Business
and Society Study Guide Questions
Course Introduction
Business and Society explores the dynamic relationship between commercial enterprises and the broader social environment in which they operate. The course examines the responsibilities and ethical considerations companies face in addressing issues such as globalization, corporate governance, social responsibility, environmental sustainability, and stakeholder management. By analyzing real-world cases, students will gain insights into how businesses shape, and are shaped by, societal expectations, and investigate strategies for balancing profitability with positive contributions to society.
Recommended Textbook
Future of Business 3rd Canadian Edition by Norm Althouse
Available Study Resources on Quizplus
16 Chapters
2162 Verified Questions
2162 Flashcards
Source URL: https://quizplus.com/study-set/401 Page 2
Chapter 1: understanding Evolving Economic Systems and Competition
Available Study Resources on Quizplus for this Chatper
145 Verified Questions
145 Flashcards
Source URL: https://quizplus.com/quiz/7009
Sample Questions
Q1) The price of a basket of groceries rises from $30 to $40 but your salary remains the same.This is an example of a decline in which of the following for you,personally?
A) standard of living
B) purchasing power
C) cost of living index
D) GDP index
Answer: B
Q2) A retailer of computer games can focus on relationship management by engaging in which of the following practices?
A) selling products that are cheaper but not always reliable
B) pricing to take advantage of customers' passions
C) using advertising that helps customers make impulse buying decisions
D) giving customers more than they expected such as a reward once they have purchased 10 games
Answer: D
Q3) Canada,Great Britain,and Sweden are market economies.
A)True
B)False
Answer: False
Page 3
To view all questions and flashcards with answers, click on the resource link above.
Chapter 2: the Global Marketplace and Governments Roles
Available Study Resources on Quizplus for this Chatper
121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/7010
Sample Questions
Q1) Which of the following statements applies most accurately to dumping?
A) Dumping is legal provided that it is government subsidized.
B) Most industrialized nations have passed laws to make dumping illegal.
C) Canada has not been a victim of dumping.
D) Dumping is a form of export quota.
Answer: B
Q2) Grand Metropolitan,a British company,purchased North American-based Pillsbury Co.in order to expand its product line and the market for its existing consumer products.Metropolitan's purchase was an example of which of the following activities?
A) direct foreign investment
B) an international corporation
C) an international cooperative
D) a limited partnership
Answer: A
Q3) Latvia had a favourable balance of trade last year when it exported $2.3 billion and imported $3.9 billion.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above.
Page 4
Chapter 3: Social Trends, social Responsibility, and Making
Ethical Decisions in Business
Available Study Resources on Quizplus for this Chatper
134 Verified Questions
134 Flashcards
Source URL: https://quizplus.com/quiz/7011
Sample Questions
Q1) Which of the following is the practice of tying philanthropy to the corporate mission or goals,and targeting donations to regions where the company operates?
A) social investing
B) strategic paternalism
C) strategic giving
D) social philanthropy
Answer: C
Q2) A trend today is toward a new "social contract" or understanding between employer and employee.Which of the following aspects of job security is suggested by the contract?
A) It is no longer possible.
B) It is the responsibility of investors.
C) It is the responsibility of the employer.
D) It is practised only in large organizations.
Answer: A
Q3) Canada is shifting from a society dominated by British and Western European culture toward a society characterized by many racial and ethnic minorities.Name the term used to describe this new society.
Answer: multiculturalism
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Using Technology to Manage Information and for Business Success
Available Study Resources on Quizplus for this Chatper
116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/7012
Sample Questions
Q1) Which of the following are internal corporate-wide area networks that use Internet technology to link employees in many different locations and with many different types of computers?
A) functional networks
B) specialized networks
C) intranets
D) extranets
Q2) How does spam pose a security threat for organizations?
Q3) A LAN is best described by which of the following?
A) a word processing software system
B) a type of modem
C) a a network of computer systems that share the use of software and hardware
D) a graphic design system
Q4) What kind of software system would be used for answering "what if" questions?
Q5) Data marts are special subsets of a data warehouse that deal with a single area of data,and are organized for quick analysis
A)True
B)False
Q6) Describe software piracy.
Q7) What are the two basic kinds of networks? Page 6
To view all questions and flashcards with answers, click on the resource link above.
Page 7
Chapter 5: Forms of Business Ownership
Available Study Resources on Quizplus for this Chatper
120 Verified Questions
120 Flashcards
Source URL: https://quizplus.com/quiz/7013
Sample Questions
Q1) A person who buys a franchise has the same level of control as an entrepreneur who opens his or her own sole proprietorship.
A)True
B)False
Q2) Jayson Tully is contemplating the purchase of a Subway restaurant franchise.Tully has made a list of the disadvantages that he faces.Which of the following is actually an advantage?
A) assistance in building plans
B) defined territory
C) royalty fees
D) conformity to operating procedures
Q3) Leveraged buyouts (LBO)are inefficient and do not generate enough cash to service the debt that was created by the merger.
A)True
B)False
Q4) A ____________________ is the combining of two or more firms to form one new company.
