Test Bank for the Future of Business 4th Canadian Edition by Althouse

CHAPTER 1 —POLITICS: —POLITICS: GOVERNMENTS’ GOVERNMENTS’ ROLES

MULTIPLE CHOICE

1. Which of the following terms best describes an organization that provides goods and services

in an effort to earn a profit? a. a not-for-profit b. the government c. a charity d. a business ANS: D BLM: Remember

PTS: 1

REF: 12

OBJ: 1

2. What do gasoline for a car, ketchup for french fries, and a lady’s scarf have in common? a. They are services. b. They are goods. c. They are “mixed message” products. d. They are all in the growth stage of their product life cycle. ANS: B PTS: 1 BLM: Higher order

REF: 12

OBJ: 1

3. What do Uno’s Pizzeria and LensCrafters have in c ommon? a. Their products are examples of intermediate goods. b. Their products are a mix of goods and services. c. They offer pure goods. d. They provide pure services. ANS: B PTS: 1 BLM: Higher order

REF: 12

OBJ: 1

4. Body soap, a box of rice, and olive oil are examples of what? a. goods b. services c. convenience products d. actual products ANS: A PTS: 1 BLM: Higher order

REF: 12

OBJ: 1

5. Which term refers to the products and goods available av ailable to a population for a period of time? a. economic growth b. entrepreneurship c. quality of life d. standard of living ANS: D BLM: Remember

PTS: 1

REF: 12

OBJ: 1

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Chapter 1 Politics: Governments’ Roles 6. People living in Okinawa, Japan, have the longest life spans in the world. wo rld. Researchers have

looked at many factors that contribute to their longevity. longevit y. They have found that the people have a very high general level of happiness. This is referred to as which of the following? a. standard of living b. quality of life c. self-actualization d. contentment ANS: B PTS: 1 BLM: Higher Order

REF: 12

OBJ: 1

7. Which of the following is one of the criteria used to measure quality of life? a. political stability and security b. GDP c. unemployment d. level of democracy ANS: A PTS: 1 BLM: Higher Order

REF: 12

OBJ: 1

8. ABC company has been exploring for gold in the Democratic Republic of Congo based on a

very promising sample size. The infrastructure is very poor there and they have to fly all their workers in to remote parts of the jungle to explore for gold. If they discover a large deposit, it will be very lucrative for the company compan y but there is a high probability that the th e sample could be from an area that has very little gold. What is the term to describe their potential for losing time and mon ey on this project? a. risk b. capital loss c. asset right off d. liability ANS: A PTS: 1 BLM: Higher Order

REF: 12

OBJ: 1

9. Which of the following best describes the situation when expenses ex penses are lower than revenue for

a business? a. risk b. profit c. surplus d. loss ANS: B PTS: 1 BLM: Higher Order

REF: 13

OBJ: 1



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Chapter 1 Politics: Governments’ Roles 10. Who do not-for-profit organizations work hand-in-hand with? a. churches b. investment banks c. businesses d. universities ANS: C PTS: 1 BLM: Higher Order

REF: 13

OBJ: 1

11. Types of not-for-profit organizations include which of the following? a. book stores b. museums c. movie theatres d. hockey rinks ANS: B PTS: 1 BLM: Higher Order

REF: 13

OBJ: 1

12. In which area of society do not-for-profit organizations play a critical role? a. the media b. the community c. the stock market d. the government ANS: B PTS: 1 BLM: Higher Order

REF: 13

OBJ: 1

13. What are not-for-profit organizations commonly known for supporting? a. politicians b. community service c. companies d. sports teams ANS: B PTS: 1 BLM: Higher Order

REF: 13

OBJ: 1

14. Not-for-profit organizations are are measured by different standards than for-profit businesses.

Who is responsible for regulating these organizations? a. their customers b. their vendors c. their suppliers d. the government ANS: D PTS: 1 BLM: Higher Order

REF: 13

OBJ: 1



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Chapter 1 Politics: Governments’ Roles 15. What are the three levels of government in Canada? a. federal, provincial, municipal b. federal, state, city c. country, province, city d. country, province, municipality ANS: A BLM: Remember

PTS: 1

REF: 13

OBJ: 2

16. Which of the following does the federal government have authority over? a. defence b. education c. health care d. garbage ANS: A BLM: Remember

PTS: 1

REF: 13

OBJ: 2

17. Which of the following does the federal government have authority over? a. health care b. education c. criminal law d. roads ANS: C BLM: Remember

