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Arbus 101

QuestionAnswer
Absolute advantage occurs when? When a country has a monopoly on producing a product.
Which strategy for competing in global markets has the lowest profit potential? Licensing
When would an unfavourable balance of trade occur? When imports exceed the value exports.
What's an embargo? A complete ban of the imports/exports of certain products from specific countries.
Municipal gov'ts have laws and regulations concerning what? Any business that serves food.
What is the main reason for Canada's uneven economic development? Uneven resources, climate, and geography.
Why have the difficulties arising from interprovincial trade barriers have been lessened? The Agreement on Internal Trade.
What has the Canadian government's involvement in the economy been trending towards? Having a reduced role.
What are the efforts by the Bank of Canada to control the money supply and interest rates known as? Monetary policy
What do people argue the best way to develop the Canadian economy is? A long term industrial policy.
What is an example of how a national industrial policy would be implemented? A combination of financial support and protective tariffs focused on industries deemed vital to Canada's future development.
What is the selling off of Canadian government owned crown corporations such as Air Canada and Canadian National Railway (CNR) is called? Privitization
All levels of government offer a variety of assistance programs to businesses that include what? Grants and loans, consulting advice, and information.
Your local newspaper has a story in its business section that reports that Canadian government spending will again exceed tax revenues. This means what? National debt will increase.
What is the process of identifying factors that can affect marketing success? Environmental scanning
What 3 things is the marketing concept era based on? (1) a customer orientation, (2) a service orientation, and (3) a profit orientation.
Created by: Emydarling
 

 



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