Q5) Adam Ratchasky purchased a franchise from Midas Muffler.Adam is the ____________________ in this franchise agreement.
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 6: Entrepreneurship and Small Business
Available Study Resources on Quizplus for this Chatper
112 Verified Questions
112 Flashcards
Source URL: https://quizplus.com/quiz/7014
Sample Questions
Q1) Many classic entrepreneurs who start small and plan to keep their business small are described as which of the following?
A) intrapreneurs
B) multipreneurs
C) micropreneurs
D) interpreneurs
Q2) David Dworkin is the founder and owner of Swoozie's,a chain of stores that carry eclectic lines of wrapping paper,stationery,invitations,and gifts for affluent women.He is a classic entrepreneur who envisions having stores across the United States and Canada.Which of the following type of entrepreneurs BEST describes David?
A) growth-oriented entrepreneur
B) intrapreneur
C) multipreneur
D) interpreneur
Q3) Which of the following describes the trend in entrepreneurship in recent years?
A) The number of people starting businesses has remained the same.
B) The number of people starting businesses has increased.
C) The number of people starting businesses has slowed.
D) The number of people starting businesses has decreased.
To view all questions and flashcards with answers, click on the resource link above.
Page 9
Chapter 7: Management and Leadership in Todays Organizations
Available Study Resources on Quizplus for this Chatper
142 Verified Questions
142 Flashcards
Source URL: https://quizplus.com/quiz/7015
Sample Questions
Q1) A clothing wholesaler buys most of its inventory from manufacturers in the Caribbean.In the event a hurricane demolishes the manufacturing facility of one of its principal suppliers,the company should have which of the following?
A) functionally oriented planning
B) supply-demand planning
C) hierarchical planning
D) contingency planning
Q2) Which of the following is one of the five key types of power?
A) connection power
B) financial power
C) referent power
D) influential power
Q3) A manager who turns over all authority and control to the group is using a ____________________ leadership style.
Q4) Which of the following are human relations skills?
A) the ability to see the "big picture"
B) the ability to program a computer
C) the ability to apply knowledge
D) the sensitivity to workers' needs
10
To view all questions and flashcards with answers, click on the resource link above.
Chapter 8: Designing Organizational Structures
Available Study Resources on Quizplus for this Chatper
149 Verified Questions
149 Flashcards
Source URL: https://quizplus.com/quiz/7016
Sample Questions
Q1) What is one of the advantages of a wide span of control?
A) close supervision of employees
B) a lack of synchronization
C) an absence of managerial support
D) greater organizational flexibility
Q2) What term best describes the type of organizational structure commonly found in the military?
Q3) Which of the following is the sharing of job duties and authority with subordinates?
A) job enrichment
B) responsibility sharing
C) delegation of authority
D) functionalization
Q4) Chloe Anyan works in the human resources department of a company that manufactures packaging machines.She handles payroll and insurance.Anyan is in which of the following positions?
A) staff
B) line
C) functional
D) matrix
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 9: Motivating Employees
Available Study Resources on Quizplus for this Chatper
114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/7017
Sample Questions
Q1) Cindi Kastarian believes that she is the best nurse that she can be and is using her abilities to the utmost.According to Maslow's theory of need,Kastarian is motivated by which of the following needs?
A) esteem
B) psychological
C) self-actualization
D) physiological
Q2) The ____________________ management style recognized individual differences and encourages workers to learn and develop their skills.It assumes that work is as natural as play or rest.
Q3) What are managers doing when they horizontally expand a job to increase the number and variety of jobs an employee performs?
Q4) Wes Johnston overheard his manager say,"Work is as natural as play,and workers seek more job responsibility." This statement supports which of the following theories?
A) the hierarchy of needs
B) Theory Y assumptions
C) Theory X assumptions
D) Theory Z assumptions
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 10: Managing Human Resources and Labour Relations
Available Study Resources on Quizplus for this Chatper
133 Verified Questions
133 Flashcards
Source URL: https://quizplus.com/quiz/7018
Sample Questions
Q1) Dallas Walz is an electrical engineer.He works as a temporary worker for a contracting company that needs his talents only about nine months out of the year.While he likes the extra income,he would much rather stay home with his two preschoolers.His wife earns a six-digit salary selling computers,so Walz has no need to work.Walz is an example of which of the following?
A) a contingent worker
B) an outsourced worker
C) an unpromotable employee
D) a conditional employee
Q2) In which of the following shops does the worker not have to join the union but must pay dues to cover union expenses?
A) a closed shop
B) an agency shop
C) a managed shop
D) an open shop
Q3) Pita Hodges works at a meat processing plant and earns an hourly ____________________ of $11.80.
Q4) In a(n)____________________ shop,only union members can be hired.
Q5) What is the appropriate role of top management in managing diversity?
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 11: Achieving World-class Operations Management
Available Study Resources on Quizplus for this Chatper
136 Verified Questions
136 Flashcards
Source URL: https://quizplus.com/quiz/7019
Sample Questions
Q1) Operations management refers to the role that computers play in the production process.
