Marketing
What are the four Ps of marketing?
Product, Price, Place, Promotion
When is a business breaking even?
When total revenue equals total costs
What are the four core functions of management?
Planning, organizing, leading, controlling
What business is owned by one person?
Sole proprietorship
Who is the Prime Minister of Canada as of October 2026?
Mark Carney
What does the AIDA formula used in advertising stand for?
Attention, Interest, Desire, Action
What is opportunity cost?
The value of the next-best alternative given up
Which department recruits, trains, and manages employees?
Human resources
What business is owned by members who are often also its customers?
Co-operative
Who regulates fiscal policy in Canada?
The federal government
A trend is
A general direction in society
What are accounts receivable?
Money customers owe the business
Which leadership style gives employees substantial independence?
Laissez-faire leadership
What ownership option lets an entrepreneur use an established brand and business model?
Franchise
Which organization was historically responsible for Canada's foreign affairs and international trade?
DFAIT (now Global Affairs Canada)
What pricing strategy uses a low initial price to gain market share?
Penetration pricing
What financial statement shows revenue and expenses?
Income statement
What are the four main workplace hazard categories?
Chemical, physical, biological, ergonomic
What protects corporate owners' personal assets from most business debts?
Limited liability
What was Team Canada known for doing to help Canadian businesses internationally?
Organizing trade missions to meet potential customers and business contacts
What is it called when packaging promotes a social or environmental cause?
Cause packaging
What is the equilibrium point?
Where supply equals demand
What is intrapreneurship?
Developing innovative ideas within an existing company
What document evaluates a proposal's costs, benefits, and risks to justify a business decision?
Business case
What Canadian law contains federal employment standards, including overtime provisions for federally regulated workplaces?
Canada Labour Code