(Test Bank) The Future of Business

Hartt,Althouse,Allan,

Business

Test Bank

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Test Bank for The Future of Business, The downloadable file consists of 406 pages, and the total size of the file is 3.67 MB. Purchase now only for highly discounted price.

Author(s): Hartt, Althouse, Allan

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Future of Business ED.V Christopher Hartt Norm Althouse Laura Allan Test bank 2021 NETA ASSESSMENT Test Bank to accompany Fourth E dition prepared by Mike Wade Seneca College ii NETA Assessment: Test Bank to accompany The Future of Business , Fourth Edition By Norm R. Althouse, Laura A. Allan, and Christopher M. Hartt Test Bank prepared by Mike Wade, Seneca College NETA copy editor: Lisa Sparks Available on Instructor’s Resource CD ISBN 0176617280 and at www.nelson.com/futureofbusiness4e COPYRIGHT ©2014 by Nelson Education Ltd. Nelson is a registered trademark used herein under licence. All rights reserved. For more information contact Nelson, 1120 Birchmount Road, Toronto, Ontario M1K 5G4. Or you can visit our Internet site at www.nelson.com. ALL RIGHTS RESERVED. No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means —graphic, electronic, or mechanical, including photocopying, recording, taping, web distribution or information storage and retri eval systems —without the written permission of the publisher iii TABLE OF CONTENTS PART 1: The Business Environment Chapter 1: Politics: Governments’ Roles ................................ ................................ ......... 1-1 Chapter 2: Economics: Evolving Systems ................................ ................................ ....... 2-1 Chapter 3: Social: Society, Corporate Responsibility, and Making Ethical Decisions ................................ ................................ ................................ .......................... 3-1 Chapter 4: Technology: Managing Information for Business Success ............................ 4-1 Chapter 5: International: The Global Marketplace ................................ .......................... 5-1 PART 2: Building a Business Chapter 6: Entrepreneurship and Smal l Business ................................ ............................ 6-1 Chapter 7: Analyzing the Business ................................ ................................ .................. 7-1 Chapter 8: Forms of Business Ownership ................................ ................................ ....... 8-1 PART 3 : Business Management Chapter 9: Management and Leadership in Today’s Organizations ................................ 9-1 Chapter 10: Designing Organizational Structures ................................ ......................... 10-1 Chapter 11 : Motivating Employees ................................ ................................ ............... 11-1 PART 4 : Functional Areas of Business Chapter 12: Managing Human Resources and Labour Relations ................................ .. 12-1 Chapter 13: Marketing: The Customer Focus ................................ ................................ 13-1 Chapter 14 : Creating Marketing Strategies ................................ ................................ .... 14-1 Chapter 15: Achieving World -Class Operations Man agement ................................ ..... 15-1 Chapter 16: Accounting for Financial Success ................................ .............................. 16-1 Chapter 17 : Understanding Money and the Canadian Financial System ...................... 17-1 Chapter 18 : Finance: Maximizing the Value ................................ ................................ . 18-1 iv PREFACE In most post-secondary courses , a large percentage of student assessment is based on multiple - choice testing. Many instructors use multiple -choice reluctantly, believing that it is a methodology best used for testing what a student remembers rather than what she or he has learned . Nelson Education Ltd. understands that a good quality multiple -choice test bank can provide the means to measure higher -level thinking skills as well as recall . Recognizing the importance o f multiple -choice testing in today’s classroom, we have created NETA —the Nelson Education Teaching Advantage program —to ensure the value of our high quality test