PTS: 1

REF: 13

OBJ: 2

18. Which of the following does the federal government have authority over? a. roads b. education c. health care d. employment insurance ANS: D BLM: Remember

PTS: 1

REF: 13

OBJ: 2

19. Which of the following does the provincial government have authority over? a. roads b. education c. trade regulation d. employment insurance ANS: B BLM: Remember

PTS: 1

REF: 13

OBJ: 2



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Chapter 1 Politics: Governments’ Roles 20. Which of the following does the provincial government have authority over? a. criminal law b. health care c. trade regulation d. defence ANS: B BLM: Remember

PTS: 1

REF: 13

OBJ: 2

21. Which jurisdiction has the responsibility for education? a. federal b. provincial c. municipal d. community ANS: B PTS: 1 BLM: Higher Order

REF: 13

OBJ: 2

22. Labour laws are controlled by which level of government? a. federal b. provincial c. municipal d. community ANS: B PTS: 1 BLM: Higher Order

REF: 13

OBJ: 2

23. Which of the following does the municipal government have authority over? a. education b. water c. trade regulation d. health care ANS: B BLM: Remember

PTS: 1

REF: 14

OBJ: 2

24. Which of the following does the municipal government have authority over? a. health care b. sewers c. education d. trade ANS: B BLM: Remember

PTS: 1

REF: 14

OBJ: 2



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Chapter 1 Politics: Governments’ Roles 25. Who is responsible for ensuring that public resources have been properly allocated? a. the government tax department b. the police c. the government auditor d. the government accountants ANS: C PTS: 1 BLM: Higher Order

REF: 14

OBJ: 2

26. The federal government of Canada collects money from all the provinces and then

redistributes money from rich provinces to poorer ones. Alberta is making a lot of money right now due to the increased production in the Athabasca Tar Sands and the high price of oil. Some of the tax money is going from Alberta to Quebec via the th e federal government. What is the term to describe this? a. redistribution payments b. transfer payments c. transfer assistance d. rebalancing resource wealth ANS: B PTS: 1 BLM: Higher Order

REF: 14

OBJ: 3

27. What is the name of one of the specific programs used to equalize the wealth across the

country? a. Canada Equalization Transfer b. Canada Social Transfer c. Canada Education Transfer d. Canadian Province Balance ANS: B PTS: 1 BLM: Higher Order

REF: 14

OBJ: 3

28. Bylaws are controlled by which level of government? a. federal b. provincial c. municipal d. community ANS: C PTS: 1 BLM: Higher Order

REF: 14

OBJ: 2



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Chapter 1 Politics: Governments’ Roles 29. George is a maple syrup farmer in Northern Ontario. As there are a lot of other maple syrup s yrup

farmers in Canada the market is saturated. George wants to sell his maple syrup internationally but does not know how to go about it. He hears that the government will assist Canadian companies looking to export. ex port. Which level of government will assist George? a. federal b. provincial c. municipal d. city ANS: A PTS: 1 BLM: Higher Order

REF: 15

OBJ: 3

30. Which of the following government agencies enforces enfo rces the laws regulating unfair

competition? a. Business Practices Bureau b. Fair Trade Agency c. Competition Bureau d. Anti-Monopoly Bureau ANS: C PTS: 1 BLM: Higher Order

REF: 15

OBJ: 3

31. To stimulate competition and protect both consumers and workers, what does the federal

government do? a. It places heavy taxes on companies in monopolistic competition. b. It creates business systems to meet the needs of all consumers. c. It creates regulations to intervene in the free market. d. It places limits on international trade in order to stimulate domestic production. ANS: C PTS: 1 BLM: Higher Order

REF: 15

OBJ: 3

compan y. He builds roads into peoples cottages in Ontario. This 32. Jack runs a road construction company. is only a small portion of his business though as there th ere are few cottagers that can afford to build a private road. Who then would George rely on for most of his revenues? a. corporations b. individuals c. government d. not-for-profits ANS: C PTS: 1 BLM: Higher Order

REF: 15

OBJ: 3

33. A patent gives inventors exclusive rights to their inventions for how long? a. 20 months b. 17 years c. 20 years d. the lifetime of the inventor plus 50 years ANS: C BLM: Remember

PTS: 1

REF: 16

OBJ: 4



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Chapter 1 Politics: Governments’ Roles

34. Which of the following protects the original work of authors and artists (e.g., their books,

photos, or cartoons)? a. trademark b. copyright c. the uniform commercial code d. patent ANS: B BLM: Remember

