Ch 1
Stanley has created a new cup, made from recycled materials. This is an example of which benefit?
driving innovation and creativity
What is the primary disadvantage of a sole proprietorship that a corporation overcomes?
unlimited liability
Working with HR manager to create a First Aid training class fits into what HRM phase?
Development
Wayne is frustrated because his employer keeps asking him to perform unsafe work & reports them to Health Canada. Wayne is a.....
whistleblower
There are few sellers in the oil-refining industry. It's expensive to enter. What market situation is this?
an oligopoly
A store is looking to cut costs & increase marketing as 2 competitors recently opened. Which factor in business environment?
Competitive
I narrowed my options to four brands and am now reading through product reviews. This is what part of consumer process?
evaluating alternatives
Performing a job analysis of your current staff is what phase of HRM?
Acquisition
"Warning: The Surgeon General Has Determined That Cigarette Smoking Is Dangerous to Your Health" is an example of which consumer right?
the right to safety and to be informed
Price @ which quantity demanded of a product is exactly equal to quantity supplied is referred to as?
Equilibrium price
Increased competition from businesses in other countries is an example of which factor in the business environment?
International
What type of products do people generally not seek out until a significant event happens?
Unsought
HRM legislation aimed at removing employment barriers & promoting equality for members of four designated groups
Employment Equity Act
Chris wants to start a welding company. It will require a large amount of capital to for equipment... he should open a
Corporation- easiest way to raise capital
·What are the fluctuations in a country's economy referred to as?
Business cycle
Tim's friends work for industries owned by the gov. They also enjoy a high level of social services. Tim's country is...
Socialist
·Which of the following is legislation that provides the right to live and seek employment anywhere in Canada?
Charter of Rights and Freedoms
Which piece of legislation protects someone from being discriminated against because of a disability?
Employment Equity Act
Which of the following is a carefully constructed guide for the person starting a business?
Business plan
If the value of the Canadian dollar increases relative to other currencies, what would you expect to happen to the import of Canadian goods?
decrease.
In USA, education & healthcare are controlled by the gov & market controls most of the businesses. What type of economy?
Mixed
HRM legislation aimed at protecting the health and safety of workers by minimizing work-related accidents and illnesses?
Occupational Health and Safety Act
HRM legislation aimed at eliminating workplace discrimination on the basis of race, gender, etc.
Canadian Human Rights Act (1977)
Which source of funding is used by ~ 80% of new business start-ups to get their business off the ground?
personal funds, family, and friends
When Mexico levies a tax on Tequila from Japan, what type of restriction is this?
Tariff