,ACCESS Test Bank for Business Changing World 8th Canadian Edition Ferrel
f f f f f f f f f f
l
Business Changing World Edition 8 by Ferrell
f f f f f f
CORRECT ANSWERS ARE LOCATED IN THE 2ND HALF OF THIS DOC.
f f f f f f f f f f
TRUE/FALSEf-fWritef'T'fiffthefstatementfisftruefandf'F'fiffthefstatementfisffalse.
1) Productsfhaveftangiblefattributesfonly.
⊚f true
⊚f false
2) Whenfyouftakefyourfclothesftofthefdryfcleanerftofbefcleanedforfgoftofthefspaftofgetfafmassage,fyoufa
refnotfreceivingfafproductfbecausefyoufhavefnotfreceivedfanythingftangiblefinfreturn.
⊚f true
⊚f false
3) Thefgoalfoffbusinessfactivitiesfisftofearnfafprofit.
⊚f true
⊚f false
4) Non-
profitforganizations,fsuchfasfthefCanadianfRedfCross,fdofnotfhaveftofengagefinfmanage
ment,fmarketing,forffinancefactivities.
⊚f true
⊚f false
5) OrganizationsfsuchfasfthefUnitedfWayfandfWorldfVisionfhaveftwoffundamentalfpurposes:ftofear
nfafprofitfandftofaccomplishfsocialfobjectives.
⊚f true
⊚f false
6) Profitfrefersftofthefcostsfrequiredftofmakefandfsellfafproduct.
⊚f true
⊚f false
7) Businessesfhavefthefrightftofkeepfandfuseftheirfprofitsfasftheyfchoose,fwithoutflimitations.
⊚f true
⊚f false
8) Earningfprofitsfcontributesftofsocietyfbyfprovidingfemployment,fwhichfinfturnfprovidesfm
oneyfthatfisfreinvestedfinfthefeconomy.
⊚f true
⊚f false
Versionf1 1
mynursytest.store
,ACCESS Test Bank for Business Changing World 8th Canadian Edition Ferrel
f f f f f f f f f f
l
Business Changing World Edition 8 by Ferrell
f f f f f f
9) Financefisfconcernedfwithfobtainingfmoneyfandfusingfitfeffectively.
⊚f true
⊚f false
10) Ownersfhaveflittlefresponsibilityftofprovideffundsfforfthefoperationfoffthefbusiness.
⊚f true
⊚f false
11) Managersfcoordinatefresourcesftofachieveforganizationalfobjectives.
⊚f true
⊚f false
12) Theffocusfoffallfmarketingfactivitiesfisfthefsuccessfulftransformationfoffresourcesfintofgoodsfand
services.
f
⊚f true
⊚f false
13) Ownersfalwaysfmanageftheirfbusinessesfthemselves.
⊚f true
⊚f false
14) Studyingfbusinessfwillfhelpfyoufdevelopfskillsftofemployfinfaffuturefcareer,fiffthatfcareerftake
sfplacefinfthefcountryfwherefyoufstudiedfbusinessftopics.
⊚f true
⊚f false
15) Naturalfresourcesfincludefland,fminerals,fwater,fandfotherfgiftsfoffnaturefwhichfarefnotfmadefbyf
humans.
⊚f true
⊚f false
16) Humanfresourcesfreferfonlyftofthefmentalfabilitiesfoffpeoplefusedftofproducefgoodsfandfser
vices,fitfisfsynonymousfwithfknowledge.
⊚f true
⊚f false
17) Allfeconomicfsystemsfmustfaddressfthreefimportantfissues,fonefoffwhichfisfhowfthefgoodsfandf
servicesfwillfbefproduced.
⊚f true
⊚f false
Versionf1 2
mynursytest.store
, ACCESS Test Bank for Business Changing World 8th Canadian Edition Ferrel
f f f f f f f f f f
l
Business Changing World Edition 8 by Ferrell
f f f f f f
18) Capitalismfisfanfeconomicfsystemfinfwhichfthefgovernmentfownsfandfoperatesfbasicfind
ustriesfwhilefindividualsfownfmostfotherfbusinesses.
⊚f true
⊚f false
19) ChinafisfanfexamplefoffafcommunistfeconomyfthatfexistsftodayfwhichfsatisfiesfKarlfMarx'sfide
alfoffcommunism.
⊚f true
⊚f false
20) Manyfnationsfhavefturnedfawayffromfcommunismfandftowardfeconomicfsystemsfgovernedfbyf
supplyfandfdemandfratherfthanfbyfcentralfplanning.
⊚f true
⊚f false
21) Mostfsocialistfnationsfarefdemocratic.
⊚f true
⊚f false
22) Infaffree-marketfsystem,fthefgovernmentfregulatesfbusiness.
⊚f true
⊚f false
23) Free-marketfcapitalismfandflaissez-fairefcapitalismfarefessentiallyfthefsamefthing.
⊚f true
⊚f false
24) Ifffreefenterprisefisfgoingftofbefsuccessful,findividualsfmustfhavefthefrightftofchoosefwhatfcare
erftofpursue,fwhereftoflive,fwhatfgoodsfandfservicesftofpurchase,fandfmore.
⊚f true
⊚f false
25) Demandfisfthefquantityfoffgoodsfandfservicesfthatfconsumersfarefwillingftofbuyfatfdifferentfpric
esfatfafspecificftime.
⊚f true
⊚f false
26) Thefdemandfcurvefisfupwardfsloping.
