Understanding Canadian Business 10Th Canadian Edition By William G Nickels – Test Bank

The resources that students will rely on as they prepare for the exam should be relevant. One such resource is the Test bank which students find extremely beneficial, especially for exam revision. This Test Bank is conveniently structured so that every question and answer religion follows the textbook’s design – hence study becomes effortless and efficient.

Major Topics That You Can Expect to See in the Test Bank

With the aid of the Test Bank students should be comfortable as there are questions on the most likely topics, which will ensure you’re prepared for the exam. Some of the major topics covered include:

• International commerce and its theories of competitive and absolute edge.
• Business sectors in respect to the Canadian economy.
• Complete understanding of corporate social responsibility and business ethics.
• Overview of financial management, marketing, and strategies for companies’ competitive advantages in the Canadian economy.
• The characteristics of small enterprises and their position in the international economy.

Why Use the Test Bank?

A New Approach to Learning

The Test Bank is designed along with the textbook allowing you to proceed with the present relevance. It means that you do not spend as much time determining areas in which you might need more practice. That helps you manage your time better.

Multiple ways to test students’ understanding

It contains multiple-choice questions, true-false questions, and other short answer questions which are good for testing your knowledge in different ways. The variety in question formats prepares you to the variety in styles of questions that you will probably see in your final exams.

Speed of Grading and Feedback

As every question has an answer key, there is no need to skip a section because, in the end, you will easily check what you understood from it. This kind of feedback also aids you in eliminating mistakes and enhancing your positives thus improving your overall confidence before the actual examination.

Availability

The Test Bank can be downloaded from the Internet making it possible for you to prepare whenever you want and at any location. Such flexibility is very important for students who are very busy and have a lot of work to squeeze into a small time frame.

Aids in mastering key Concepts.

Utilizing the Test Bank will assist you in internalizing key business concepts such as marketing, management, and finance since its emphasis is on the core concepts of business.

Advantages of Using the Test Bank

• Good Quality Revision: Since the Test Bank is course-rounded, it is highly likely that you will not be caught off guard during examinations based on the specified chapters of the textbook.
• Content Improvement: As you endeavor to respond to questions as regards central business themes, you will be able to remember the bulk of the information that will be required during the test.
• Protect Low Morale: There will be no feelings of low self-esteem since the Test Bank will give you exposure to the types of questions that you are likely to encounter and the effective strategies to use while answering them.

Conclusion

If for any reason at all you are to excel while studying Canadian Business with the 10th Edition it will require the use of William G. Nickels Test Bank. It is a study tool that will reinforce learning of key areas, giving the learner room for good revision so that they can be ready for the exams. Test Applications also provide opportunities for organized drills, quick responses, and greater comprehension of some of the key themes of the textbook writer.

Understanding Canadian Business 10Th Canadian Edition By William G Nickels – Test Bank

Chapter 03

Competing in Global Markets

True / False Questions

1. Importing is the selling of products to another country.FALSE

Accessibility: Keyboard NavigationDifficulty: EasyLearning Objective: 03-01 Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.Topic: 03-01 The Dynamic Global Market

2. Exporting involves the selling of products to another country.TRUE

Accessibility: Keyboard NavigationDifficulty: EasyLearning Objective: 03-01 Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.Topic: 03-01 The Dynamic Global Market

3. One reason countries trade with other countries is that even technologically advanced nations cannot produce all the products their people want and need.TRUE

Accessibility: Keyboard NavigationDifficulty: EasyLearning Objective: 03-01 Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.Topic: 03-02 Why Trade with Other Nations?

4. Free trade is the movement of goods and services among nations without political or economic barriers.TRUE

Accessibility: Keyboard NavigationDifficulty: EasyLearning Objective: 03-01 Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.Topic: 03-02 Why Trade with Other Nations?

5. Global trade includes the exchange of goods and services across national borders.TRUE

Accessibility: Keyboard NavigationDifficulty: EasyLearning Objective: 03-01 Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.Topic: 03-02 Why Trade with Other Nations?

6. Absolute advantage is the basis for most global trade.FALSE

Accessibility: Keyboard NavigationDifficulty: MediumLearning Objective: 03-01 Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.Topic: 03-03 The Theories of Comparative and Absolute Advantage

7. Comparative advantage theory states that a country should sell to other countries those products that it produces most efficiently and buy from other countries those products it cannot produce as efficiently.TRUE

Accessibility: Keyboard NavigationDifficulty: MediumLearning Objective: 03-01 Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.Topic: 03-03 The Theories of Comparative and Absolute Advantage

8. Canada has a comparative advantage in coffee and shoes.FALSE

Accessibility: Keyboard NavigationDifficulty: MediumLearning Objective: 03-01 Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.Topic: 03-03 The Theories of Comparative and Absolute Advantage

9. A country has an absolute advantage if it has a monopoly in the production of a specific product or icanproduce it more efficiently than all other nations.TRUE

Accessibility: Keyboard NavigationDifficulty: EasyLearning Objective: 03-01 Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.Topic: 03-03 The Theories of Comparative and Absolute Advantage

10. Today there are few examples of absolute advantage in global markets.TRUE

Accessibility: Keyboard NavigationDifficulty: MediumLearning Objective: 03-01 Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.Topic: 03-03 The Theories of Comparative and Absolute Advantage

11. According to the theory of comparative advantage, a country should buy from other countries tthegoods it produces most efficiently.FALSE

Accessibility: Keyboard NavigationDifficulty: MediumLearning Objective: 03-01 Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.Topic: 03-03 The Theories of Comparative and Absolute Advantage

12. The comparative advantage theory states that all nations should strive to become self-sufficient intonjoy the highest standard of living.FALSE

Accessibility: Keyboard NavigationDifficulty: HardLearning Objective: 03-01 Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.Topic: 03-03 The Theories of Comparative and Absolute Advantage

13. The theory of absolute advantage explains most of today’s global trade.FALSE

Accessibility: Keyboard NavigationDifficulty: HardLearning Objective: 03-01 Describe the importance of the global market and the roles of comparative advantage and absolute advantage in global trade.Topic: 03-03 The Theories of Comparative and Absolute Advantage

14. Flynn Graphics is a small Canadian firm that began selling its products in the global market a few years ago. Flynn’s global approach is unusual, ince the trend has been for small firms to focus on domestic markets, leaving global markets to larger firms.FALSE

Accessibility: Keyboard NavigationDifficulty: MediumLearning Objective: 03-02 Explain the importance of importing and exporting;, anddefine key terms used in global business.Topic: 03-04 Getting Involved in Global Trade

15. Anything that can be imported into Canada can be sold within Canada.FALSE

Accessibility: Keyboard NavigationDifficulty: EasyLearning Objective: 03-02 Explain the importance of importing and exporting; , andefine key terms used in global business.Topic: 03-05 Importing Goods and Services.