BUSI 101_Week 1_ Quiz

What are the characteristics of Canadian business?

• Uniformity, tradition, and rigidity

• Diversity, innovation, and adaptability

• Exclusivity, stagnation, and resistance

• Homogeneity, conservatism, and inflexibility

What industries does Canadian business encompass?

• Only natural resources

• Only manufacturing

• Only technology and services

• A wide range of industries including natural resources, manufacturing, technology, and services

What are the main goals of Canadian businesses?

• Profitability, sustainability, growth, and contributing to economic development and well-being

• Profitability, exclusivity, growth, and contributing to social inequality

• Sustainability, stagnation, growth, and contributing to environmental degradation

• Profitability, sustainability, decline, and contributing to economic instability

Which of the following is a primary goal for businesses in Canada to ensure their sustainability and growth?

• Innovation

• Profitability

• Growth

• Sustainability

What do Canadian businesses aim to achieve by operating in an environmentally responsible and socially conscious manner?

• Profitability

• Innovation

• Sustainability

• Growth

Which goal involves Canadian businesses expanding both nationally and internationally to increase market share and profitability?

• Innovation

• Profitability

• Sustainability

• Growth

What do many Canadian businesses prioritize to remain competitive in a globalized economy?

• Profitability

• Innovation

• Growth

• Sustainability

What is the primary goal of a business according to the definition provided?

• To maximize profits

• To provide goods or services to customers

• To expand globally

• To reduce costs

What is the primary purpose of a business?

• To create jobs

• To fulfill the needs and wants of consumers

• To innovate new technologies

• To compete with other businesses

What is the definition of profit?

• The total revenue generated by a business.

• The financial gain or surplus after subtracting all costs, expenses, and taxes.

• The total costs incurred by a business.

• The amount of money invested in a business.