to start a business venture.

An idea-driven enterprise is one that you create as a result of an invention or innovation.

Straight commission is a form of compensation that is based solely on the employee’s sales.

The money a business received from the sale of a product or service

A document a business created to explain how employees should respond to ethical situations.

Environmental degradation occurs when nature’s resources are being consumed faster than nature can replenish them.

 Taking advantage of robotics and automated systems will increase productivity