⊚f true
⊚f false
Versionf1 3
mynursytest.store
f f f f f f f f f f
l
Business Changing World Edition 8 by Ferrell
f f f f f f
CORRECT ANSWERS ARE LOCATED IN THE 2ND HALF OF THIS DOC.
f f f f f f f f f f
TRUE/FALSEf-fWritef'T'fiffthefstatementfisftruefandf'F'fiffthefstatementfisffalse.
1) Productsfhaveftangiblefattributesfonly.
⊚f true
⊚f false
2) Whenfyouftakefyourfclothesftofthefdryfcleanerftofbefcleanedforfgoftofthefspaftofgetfafmassage,fyoufa
refnotfreceivingfafproductfbecausefyoufhavefnotfreceivedfanythingftangiblefinfreturn.
⊚f true
⊚f false
3) Thefgoalfoffbusinessfactivitiesfisftofearnfafprofit.
⊚f true
⊚f false
4) Non-
profitforganizations,fsuchfasfthefCanadianfRedfCross,fdofnotfhaveftofengagefinfmanage
ment,fmarketing,forffinancefactivities.
⊚f true
⊚f false
5) OrganizationsfsuchfasfthefUnitedfWayfandfWorldfVisionfhaveftwoffundamentalfpurposes:ftofear
nfafprofitfandftofaccomplishfsocialfobjectives.
⊚f true
⊚f false
6) Profitfrefersftofthefcostsfrequiredftofmakefandfsellfafproduct.
⊚f true
⊚f false
7) Businessesfhavefthefrightftofkeepfandfuseftheirfprofitsfasftheyfchoose,fwithoutflimitations.
⊚f true
⊚f false
8) Earningfprofitsfcontributesftofsocietyfbyfprovidingfemployment,fwhichfinfturnfprovidesfm
oneyfthatfisfreinvestedfinfthefeconomy.
⊚f true
⊚f false
Versionf1 1
mynursytest.store
,ACCESS Test Bank for Business Changing World 8th Canadian Edition Ferrel
f f f f f f f f f f
l
Business Changing World Edition 8 by Ferrell
f f f f f f
9) Financefisfconcernedfwithfobtainingfmoneyfandfusingfitfeffectively.
⊚f true
⊚f false
10) Ownersfhaveflittlefresponsibilityftofprovideffundsfforfthefoperationfoffthefbusiness.
⊚f true
⊚f false
11) Managersfcoordinatefresourcesftofachieveforganizationalfobjectives.
⊚f true
⊚f false
12) Theffocusfoffallfmarketingfactivitiesfisfthefsuccessfulftransformationfoffresourcesfintofgoodsfand
services.
f
⊚f true
⊚f false
13) Ownersfalwaysfmanageftheirfbusinessesfthemselves.
⊚f true
⊚f false
14) Studyingfbusinessfwillfhelpfyoufdevelopfskillsftofemployfinfaffuturefcareer,fiffthatfcareerftake
sfplacefinfthefcountryfwherefyoufstudiedfbusinessftopics.
⊚f true
⊚f false
15) Naturalfresourcesfincludefland,fminerals,fwater,fandfotherfgiftsfoffnaturefwhichfarefnotfmadefbyf
humans.
⊚f true
⊚f false
16) Humanfresourcesfreferfonlyftofthefmentalfabilitiesfoffpeoplefusedftofproducefgoodsfandfser
vices,fitfisfsynonymousfwithfknowledge.
⊚f true
⊚f false
17) Allfeconomicfsystemsfmustfaddressfthreefimportantfissues,fonefoffwhichfisfhowfthefgoodsfandf
servicesfwillfbefproduced.
⊚f true
⊚f false
Versionf1 2
mynursytest.store
, ACCESS Test Bank for Business Changing World 8th Canadian Edition Ferrel
f f f f f f f f f f
l
Business Changing World Edition 8 by Ferrell
f f f f f f
18) Capitalismfisfanfeconomicfsystemfinfwhichfthefgovernmentfownsfandfoperatesfbasicfind
ustriesfwhilefindividualsfownfmostfotherfbusinesses.
⊚f true
⊚f false
19) ChinafisfanfexamplefoffafcommunistfeconomyfthatfexistsftodayfwhichfsatisfiesfKarlfMarx'sfide
alfoffcommunism.
⊚f true
⊚f false
20) Manyfnationsfhavefturnedfawayffromfcommunismfandftowardfeconomicfsystemsfgovernedfbyf
supplyfandfdemandfratherfthanfbyfcentralfplanning.
⊚f true
⊚f false
21) Mostfsocialistfnationsfarefdemocratic.
⊚f true
⊚f false
22) Infaffree-marketfsystem,fthefgovernmentfregulatesfbusiness.
⊚f true
⊚f false
23) Free-marketfcapitalismfandflaissez-fairefcapitalismfarefessentiallyfthefsamefthing.
⊚f true
⊚f false
24) Ifffreefenterprisefisfgoingftofbefsuccessful,findividualsfmustfhavefthefrightftofchoosefwhatfcare
erftofpursue,fwhereftoflive,fwhatfgoodsfandfservicesftofpurchase,fandfmore.
⊚f true
⊚f false
25) Demandfisfthefquantityfoffgoodsfandfservicesfthatfconsumersfarefwillingftofbuyfatfdifferentfpric
esfatfafspecificftime.
⊚f true
⊚f false
26) Thefdemandfcurvefisfupwardfsloping.
⊚f true
⊚f false
Versionf1 3
mynursytest.store