banks. The NETA program was created in partnership with David DiBattista , a 3M National Teach ing Fello w, professor of psychology at Brock University , and researcher in the area of multiple - choice testing . NETA ensures that subject -matter experts who author test banks have had training in two areas: avoiding common errors in test construction, and developing multiple - choice test questions that “get beyond remembering” to assess higher -level thinking. All NETA test banks include David DiBattista’s guide for instructors, “Multiple Choice Tests: Getting Beyond Remembering.” Thi s guide has been designed to assist you in using Nelson test banks to achieve your desired outcomes in your course . The Test Bank for Althouse/Allan/Hartt, The Future of Business , Fourth Edition has been revised for Canadian students by Mike Wade, Seneca College . The multiple -choice questions were written and edited to conform to NETA guidelines, which emphasize the development of higher -order thinking and the effective construction of questions. NETA principles of question construction help eliminate ambiguity, arguable answers, guesswork, and unconscious cues to test-savvy students, resulting in a test that accurately reflects student understanding. The Test Bank offers o ver 2100 questions , including about 1386 multiple choice, about 465 true/false, and about 261 short answer questions. In addition to providing a variety of q uestions related to each chapter objective, this test bank also employs a series of tags that can help design effective, balanced tests by the measure of course outcomes. All of the tags are included with the question in the test bank. These tags include:  ANS: The correct answer. (Suggested an swers are provided for the short answer questions.)  PTS: T he number of points an instructor can assign for each question. The default is 1 point. v  BLM: The category from Bloom ’s taxonomy for learning (Remember or Higher Order). This category is included to assist instructors in assessing student’s higher -order cognitive skills .  OBJ: The related learning objective (or objectives) in the text.  REF: The related page number in the text. The Computerized Test Bank All items from this Test Bank are also available in ExamView®, a computerized testing package with online capabilities. ExamView® helps you create, customize and deliver both print and online tests in minutes. Its “what you see is what you get” interface and ea sy-to-use test wizard guide you step -by-step through the test creation process. The ExamView® Test Bank files and software are included on the Instructor’s Resource CD in Windows PC and Macintosh platforms (ISBN 0176617280 ). Copyright © 2014 Nelson Education Ltd. 1-1 CHAPTER 1 —POLITICS: GOVERNMENTS’ ROLES MULTIPLE CHOICE 1. Which of the following terms best describes an organization that provides goods and services in an effort to earn a profit? a. a not -for-profit b. the government c. a charity d. a business ANS: D PTS: 1 REF: 12 OBJ: 1 BLM: Remember 2. What do gasoline for a car, ketchup for french fries, and a lady’s scarf have in common? a. They are services. b. They are goods. c. They are “mixed message” products. d. They are all in the growth stag e of their product life cycle. ANS: B PTS: 1 REF: 12 OBJ: 1 BLM: Higher order 3. What do Uno’s Pizzeria and LensCrafters have in common? a. Their products are examples of intermediate goods. b. Their products are a mix of goods and services. c. They offer pure goods. d. They provide pure services. ANS: B PTS: 1 REF: 12 OBJ: 1 BLM: Higher order 4. Body soap, a box of rice, and olive oil are examples of what? a. goods b. services c. convenience products d. actual products ANS: A PTS: 1 REF: 12 OBJ: 1 BLM: Higher order 5. Which term refers to the products and goods available to a population for a period of time? a. economic growth b. entrepreneurship c. quality of life d. standard of living ANS: D PTS: 1 REF: 12 OBJ: 1 BLM: Remember Chapter 1 Politics: Governments ’ Roles Copyright © 2014 Nelson Education Ltd. 1-2 6. People living in Okinawa, Japan, have the longest life spans in the world. Researchers have looked at many factors that contribute to their longevity. They have found that the people have a very high general level of happiness. This is referr ed to as which of the