PTS: 1

REF: 16

OBJ: 4

35. The Nike Swoosh and the Golden Arches of McDonald’s are protected by which of the

following? a. trademark b. patent c. copyright d. commercially protected symbol ANS: A BLM: Remember

PTS: 1

REF: 16

OBJ: 4

36. Who owns the copyright of a cartoon character created by an employee of a company as part

of their normal job responsibilities? a. the employee who created the cartoon character b. the employer of the cartoon character’s creator c. all of the employees that worked on the cartoon character d. the union that represents the employee ANS: B PTS: 1 BLM: Higher Order

REF: 16

OBJ: 4

37. The intent of a patent is to do which of the following? a. increase competition in the marketplace b. reward innovation and hard work of inventors c. slow the growth of monopolies d. encourage copycat inventions ANS: B PTS: 1 BLM: Higher Order

REF: 16

OBJ: 4

38. A private wrong that results in physical or mental harm to an individual or results in damage

to that person’s property is referred to as which of the following? a. tort b. punitive judgment c. felony d. misdemeanour ANS: A BLM: Remember

PTS: 1

REF: 18

OBJ: 4



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Chapter 1 Politics: Governments’ Roles 39. Rio Bravo Theme Park is known kno wn for its variety of roller coasters. Recently, it was reported

that two cars on the Macho Nacho roller coaster left the tracks, resulting in serious injuries to four riders. These riders are suing the theme park for damages, claiming that the maintenance procedures for the coasters were carelessly performed by the the park’s staff. When hearing the lawsuits, the courts will seek to determine whether Rio Bravo Them e park could be which of the following? a. guilty of a felony b. liable for a breach of contract c. guilty of a misdemeanour d. liable for an unintentional tort ANS: D PTS: 1 BLM: Higher order

REF: 18

OBJ: 4

40. The judgment handed out in civil court typically entails which of the following? a. only imprisonment b. compensation for injury c. public reprimands d. a combination of fines and imprisonment ANS: B PTS: 1 BLM: Higher order

REF: 18

OBJ: 4

41. The social movement designed to increase and strengthen the rights and powers of buyers bu yers in

business transactions is called which of the following? following? a. environmentalism b. capitalism c. socialism d. consumerism ANS: D BLM: Remember

PTS: 1

REF: 19

OBJ: 4

42. The warranty you receive in the box with your new DVD is which of the following? a. implied warranty b. express warranty c. uniform warranty d. commercial warranty ANS: B PTS: 1 BLM: Higher order

REF: 20

OBJ: 4

43. Which of the following guarantees that the product you buy will conform to the customary

standards of the trade/industry? a. implied warranty b. express warranty c. uniform warranty d. commercial warranty ANS: A PTS: 1 BLM: Higher order

REF: 20

OBJ: 4


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44. A warranty guarantees which of the following? a. The seller will replace or repair the product at no charge if the customer finds a

cheaper substitute. b. The buyer has read and understood the information provided in the owners’ manual. c. Consumers will have access to a customer complaint resolution hot line. d. The product sold will be acceptable for the purpose for which the buyer intends to use it. ANS: D PTS: 1 BLM: Higher order

REF: 20

OBJ: 4

45. Which of the following holds a company compan y responsible for negligence in the production, design,

sale, or use of products the company markets? a. breach of contract b. price discrimination c. unintentional harm responsibility d. product liability ANS: D PTS: 1 BLM: Higher Order

REF: 20

OBJ: 4

compan y liable for damages caused by a defective d efective product 46. Which of the following holds a company even if the company was unaware of the defect at the time of sale? a. network responsibility b. managerial liability c. patent infringement d. strict product liability ANS: D PTS: 1 BLM: Higher Order

REF: 20

OBJ: 4

47. Warren Tee was injured using a hair dryer manufactured b y the Whoopee Electrical Products

Company. Warren has contacted a lawyer law yer because he feels that Whoopee is responsible for his injury based on the legal principle of which of the following? a. restricted endorsement b. fault free obligations c. patent infringement d. strict liability ANS: D PTS: 1 BLM: Higher Order

REF: 20

OBJ: 4



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Chapter 1 Politics: Governments’ Roles 48. Under the doctrine of strict product liability, a manufacturer can be held liable under which of

the following conditions? a. for any injury or damage caused by products that do not meet industry standards b. only if the company knowingly sold a hazardous product c. only if the company purposefully was negligent ne gligent in the design or production of the product d. only if the company intentionally introduced a defective product ANS: A PTS: 1 BLM: Higher order

