PROGRESS QUIZ
a. what goods and services are produced and distributed to society. b. the level of taxes individuals must pay. c. how the goods and services are produced and distributed to society. d. Both a and c above.
2. The notion that individuals can pursue their own self-interest and own private property are among the fundamental principles of:
a. communism b. capitalism c. unionism d. none of the above
3. Laissez Faire is a term which essentially means
a. business is lazy b. fairness is important in business c. minimal government interference in business d. all of the above
4. Small business in Canada
a. constitutes a minor percentage of the business sector b. employs about 53% of the labour force c. constitutes about 95% of the business sector d. both b and c
5. A number of defining characteristics of the Canadian business environment include:
a. resource-based economy b. reliance on trade with the U.S c. high technology-base d. both a and b
6.A corporation is:
a. a business owned directly and managed by one person. b. a legal entity which exists separate from the people who own it. c. a business owned legally by two or more people. d. a large organization
7. Corporations in Canada
a. make-up a small proportion of the total number of businesses b. generate the major proportion of total business sales volume. c. are similar to those in the U.S. d. both a and b
8. Some view foreign ownership in Canada negatively because:
a. it does not generate more jobs for Canadians. b. it does not help the economy. c. it does not encourage an entrepreneurial or innovative business sector. d. none of the above
9. The level of industrial concentration in an economy is related to the issue of:
a. demography b. competition c. land size d. a and b above
10. The Canadian economy is changing from
a. a service-based to a manufacturing-based economy b. a resource-based economy to a technology-based economy c. a mixed-economy to an monopoly d. a manufacturing-based economy to a service-based economy