Question 1

World trade has grown in part because of the development of efficient distribution systems.

Accepted Answer

Efficient distribution systems such as containerization, intermodal transportation, and advances in logistics have made it easier and more cost-effective to transport goods across the globe, contributing to the growth of world trade.

Question 2

In Canada,the majority of jobs are generated in the services-producing sector.

Accepted Answer

According to Statistics Canada, as of 2019, the services-producing sector accounted for 78.2% of all jobs in Canada.

Question 3

Today,more than ever,Canadian businesses require more workers in industries that produce goods.

Accepted Answer

The answer of Today,more than ever,Canadian businesses require more workers...

Question 4

Manufacturing is no longer an important part of the Canadian economy.

Accepted Answer

Manufacturing is still a significant part of the Canadian economy, accounting for approximately 10% of GDP and employing millions of Canadians. However, the service sector has grown in importance in recent years, making up the largest share of the economy.

Question 5

While the proportion of workers employed in agriculture has remained relatively constant,the average size of farms has steadily decreased over the past century.

Accepted Answer

The statement is the opposite of reality. The proportion of workers employed in agriculture has decreased, while the average size of farms has steadily increased over the past century.

Question 6

The goods-producing sector includes manufacturing,utilities,agriculture,and service

Accepted Answer

The goods-producing sector includes only manufacturing, construction, mining, and agriculture. The service sector includes utilities, along with other industries such as healthcare, finance, and retail.

Question 7

A continuously changing global environment creates a need for continuous learning.

Accepted Answer

As the world and technology advances, new knowledge and skills are required in order to adapt and thrive in the constantly changing environment. Therefore, continuous learning is necessary to keep up with these changes and remain competitive.

Question 8

The Internet has hurt the spread of globalization.

Accepted Answer

The Internet has actually facilitated and accelerated the spread of globalization by allowing for faster and easier communication, trade, and cultural exchange between countries and individuals around the world.

Question 9

Today,the issue for companies is global warming,but in the future the issue may become global cooling.

Accepted Answer

While global warming is currently a major issue, there is scientific speculation that global cooling could become a potential issue in the future due to changes in various climate patterns. However, it is important to note that the overwhelming scientific consensus is still focused on the dangers and impacts of global warming.

Question 10

Global competition has decreased in recent years.

Accepted Answer

Global competition has actually increased in recent years due to advancements in technology, globalization, and the rise of emerging markets.

Question 11

Manufacturers in China,India and Mexico pose little threat to Canadian manufacturers because they are unable to meet the quality levels demanded by Canadian and European consumers.

Accepted Answer

This statement is false as manufacturers in China, India, and Mexico are capable of meeting the quality levels demanded by Canadian and European consumers. In fact, many companies from these countries are becoming major players in global manufacturing and are highly competitive in terms of quality, cost, and efficiency. Canadian manufacturers must continue to innovate and improve their processes in order to stay competitive in this global economy.

Question 12

Saving energy and producing products that cause less harm to the environment is called climate change.

Accepted Answer

Saving energy and producing products that cause less harm to the environment is called sustainability, not climate change. Climate change refers to the long-term changes in Earth's climate, particularly in regard to increases in atmospheric temperature, oceans warming, and rising sea levels, that result from human activities such as burning fossil fuels and deforestation.

Question 13

Climate change is not important to the international business community.

Accepted Answer

Climate change is becoming increasingly important to the international business community as they are recognizing the potential risks and opportunities that come with a changing climate. This includes the physical risks of extreme weather events and the transition risks associated with changing laws, regulations, and consumer demands for more sustainable practices. Many companies are also seeing the economic opportunity in developing and investing in clean technologies and renewable energy.

Question 14

Increases in productivity have allowed fewer farmers to feed more and more people.

Accepted Answer

Advancements in technology and farming practices, such as the use of machinery, pesticides, and breeding techniques, have increased productivity in agriculture. As a result, fewer farmers are needed to produce more food to feed a growing population.

Question 15

World trade has its costs and benefits.Because of increased trade,there is now an increased interdependence between nations.

Accepted Answer

Increased trade has led to increased interdependence between nations, which has both costs and benefits.

Question 16

Canada is insulated from economic problems in other parts of the world.

Accepted Answer

While Canada may be relatively stable compared to other countries, it is still affected by global economic issues such as the 2008 financial crisis and the COVID-19 pandemic. International trade and investment play a large role in Canada's economy, making it vulnerable to changes in the global market.

Question 17

Although employment in the service sector has increased rapidly in recent years,the vast majority of workers are still employed in the goods producing sector.

Accepted Answer

The answer of Although employment in the service sector has...

Question 18

The advice provided by a lawyer is an example of the service industry.

Accepted Answer

The provision of legal advice by a lawyer is a typical example of the service industry, which involves providing intangible services to clients for a fee.

Question 19

As businesses expand to serve global markets,new jobs will be created in the manufacturing sector.

Accepted Answer

As businesses expand to serve global markets, there will be an increase in demand for manufacturing goods which will lead to the creation of new jobs in the manufacturing sector.

Question 20

The number of Canadian jobs in manufacturing has increased in the past five years.

Accepted Answer

The answer of The number of Canadian jobs in manufacturing...

Quiz 1: Taking Risks and Making Profits Within the Dynamic Business Environment