REF: 20

OBJ: 4

49. The Competition Act aims to ensure which of the th e following? a. no mergers of large corporations that restrict competition b. there is discriminatory pricing c. there are no monopolies d. competition is not cut-throat ANS: C PTS: 1 BLM: Higher order

REF: 20

OBJ: 4

50. What are taxes sometimes seen as? a. the price we pay to live in this country b. a necessary evil c. a civic duty d. a waste of money ANS: A BLM: Remember

PTS: 1

REF: 21

OBJ: 5

51. Progressive income taxes can be best described as which of the following? a. everyone pays the same tax rate percentage b. tax rates increase as income increases c. tax rates decline as income increases d. the rich get more tax breaks ANS: B BLM: Remember

PTS: 1

REF: 21

OBJ: 5

52. What type of income taxes do businesses pay? a. progressive b. flat c. regressive d. incremental ANS: B BLM: Remember

PTS: 1

REF: 21

OBJ: 5



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Chapter 1 Politics: Governments’ Roles 53. What are the four main types of taxes other than income taxes? a. gas, alcohol, sales and property b. excise, property, sales and alcohol c. property, payroll, sales and excise d. property, payroll, sales and GST ANS: C BLM: Remember

PTS: 1

REF: 21

OBJ: 5

54. What term is used to describe the value which wh ich property taxes are based on? a. assessed value b. fair value c. market value d. determined value ANS: A BLM: Remember

PTS: 1

REF: 21

OBJ: 5

55. Which province is the only one where there is no sales tax? a. Ontario b. British Columbia c. Quebec d. Alberta ANS: D BLM: Remember

PTS: 1

REF: 21

OBJ: 5

56. What does Sustainable Development Technology Canada provide money for? a. creating technology to deal with climate change issues b. developing technology to sustain our food supply c. trying and creating new startup companies d. advancing Canada’s research programs across the country ANS: A BLM: Remember

PTS: 1

REF: 22

OBJ: 6

57. What is Canada doing to deal with our lack of skilled workers? a. creating a program to attract skilled immigrants b. investing money in colleges c. giving companies tax breaks for more training d. giving scholarships for the skilled trade programs ANS: A BLM: Remember

PTS: 1

REF: 22

OBJ: 6



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Chapter 1 Politics: Governments’ Roles 58. What does The Code of Conduct for Procurement try to ensure for both public p ublic servants and

vendors? a. more transparency b. more taxes c. more bidders d. more competition ANS: A PTS: 1 BLM: Higher order

REF: 22

OBJ: 6

59. The Government of Canada’s primary training provider for Foreign S ervice is which of the

following? a. Canadian Foreign Service Institute b. Canadian Armed Forces c. United Nations d. Canadian School for Foreign Service ANS: C BLM: Remember

PTS: 1

REF: 23

OBJ: 6

60. This position is responsible for a provincial department’s day-to-day operations? a. Minister b. Deputy Minister c. Assistant Minister d. Head Minister ANS: C BLM: Remember

PTS: 1

REF: 23

OBJ: 6

TRUE/FALSE

1. Businesses are primarily focused on creating profits by offering products and services desired

by the consumer. ANS: T BLM: Remember

PTS: 1

REF: 12

OBJ: 1

2. Businesses focus on consumer needs by providing goods and services. ANS: T BLM: Remember

PTS: 1

REF: 12

OBJ: 1

3. A car wash is an example of a pure service. ANS: T BLM: Remember

PTS: 1

REF: 12

OBJ: 1



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Chapter 1 Politics: Governments’ Roles 4. Many products combine elements of both goods and services. ANS: T BLM: Remember

PTS: 1

REF: 12

OBJ: 1

5. When businesses create more goods and services, their activities increase the standard of

living, but have no impact on the quality of life. ANS: F BLM: Remember

PTS: 1

REF: 12

OBJ: 1

6. The standard of living reflects the output of goods and services available to a nation’s

population. ANS: T BLM: Remember

PTS: 1

REF: 12

OBJ: 1

7. “Quality of life” is a narrow measure of social welfare that is based exclusively on the

quantity and quality of goods and services produced by a society. ANS: F BLM: Remember

PTS: 1

REF: 12

OBJ: 1

8. One characteristic of all not-for-profit organizations is that they do not earn any revenue. ANS: F BLM: Remember

PTS: 1

REF: 13

OBJ: 1

9. A group of concerned community co mmunity leaders formed Homeless Help, a not-for-profit

organization providing shelter for homeless individuals. Aside from the fact that it doesn’t seek a profit, Homeless Help is likely to operate much like a regular business in many respects. ANS: T PTS: 1 BLM: Higher Order