following? a. standard of living b. quality of life c. self-actualization d. contentment ANS: B PTS: 1 REF: 12 OBJ: 1 BLM: Higher Order 7. Which of the following is one of the criteria used to measure quality of life? a. political stability and security b. GDP c. unemployment d. level of democracy ANS: A PTS: 1 REF: 12 OBJ: 1 BLM: Higher Order 8. ABC company has been exploring for gold in the Democratic Republic of Congo base d on a very promising sample size. The infrastructure is very poor there and they have to fly all their workers in to remote parts of the jungle to explore for gold. If they discover a large deposit, it will be very lucrative for the company but there is a high probability that the sample could be from an area that has very little gold. What is the term to describe their potential for losing time and money on this project? a. risk b. capital loss c. asset right off d. liability ANS: A PTS: 1 REF: 12 OBJ: 1 BLM: Higher Order 9. Which of the following best describes the situation when expenses are lower than revenue for a business? a. risk b. profit c. surplus d. loss ANS: B PTS: 1 REF: 13 OBJ: 1 BLM: Higher Order Chapter 1 Politics: Governments ’ Roles Copyright © 2014 Nelson Education Ltd. 1-3 10. Who do not -for-profit organizations work hand -in-hand with? a. churches b. investment banks c. businesses d. universities ANS: C PTS: 1 REF: 13 OBJ: 1 BLM: Higher Order 11. Types of not -for-profit organizations include which of the following? a. book stores b. museums c. movie theatres d. hockey rinks ANS: B PTS: 1 REF: 13 OBJ: 1 BLM: Higher Order 12. In which area of society do not -for-profit organizations play a critical role? a. the media b. the community c. the stock market d. the government ANS: B PTS: 1 REF: 13 OBJ: 1 BLM: Higher Order 13. What are not -for-profit organizations commonly known for supporting? a. politicians b. community service c. companies d. sports teams ANS: B PTS: 1 REF: 13 OBJ: 1 BLM: Higher Order 14. Not-for-profit organizations are measured by different standards than for -profit businesses. Who is responsible for regulating these organizations? a. their customers b. their vendors c. their suppliers d. the government ANS: D PTS: 1 REF: 13 OBJ: 1 BLM: Higher Order Chapter 1 Politics: Governments ’ Roles Copyright © 2014 Nelson Education Ltd. 1-4 15. What are the three levels of government in Canada? a. federal, provincial, municipal b. federal, state, city c. country, province, city d. country, province, municipality ANS: A PTS: 1 REF: 13 OBJ: 2 BLM: Remember 16. Which of the following does the federal government have authority over? a. defence b. education c. health care d. garbage ANS: A PTS: 1 REF: 13 OBJ: 2 BLM: Remember 17. Which of the following does the federal government have authority over? a. health care b. education c. criminal law d. roads ANS: C PTS: 1 REF: 13 OBJ: 2 BLM: Remember 18. Which of the following does the federal government have authority over? a. roads b. education c. health care d. employment insurance ANS: D PTS: 1 REF: 13 OBJ: 2 BLM: Remember 19. Which of the following does the provincial government have authority over? a. roads b. education c. trade regulation d. employment insurance ANS: B PTS: 1 REF: 13 OBJ: 2 BLM: Remember Chapter 1 Politics: Governments ’ Roles Copyright © 2014 Nelson Education Ltd. 1-5 20. Which of the following does the provincial government have authority over? a. criminal law b. health care c. trade regulation d. defence ANS: B PTS: 1 REF: 13 OBJ: 2 BLM: Remember 21. Which jurisdiction has the responsibility for education? a. federal b. provincial c. municipal d. community ANS: B PTS: 1 REF: 13 OBJ: 2 BLM: Higher Order 22. Labour laws are controlled by which level of government? a. federal b. provincial c. municipal d. community ANS: B PTS: 1 REF: 13 OBJ: 2 BLM: Higher Order 23. Which of the following does the municipal government have authority over? a. education b. water c. trade regulation d. health care ANS: B PTS: 1 REF: 14 OBJ: 2 BLM: Remember 24. Which of the following does the municipal government have authority over? a. health care b. sewers c. education d. trade ANS: B PTS: 1 REF: 14 OBJ: 2 BLM: Remember Chapter 1 Politics: Governments ’ Roles Copyright © 2014 Nelson Education Ltd. 1-6 25. Who is responsible for ensuring that public resources have been properly