COMM1010 MIDTERMS

Adam Smith elieved that countries would prosper if businesspeople were free to start and run their own businesses, becuse business people would make a profit by providing the goods, services, and ideas that others in the economy wanted. this was called the:

invisible hand

country where a parent firm is located is know as what?

home country

purpose of the federal accountability act is to

protect government employees from reprisal for making good faith allegations of wrong doing

a company owned in a foreign country by the parent company is known as what?

foreign subsidiary

comparative advantage theory was first put forward by

David Ricardo

those who argue in favour of corporate social responsibility suggest that

companies who are perceived as being socially responsible will attract and retain better employees and draw mmore customers

what is it called when more money is flowing out of a country than flowing into it?

unfavourable balance of payments

what is the recommended approach for setting wages for serves?

pay competitive wages to attract and retain quality employees

primary purpose of the Local Labour report under the MARKET menu in the simulation?

to provide averages for manager and staff wages, turnover rate, and other labour-related information in the local market

what are identififed as the limiting factors for further progression of trade between the US and Vietnam

the need for improvements in Vietnam’s infrastructure, worker skills, and governance

what comparison does the article make to describe Apple’s business strategy with the iPhone

reminiscent of US car sales business

what did the US Federal Reserve signal in its recent announcement

they expect one more interest rate hike in 2023

why is Canada providing a $3billion loan to Romania’s nuclear power operator, according to the provided text

to support Romania in reducing carbon emissions

what was the main reason for the chaos in financial markets during Liz Truss’s brief tenure as Prime Minister

the introduction of un-funded tax cuts

what is the purpose of a break-even analysis

to determine the volume of sales or production for a business to cover costs

both socialism and communism are variations of

command economies

long-term partnership arrangement that does not call for the firms to share costs, risk, or management

strategic alliances

free market capitalism has brought inequality as well as

prosperity

refers to the amount of output generated with a given amount of input, e.g. number of pizzas produced per worker per hour

productivity

dimension of social responsibility that includes enhanced forms of corporate philanthropy that are more directly related to the company’s competencies

corporate social initiatives

theory that states that a nation should produce and sell goods to other countries that it produces most efficiently, and buy goods produced more efficiently by other coountries

comparative advantage

quantative easing refers to

the use of monetary policy to increase the money supply

most effective leadership style is

depends on who is being led and in what situation

when the economy is weak, government revenues in Canada

decline

3 questions that often help individuals and organizations in deciding if their decisions are ethical

is it legal

is it balanced

how will it make me feel about myself

PMI

problem solving technique used to evaluate possible solutions to a problem

when the government runs a budget deficit, it increases the

national debt

code of ethics to avoid violation of the law, this focuses on the ethics code feature of

objective

government withdrawing certain laws and regulations that seem to hinder competition is known as

deregulation

examples of middle management

divisional managers

plant managers

deans

department heads at colleges

the process by which changes in the BoC’s policy interest rate work their way through the economy is referred to as

transmission

best description of carbon footprint guidelines is that

they are not specific

countries with communist economic systems have experienced

severe economic depression

the main reason for Canada’s uneven economic development is

uneven resources, climate, and geography

multinational corporation

a compnay refines and markets its products in different nations, and their stockholders and managers come from different nations

Important function of the BoC is to

regulate the money supply

mission statement

a statement to outline the fundamental purposes of their company

what trend did we see in the 1990s in the Canadian government’s involvement in business

a lessening of the role of government

ethical behaviour

considering the potential impact on others, before actually making a decsion that could affect them

persistent shortages of basic goods such as clothing and food

signigicant problems faced by communist economies

oligopoly

example: the market for cereal is dominated by just a few sellers

politically sensitive

how did the BoC recently characterize the relation between business pricing decision and that of global inflationary pressures

inflation

example: the price of oil commoditires impact which economic metric

china

which countey has come forward in support of Germany’s suggestion to restructure the G20’s debt framework to facilitate responsible investments and trade

to finance the construction of two nuclear reaactors in Romania

what is the primary purpose of the $3billion loan from Canada to Romania

inflation reduction act

which act in the US is helping organizations become part of a clean-tech industry that Canada is trying to compete with

which country real estate stocks have been plummeting since more control was put on the lijmit of debt real estate companies can take

china

germany

in quebec, two major motor companies are partnering with battery maker coompanies from the same country

the signing of a climate bill by president joe biden

what initiated the surge in private investment towards clean energy projects in the US?

softbank

which company retained a majority stake in Arm after the IP

raw materials expense

what is not a fixed cost

at the break even point…

the company makes no loss or profit

projected taxes

not considered when setting a price for a product

what decisions can you make to increase demand in the early stages of your business

advertise to potential customers and run targeted promotional campaigns

what is not an operating cost

rent

how is coffee quality categorized when making a coffee purchase decision

good quality, high quality, and organic

what happens to unused cups with a printed logo that are ordered in bulk on a weekly basis?

they are kept in inventory till needed

which tool can coffee shop managers use to monitor cash flow and track payments for various expenses, such as rent, utilities, and advertising?

the cheque book

what is the purpose of comparing the actual number of cups sold to the daily capacity in the Daily Receipts report?

to measure how busy the staff was for a given day

ethical consumerism

companies provide products that appeal to people’s best selves

profit and/or loss is zero

break even

recruiting

irrelevant activity to the financial statement

host country

country where a subsidiary firm is located

in canada, most of the offshoring occurs in this country

united states

foreign direct investment

buying permanent property and business in foreign nations

licensing

strategies that offer the least profit potential

environmental quality is considered to be a public good which means that:

everyone enjoys a cleaner environment regardless of who pays for it

top managers make less use of ____ skills than supervisory managers

technical

PRIMO-IF is

people, resources, innovation and ideas, marketing, operations, and finance

corporate philanthropy

management and employees at boyer enterprises are given time off each year to work in local charities, this frim practices":

methods

mandeep works for company abc and learned that the company demands accountability of its employees in the code of ethics, this focuses on:

PMI

technique a team of workers would use if they wanted to evaluate several possible solutions to a specific problem their company needs to solve

command system is characterized by:

reliance on the government to determine what is produced and who gets the output