REF: 13

OBJ: 1

10. Government taxation policies, called fiscal policy, have a certain flexibility. In times of a

weak economy, taxes may be lowered temporarily to stimulate the economy. ANS: T PTS: 1 BLM: Higher Order

REF: 13

OBJ: 2

11. The provincial governments are responsible for banking, criminal law, and employment

insurance. ANS: F BLM: Remember

PTS: 1

REF: 13

OBJ: 2



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Chapter 1 Politics: Governments’ Roles 12. Municipalities use bylaws to regulate how businesses operate. ANS: T BLM: Remember

PTS: 1

REF: 14

OBJ: 2

13. The federal government provides significant financial support to the provinces and territories

in the form of transfer payments. ANS: T BLM: Remember

PTS: 1

REF: 14

OBJ: 3

14. A patent gives inventors exclusive rights to their inventions for 20 years. ANS: T BLM: Remember

PTS: 1

REF: 17

OBJ: 4

15. A trademark gives exclusive legal protection to a name, symbol, or design that distinguishes

the goods or services of one seller from those of competitors. ANS: T BLM: Remember

PTS: 1

REF: 17

OBJ: 4

16. The recording industry’s legal action against individuals who do wnload music without paying

involves the infringement of a copyright. ANS: T BLM: Remember

PTS: 1

REF: 17

OBJ: 4

17. Congratulations! You’ve just finished composing a song that will be the next big hit. You’re

next step is to apply for a patent p atent through the Canadian Intellectual Property Office. ANS: F PTS: 1 BLM: Higher Order

REF: 17

OBJ: 4

18. The Nike Swoosh and the McDonald’s Golden Arches are examples of corporate trademarks. ANS: T BLM: Remember

PTS: 1

REF: 17

OBJ: 4

19. A tort is a private wrong that results in physical or mental ha rm to an individual or damage to

that person’s property. ANS: T BLM: Remember

PTS: 1

REF: 18

OBJ: 4

20. Consumerism is a social movement that seeks to increase and strengthen the rights and

powers of buyers in transactions with businesses. businesses. ANS: T BLM: Remember

PTS: 1

REF: 19

OBJ: 4



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21. The warranty you receive in the box with a DVD player is an express warranty. ANS: T BLM: Remember

PTS: 1

REF: 20

OBJ: 4

22. The offer of a 3 year or 36,000 mile warranty by a car dealer on a new vehicle is an example

of an implied warranty. ANS: F BLM: Remember

PTS: 1

REF: 20

OBJ: 4

23. The sole purpose of Canada’s federal Competition Act is to ensure that all advertising done by

corporations meets government standards. ANS: F BLM: Remember

PTS: 1

REF: 20

OBJ: 4

n ot collect provincial sales tax. 24. PEI is the only province that does not ANS: F BLM: Remember

PTS: 1

REF: 21

OBJ: 5

25. Canada’s federal government has decreased its investment in clean energy projects as there

are doubts about global warming. ANS: F BLM: Remember

PTS: 1

REF: 22

OBJ: 6

SHORT ANSWER

1. What is a business and how does it survive and maintain a profit? ANS:

A business is an organization that provides goods and/or services in an effort to earn a profit. In order to survive and maintain a profit, a business must efficiently produce goods and services that satisfy the needs of customers. Thus, the company compan y must be aware of changes in consumer attitudes and preferences that represent new opportunities. It must also be aware of new and innovative ways to lower costs and/or improve quality. PTS: 1

REF: 12

OBJ: 1

BLM: Remember



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Chapter 1 Politics: Governments’ Roles 2. Describe the similarities and differences between “quality of life” and “standard o f living.” ANS:

Standard of living is the quality and quantity of goods and services available to a population, typically measured by gross national income per capita. Quality of life is the overall sense of well-being experienced by either an individual or a group. Since the goods and services a nation’s citizens consume affect their well-being, the standard of living clearly affects the quality of life. But the quality of life also includes factors not directly measured by gross national income, such as political freedoms, the distribution (rather than simply the average amount) of income, environmental quality, and leisure time. PTS: 1

REF: 12

OBJ: 1

BLM: Remember

3. Explain the differences between a for-profit organization and a not-for-profit organization. ANS:

All businesses are regulated by the government and must comply with established standards. Like their profit-driven counterparts, not-for-profit organizations also offer products and services, collect revenues, and employ workers. For-profit organizations are profit driven and have the opportunity to offer their consumer products and a nd services for a fee. Not-for-profit organizations’ primary goal is to improve the quality of life for society. Th ey also partner with their communities by providing services to those who are not financially capable to purchase their products or services. PTS: 1