allocated? a. the government tax department b. the police c. the government auditor d. the government accountants ANS: C PTS: 1 REF: 14 OBJ: 2 BLM: Higher Order 26. The federal government of Canada collects money from all the provinces and then redistributes money from rich provinces to poorer ones. Alberta is making a lot of money right now due to the increased production in the Athabasca Tar Sands and the high price of oil. Some of the tax money is going from Alberta to Quebec via the federal government. What is the term to describe this? a. redistribution payments b. transfer payments c. transfer assistance d. rebalancing resource wealth ANS: B PTS: 1 REF: 14 OBJ: 3 BLM: Higher Order 27. What is the name of one of the specific programs used to equalize the wealth across the country? a. Canada Equalization Transfer b. Canada Social Transfer c. Canada Education Transfer d. Canadian Province Balance ANS: B PTS: 1 REF: 14 OBJ: 3 BLM: Higher Order 28. Bylaws are controlled by which level of government? a. federal b. provincial c. municipal d. community ANS: C PTS: 1 REF: 14 OBJ: 2 BLM: Higher Order Chapter 1 Politics: Governments ’ Roles Copyright © 2014 Nelson Education Ltd. 1-7 29. George is a maple syrup farmer in Northern Ontario. As there are a lot of other maple syrup farmers in Canada the market is saturated. George wants to sell his maple syrup internationally but does not know how to go about it. He hears that the government w ill assist Canadian companies looking to export. Which level of government will assist George? a. federal b. provincial c. municipal d. city ANS: A PTS: 1 REF: 15 OBJ: 3 BLM: Higher Order 30. Which of the following government agencies enforces the laws regulating unfair competition? a. Business Practices Bureau b. Fair Trade Agency c. Competition Bureau d. Anti-Monopoly Bureau ANS: C PTS: 1 REF: 15 OBJ: 3 BLM: Higher Order 31. To stimulate competition and protect both consumers and workers, what does the federal government do? a. It places heavy taxes on companies in monopolistic competition. b. It creates business systems to meet the needs of all consumers. c. It creates regulations to intervene in the free market. d. It places limits on international trade in order to stimulate domestic production. ANS: C PTS: 1 REF: 15 OBJ: 3 BLM: Higher Order 32. Jack runs a road construction company. He builds roads into peoples cottages in Ontario. This is only a small portion of his business though as there are few cottagers that can afford to build a private road. Who then would George rely on for most of his r evenues? a. corporations b. individuals c. government d. not-for-profits ANS: C PTS: 1 REF: 15 OBJ: 3 BLM: Higher Order 33. A patent gives inventors exclusive rights to their inventions for how long? a. 20 months b. 17 years c. 20 years d. the lifetime of the inventor plus 50 years ANS: C PTS: 1 REF: 16 OBJ: 4 BLM: Remember Chapter 1 Politics: Governments ’ Roles Copyright © 2014 Nelson Education Ltd. 1-8 34. Which of the following protects the original work of authors and artists (e.g., their books, photos, or cartoons)? a. trademark b. copyright c. the uniform commercial code d. patent ANS: B PTS: 1 REF: 16 OBJ: 4 BLM: Remember 35. The Nike Swoosh and the Golden Arches of McDonald’s are protected by which of the following? a. trademark b. patent c. copyright d. commercially protected symbol ANS: A PTS: 1 REF: 16 OBJ: 4 BLM: Remember 36. Who owns the copyright of a cartoon character created by an employee of a company as part of their normal job responsibilities? a. the employee who created the cartoon character b. the employer of the cartoon character’s creator c. all of the employees that worked on the cartoon character d. the union that represents the employee ANS: B PTS: 1 REF: 16 OBJ: 4 BLM: Higher Order 37. The intent of a patent is to do which of the following? a. increase competition in the marketplace b. reward innovation and hard work of inventors c. slow the growth of monopolies d. encourage copycat inventions ANS: B PTS: 1 REF: 16 OBJ: 4 BLM: Higher Order 38. A private wrong that results in physical or mental harm to an individual or results in damage to that person’s property is referred to as which of the following? a. tort b. punitive judgment c. felony d. misdemeanour ANS: A PTS: 1 REF: 18 OBJ: 4 BLM: Remember