Question

GM once employed th or moved them to once employed thousands of people in Ontario. For a variety of reasons GM closed factories ad them to different locations. As a result, thousands of people were laid off and not able to Ora iobs that paid as well. This is an example of which of the following? social disruption b. health and safety risks C. community development d. offering valuable products 51. Although all casual clothing ultimately provides the same purpose, companies such as The Gap strive to make their brand seem unique from the many other brands available on the market. The market for casual clothing can best be characterized as which of the following? a. an oligopoly monopolistic competition c. a monopolyd. pure competition any other monopolice character 52. Women, people with disabilities Aboriginal les and visible minorities are mandated by the federal government to have equal employment opportunities. This law was enacted in 1986. What is the name of the legislation? a. Human Rights Actb. Employment Equity Act c. Fair Hiring Act d. Equal Opportunity Act 53. Perfect competition is characterized by which of the following? a few buyers and few sellers b. many buyers and many sellers c. a few companies that control the market d. few buyers and many sellers 54. Which of the following best describes business ethics? a. well-defined rules for appropriate business behaviour b. laws and regulations that govern business c. a good theory but rarely practised d the application of moral standards to business situations 55. Which of the following is another name for an import duty? a. limitation b. embargo C. quota de tariff 56. If Procter & Gamble, a North American leader in household products, and Reckitt Benckiser, a British leader in household products, form a partnership to develop and distribute a line of ecologically friendly laundry detergent, what would the resulting partnership be? a. a joint venture b. an economic community c. a corporation d. a licensing agreement 57. Which of the following industries would most likely have the characteristics of an oligopoly? a. makeup b. clothing automobiles d. cameras Page 9

Answer 1

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50	Social Disruption
51	Monopolistic Competition
52	Employment equity act
53	Many buyers and many sellers
54	The application of moral standards to business situations
55	Tariff
56	Joint Venture
57	Automobiles