A)True
B)False
Q2) Production efficiency begins as soon as the first part of the product reaches the factory floor.
A)True B)False
Q3) A listing of the components and the number of each required to make the product is called the bill of lading.
A)True
B)False
Q4) Underlying the success of supply chain management is the ability to use enterprise resource planning systems to monitor for changes in supplier product quality.
A)True B)False
Q5) List two commonly used techniques for streamlining a business's production.
Q6) What are the two basic processes for converting inputs into outputs?
Q7) What is the relationship between mass production and customization?
Page 14
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Understanding the Customer
Available Study Resources on Quizplus for this Chatper
140 Verified Questions
140 Flashcards
Source URL: https://quizplus.com/quiz/7020
Sample Questions
Q1) The goal in environmental scanning is to gather internal environmental data to identify future market opportunities and threats.
A)True
B)False
Q2) A telephone interview collects primary data,and a follow-up interview to the same customer collects secondary data.
A)True
B)False
Q3) In selling telephone service,Rogers tries to gather as much information as possible about the consumer's income,buying habits,service preferences,and occupation.Rogers is using which type of decision-making information?
A) mass customization
B) psychographic data
C) marketing research
D) niche marketing
Q4) According to your text,in what kind of research are Information Resources,Inc.and A.C.Nielsen Company market leaders?
Q5) Personal interviews can be used to gather ____________________ data.
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 13: Creating Marketing Strategies
Available Study Resources on Quizplus for this Chatper
174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/7021
Sample Questions
Q1) What are airlines trying to achieve when they use frequent flyer programs,which give customers points that can be redeemed for free travel,rental cars,and other merchandise?
A) to get consumers to try their product
B) to create product awareness
C) to provide information
D) to increase the amount and frequency of use
Q2) The two types of business products are expense and operating items.
A)True
B)False
Q3) Distribution channels should be established in the introduction stage of the product life cycle.
A)True
B)False
Q4) Windshields purchased by Ford to build Ford Focus cars are industrial products called component parts.
A)True
B)False
Q5) List the four major categories of consumer products.
Q6) List the three sorting methods used in distribution channels.
Page 16
To view all questions and flashcards with answers, click on the resource link above.
Chapter 14: Using Financial Information and Accounting
Available Study Resources on Quizplus for this Chatper
133 Verified Questions
133 Flashcards
Source URL: https://quizplus.com/quiz/7022
Sample Questions
Q1) What is the dollar amount of sales plus any other income received from sources such as interest and dividends?
A) revenues
B) capital
C) intangible assets
D) equities
Q2) Which of the following is the BEST example of a current asset for a clinical psychologist?
A) the building in which his clinic is located
B) money he pays for rent and utilities
C) credit card charges by patients
D) his reputation as a compassionate man
Q3) What is a short-term loan from a bank,supplier,or others that must be repaid within a year?
A) an account payable
B) a note receivable
C) a note payable
D) an account receivable
Q4) ____________________ are bills and claims that will have to be paid within the next 12 months.
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 15: Understanding Money, financial Institutions, and
the Securities Markets
Available Study Resources on Quizplus for this Chatper
149 Verified Questions
149 Flashcards
Source URL: https://quizplus.com/quiz/7023
Sample Questions
Q1) How do investors use bond ratings?
Q2) When the government of Canada issues money on a short-term basis,it issues which of the following?
A) certificates of deposit
B) notes
C) treasury bonds
D) treasury bills
Q3) The Canadian Deposit Insurance Corporation insures only deposits at commercial banks.
A)True
B)False
Q4) What is a mutual fund?
Q5) Suppose a six-year-old girl wants to buy a $30 Hello Kitty doll.The money she received for her birthday to buy the doll would be used for which of the following purposes?
A) a measure of wealth
B) a store of value
C) a commodity of exchange
D) a medium of exchange
Q6) What are junk bonds?
Page 18
To view all questions and flashcards with answers, click on the resource link above.
Page 19
Chapter 16: Managing the Firms Finances
Available Study Resources on Quizplus for this Chatper
144 Verified Questions
144 Flashcards
Source URL: https://quizplus.com/quiz/7024
Sample Questions
Q1) The interest rate of a bond is also called the ____________________ rate.
Q2) C.W.Beauregard is an Atlantic salmon farmer.He produces and sells salmon to satisfy the growing demand for fish.He has arranged a business loan with terms that guarantee that he can borrow up to $12,000 whenever he needs it within the next year.He must pay interest only on the unpaid loan balance.Beauregard has arranged which of the following type of credit?
A) a credit-line loan
B) a line of credit
C) a single-payment note
D) a collateralized loan
Q3) Dividends and interest payment are both tax-deductible.
A)True
B)False
Q4) A firm's basic approach to paying dividends can greatly affect which of the following?
A) its share prices
B) its span of financial management
C) its mission statement
D) its unity of fiscal policy
Q5) ____________________ represent sales for which the firm has not been paid.
Page 20
To view all questions and flashcards with answers, click on the resource link above.