CHAPTER 1—POLITICS: GOVERNMENTS’ ROLES
MULTIPLE CHOICE
1. Which of the following terms best describes an organization that provides goods and
... [Show More] services in an effort to earn a profit?
a.
a not-for-profit
b.
the government
c.
a charity
d.
a business
ANS: D PTS: 1 REF: 12 OBJ: 1
BLM: Remember
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 REF: 12 OBJ: 1
BLM: Higher order
3. What do Uno’s Pizzeria and LensCrafters have in common?
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 REF: 12 OBJ: 1
BLM: Higher order
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 REF: 12 OBJ: 1
BLM: Higher order
5. Which term refers to the products and goods available to a population for a period of time?
a.
economic growth
b.
entrepreneurship
c.
quality of life
d.
standard of living
ANS: D PTS: 1 REF: 12 OBJ: 1
BLM: Remember
Chapter 1 Politics: Governments’ Roles
Copyright © 2014 Nelson Education Ltd. 1-2
6. People living in Okinawa, Japan, have the longest life spans in the world. Researchers have looked at many factors that contribute to their longevity. 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 REF: 12 OBJ: 1
BLM: Higher Order
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 REF: 12 OBJ: 1
BLM: Higher Order
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 but there is a high probability that the sample could be from an area that has very little gold.
What is the term to describe their potential for losing time and money on this project?
a.
risk
b.
capital loss
c.
asset right off
d.
liability
ANS: A PTS: 1 REF: 12 OBJ: 1
BLM: Higher Order
9. Which of the following best describes the situation when expenses are lower than revenue for a business?
a.
risk
b.
profit
c.
surplus
d.
loss
ANS: B PTS: 1 REF: 13 OBJ: 1
BLM: Higher Order
Chapter 1 Politics: Governments’ Roles
Copyright © 2014 Nelson Education Ltd. 1-3
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 REF: 13 OBJ: 1
BLM: Higher Order
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 REF: 13 OBJ: 1
BLM: Higher Order
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 REF: 13 OBJ: 1
BLM: Higher Order
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 REF: 13 OBJ: 1
BLM: Higher Order
14. Not-for-profit organizations 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 REF: 13 OBJ: 1
BLM: Higher Order
Chapter 1 Politics: Governments’ Roles
Copyright © 2014 Nelson Education Ltd. 1-4
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 PTS: 1 REF: 13 OBJ: 2
BLM: Remember
16. Which of the following does the federal government have authority over?
a.
defence
b.
education
c.
health care
d.
garbage
ANS: A PTS: 1 REF: 13 OBJ: 2
BLM: Remember
17. Which of the following does the federal government have authority over?
a.
health care
b.
education
c.
criminal law
d.
roads
ANS: C PTS: 1 REF: 13 OBJ: 2
BLM: Remember
18. Which of the following does the federal government have authority over?
a.
roads
b.
education
c.
health care
d.
employment insurance
ANS: D PTS: 1 REF: 13 OBJ: 2
BLM: Remember
19. Which of the following does the provincial government have authority over?
a.
roads
b.
education
c.
trade regulation
d.
employment insurance
ANS: B PTS: 1 REF: 13 OBJ: 2 [Show Less]