Introduction to Business Exam Review- BBI2O (Canadian Focus)

Another name for economic resources is

This type of business is often considered more complex than other types of businesses.

The most important selection of criteria used by human resources in the hiring process is to rely on information provided in

A duty to accommodate refers to an employer's obligation to take appropriate steps to eliminate discrimination against employees.

In North America, decision making is typically bottom up.

What is another term for international trade?

What does EFTA stand for?

The members of the G8 usually meet in this season

In terms of grading, Choice is better than Prime

The majority of the ingredient listed on a bag of bread would be natural resources.

Which of the following is not a factor of production

Which of the following is an example of a capital resource.

[blank_start]Supplies[blank_end] are used to maintain the machines that make KitKat chocolate bars

[blank_start]Raw Materials[blank_end] are goods that are used in the manufacturing of other goods.

The commercial market and the consumer market are considered to be the two Cs of Marketing.

Liabilities are debts owed to others and are similar to assets owned by the same person.

Assets for a business would include such things such as cash, accounts payable, supplies, inventory, bank loans, equipment, and land.

If an owner earned $30,000 by the end of the accounting period, which account would deb adjusted

A company begins it`s fiscal year on June 1st. At that time their beginning inventory is $1250. The total goods available for sale for the year was $7250. When they counted their inventory at the end of the year they had $800 worth left. What was the value of the goods purchased for the year

What needs fall under the categories of each tier on Maslow's Hierarchy of Needs?

As price rises...

A sole proprietorship has [blank_start]unlimited liability.[blank_end] A partnership had [blank_start]limited liability[blank_end]. Shareholders in corporations are [blank_start]not liable.[blank_end]

SOHO stands for

Both debt and equity financing refer to borrowing money.

Many companies relocate their locations to other countries because it is [blank_start]less expensive[blank_end].

Check off all the basic rights of the worker as outlined by the OHSA (Ontario Health and Safety Act)

Grassroots refers to something that starts from the bottom upwards.

Check off the benefits of trading internationally for businesses

The 5 Ps of international trade [blank_start]Product[blank_end] refers to what can be produced based on the country's resources. [blank_start]Price[blank_end] refers to where it is cheapest to produce [blank_start]Proximity[blank_end] refers to how close a countries are to each other (the closer the easier it is to trade) [blank_start]Preference[blank_end] refers to reputations countries build for certain products (eg. French wine, Swiss watches) [blank_start]Promotion[blank_end] refers to how companies get people to buy their products and how easy this is for them.

Which of these options is not a natural resource?

Consolidation refers to replacing workers with machines.

The production process consists of the following: 1. [blank_start]Purchasing[blank_end] 2. [blank_start]Processing[blank_end] 3. [blank_start]Quality Controll[blank_end] 4. [blank_start]Grading[blank_end]

Which option refers to receiving pay for a single job, often covered by a contract.

What do each of the WHIMIS symbols mean?

What kind of logo is this?

This non-traditional product life cycle is very popular for a breif ammount of time.

Check off the 4 Ps of Marketing

Label the different parts to this balance sheet.

The equation for calculating the net income of a retail business is revenue-expenses=net income.