REF: 13

OBJ: 1

BLM: Remember

4. Explain the difference between monetary and fiscal policy and explain how they are

formulated. ANS:

Fiscal policy refers to government efforts to influence the econom y through taxation and spending decisions that are designed to encourage growth, boost employment, and curb inflation. This type of policy is enacted by the government through the budget process. Monetary policy refers to actions that shape the economy ec onomy by influencing interest rates and the supply of money. The Bank of Canada manages Canadian monetary policy. It does so by controlling the amount of reserves banks have available for making loans. PTS: 1

REF: 13

OBJ: 2

BLM: Remember

5. Describe some of the areas that the federal government gove rnment has authority over? ANS:

Money and banking, trade regulation, external e xternal relations, defence, criminal law, employment insurance, copyrights and transportation. PTS: 1

REF: 13

OBJ: 2

BLM: Remember



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Chapter 1 Politics: Governments’ Roles 6. Describe some of the areas that the provincial government has authority over? ANS:

Labour laws, education, health and welfare, natural resources, and protection of property, civil rights, and the environment. PTS: 1

REF: 13

OBJ: 2

BLM: Remember

7. What is a transfer payment? ANS:

Transfer payments are a redistribution of money from the wealthier provinces like Alberta to the poorer ones like in the Maritimes so that all Canadians C anadians can be provided with the same level of services like health care. PTS: 1

REF: 14

OBJ: 3

BLM: Remember

8. Why does the government provide incentives to individuals? ANS:

To encourage individuals to take courses to upgrade u pgrade their skills or provide student loans to make post-secondary education more accessible so people can get better jobs that will help the economy and bring in more tax revenue for the government. PTS: 1

REF: 15

OBJ: 3

BLM: Remember

9. Compare and contrast the protection offered by b y patents, copyrights, and trademarks. ANS:

Patents are for inventions; copyrights are for works of art, music, or literature; and trademarks are for exclusive designs, a name or distinctive mark that a manufacturer uses to identify its goods in the marketplace. Patents provide inventors exclusive rights to their inventions for 20 years from the date they file the patent applications with the Canadian Intellectual Property Office. Patent owners have the right to sell or license the use of a patent to others. Copyrights protect a creator’s ownership rights to materials such as books, articles, photos, music, paintings, and cartoons. Copyrights filed with the government p rovide for protection for the lifetime of the author or artist plus 50 years, which can be passed on to the creator’s heirs.

A trademark is a legally protected name, symbol, or design that identifies the goods or services of one seller and distinguishes them from those of competitors. Trademarks generall y belong to the owner forever, as long as they are properly registered and renewed every 10 years. PTS: 1

REF: 17

OBJ: 4

BLM: Remember



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Chapter 1 Politics: Governments’ Roles 10. Why was the Competition Act established? ANS:

To protect consumers from things like conspiracies, monopolies, and mergers. PTS: 1

REF: 20

OBJ: 4

BLM: Remember

11. What is the difference between a progressive tax and a nd a flat tax? ANS:

A progressive tax like personal income tax sees the rate go up the more your income goes up whereas a flat tax like the income taxes tax es for business are flat, meaning the same rate is applied to everyone. PTS: 1

REF: 21

OBJ: 5

BLM: Remember

12. What are sales taxes charged on? ANS:

Sales taxes are charged on goods when they are sold and are a percentage of the sales price. The rates vary from province to province. PTS: 1

REF: 21

OBJ: 5

BLM: Remember

13. Why is Alberta receiving $10 million from Sustainable Development Tech nology Canada? ANS:

To help make the oil sands sand s less damaging to the environment by b y testing using solvent instead of water to recover oil sands that are too deep to mine. PTS: 1

REF: 22

OBJ: 6

BLM: Remember

14. What is Canada doing to deal with our lack of skilled workers? ANS:

They created a Federal Skilled Worker Program to attract skilled immigrants to address the shortage. PTS: 1

REF: 22

OBJ: 6

BLM: Remember

15. What does The Code of Conduct for Procurement try to ensure for both public p ublic servants and

vendors? ANS:

More transparency in marketing, operations, and corporate social responsibility from Canadian businesses and government. PTS: 1

REF: 22

OBJ: 6

BLM: Remember



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Test Bank for the Future of Business 4th Canadian Edition by Althouse

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