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Understanding Canadian Business Study Set 1

Business

Quiz 2 :

How Economic Issues Affect Business

Quiz 2 :

How Economic Issues Affect Business

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Which of the following statements would a follower of Adam Smith be most likely to make?
Free
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Answer:

C

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Both socialism and communism are variations of:
Free
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Answer:

D

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In recent years,productivity in the goods-producing sector of the Canadian economy has been:
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Answer:

D

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In most large cities there are a large number of bakeries.These bakeries produce similar,but not identical,products.Some bakeries claim to have the best cheesecakes in town,while others brag about their cookies or specialty breads.The bakery market in a large city is an example of:
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A typical demand curve shows that:
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Peter Principal is the prime minister of the nation of Urbania.Peter has called for Urbania's legislature to enact new legislation designed to shift his economy away from socialism toward a more capitalistic system.Peter has acknowledged that such a radical change will entail some hardships,and that some citizens will be unhappy with the changes in the economy.The most likely source of unhappiness associated with a move toward capitalism is:
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A(n)exists when the entire supply of a good is controlled by a single seller.
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Almost every discussion about a country's economy is based on gross domestic product.GDP is the:
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If a shortage exists for a good in a free-market economy,the:
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Which of the following would be a topic emphasized in a macroeconomics course?
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Three of the major indicators of the economic condition of Canada are the gross domestic product (GDP),the price indices,and the:
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Which of the following statements provides the most accurate comparison of socialism and communism?
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When the supply curve and demand curve for a particular good are on a single graph,the point at which the two curves intersect identifies the:
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In recent years,countries with communist economic systems have:
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One reason the CPI is followed very closely by the government,businesses,and workers is that:
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Economics is the study of how:
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is a condition in which the average level of prices is actually falling.
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Communism is an economic system in which:
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The system that has provided more opportunities for poor people to work their way out of poverty is known as what?
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The index measures changes in the prices of goods and services such as food,housing,and apparel.
Multiple Choice
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