Canadian Business Final Exam Review Questions With Complete Solutions
7 views 0 purchase
Course
Canadian Business
Institution
Canadian Business
Stake holders importance correct answer: o Ppl who are affected by the business
o Stakeholders are affected by what businesses do. Non-profit organizations raise funds and use them to support charitable activities.
Importance of Entrepreneurship correct answer: new products, improve economic ...
canadian business final exam review questions with
canadian business final exam review
importance of entrepreneurship
service sector replaced manufacturi
Written for
Canadian Business
All documents for this subject (6)
Seller
Follow
Classroom
Reviews received
Content preview
Canadian Business Final Exam Review
Questions With Complete Solutions
Stake holders importance correct answer: o Ppl who are
affected by the business
o Stakeholders are affected by what businesses do. Non-profit
organizations raise funds and use them to support charitable
activities.
Importance of Entrepreneurship correct answer: new products,
improve economic wealth, improve market competition, further
research
Factors of Production correct answer: The five Factors of
Production include: land, labour, capital goods,
entrepreneurship, and knowledge.
service sector replaced manufacturing correct answer: o The
service sector has replaced manufacturing as the principal
provider of jobs due to technology, outsourcing and specialized
industries ex. health, education, legal services
Economics correct answer: the study of how society manages
its scarce resources
Capitalism correct answer: An economic system based on
private ownership of capital
, Free markets correct answer: Markets that are allowed to
operate without undue interference from the government
Socialism/Communism correct answer: o Socialism based on
the premise that some businesses should be owned by the
government.
o Communism, the government owns almost all major
production facilities and dictates what gets produced and by
whom.
Mixed Economy of Canada correct answer: part capitalist and
part socialist, some businesses are privately owned, but taxes
tend to be high to distribute income more evenly among the
population
Importance of Exports/Imports correct answer: Creates jobs,
bring new potential for sales, may increase countries profits,
new products, absolute advantage
Reaching Global Markets correct answer: Exporting, licensing,
franchising, contract manufacturing, joint ventures, strategic
alliances, and foreign direct investment.
multinational corporation correct answer: An organization that
manufactures and markets products in many different countries
and has multinational stock ownership and multinational
management
7 categories correct answer: Crown Corporations
Laws and Regulations
The Bank of Canada
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Classroom. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
