AFM 131 Quiz #1

<p>The average change in prices for a fixed basket of commonly purchased goods. (B)</p> Signup and view all the answers

<p>A long duration of declining economic activity. (B)</p> Signup and view all the answers

<p>The total accumulated deficits the government incurs over time. (B)</p> Signup and view all the answers

<p>Political, Economic, Social, and Technological factors. (C)</p> Signup and view all the answers

<p>The examination of economy-wide phenomena such as inflation and unemployment. (A)</p> Signup and view all the answers

<p>The financial and psychological costs involved in changing suppliers (A)</p> Signup and view all the answers

<p>Market price elasticity (A)</p> Signup and view all the answers

<p>Social, economic, and environmental performance (A)</p> Signup and view all the answers

<p>Two or more consecutive quarters of GDP decline (B)</p> Signup and view all the answers

<p>Enhancing the welfare of society and the environment (A)</p> Signup and view all the answers

<p>Individuals or entities with an interest in an organization's activities (C)</p> Signup and view all the answers

<p>Progress towards social responsibility goals (A)</p> Signup and view all the answers

<p>Donating funds or skills to charitable causes (B)</p> Signup and view all the answers

<p>To create, communicate, and deliver value to customers. (D)</p> Signup and view all the answers

<p>Setting a low initial price to build a customer base. (C)</p> Signup and view all the answers

<p>To make a product unique compared to competitors. (D)</p> Signup and view all the answers

<p>Maturity stage. (B)</p> Signup and view all the answers

<p>Market research. (B)</p> Signup and view all the answers

<p>To develop long-term customer loyalty. (C)</p> Signup and view all the answers

<p>Product line. (B)</p> Signup and view all the answers

<p>To gather customer feedback on a new product. (B)</p> Signup and view all the answers

<p>Customer loyalty and awareness (B)</p> Signup and view all the answers

<p>To evaluate profitability and identify the break-even point (A)</p> Signup and view all the answers

<p>It involves companies that may not be end users (D)</p> Signup and view all the answers

<p>Encourage customers to share their product experiences publicly (A)</p> Signup and view all the answers

<p>Mobilizing the ideas of individual customers to design a product (B)</p> Signup and view all the answers

<p>Capturing data to enhance customer engagement (B)</p> Signup and view all the answers

<p>Dividing a total market into distinct customer segments (A)</p> Signup and view all the answers

<p>Primary research involves surveys and interviews, while secondary research includes published data (B)</p> Signup and view all the answers

<p>To support emerging leaders with their goals (D)</p> Signup and view all the answers

<p>Workers who engage in short-term projects (B)</p> Signup and view all the answers

<p>Working required hours over fewer days for longer weekends (C)</p> Signup and view all the answers

<p>Optional benefits that help attract and retain employees (A)</p> Signup and view all the answers

<p>To reduce employee turnover (B)</p> Signup and view all the answers

<p>Onboarding (C)</p> Signup and view all the answers

<p>The complete journey of an employee in a company from start to finish (A)</p> Signup and view all the answers

<p>Employees can choose their hours outside of core hours (D)</p> Signup and view all the answers

<p>To provide exposure to different areas and develop future leaders. (D)</p> Signup and view all the answers

<p>It provides a comfortable learning environment away from daily pressures. (C)</p> Signup and view all the answers

<p>It evaluates equal pay for work of equal value based on neutral factors. (D)</p> Signup and view all the answers

<p>Employees work remotely while maintaining connectivity through technology. (D)</p> Signup and view all the answers

<p>Actual performance against established standards. (A)</p> Signup and view all the answers

<p>To create an incentive based on company performance targets. (C)</p> Signup and view all the answers

<p>Using equipment to replicate job conditions for safe learning experiences. (C)</p> Signup and view all the answers

<p>The percentage of employees that leave the company each year. (B)</p> Signup and view all the answers

The rate at which the Bank of Canada lends money to Canadian financial institutions.

The rise and fall in economic activity over time.

A price index measuring changes in prices of commonly purchased goods.

Land, labor, capital, entrepreneurship, and knowledge needed to produce goods and services.

Government actions (taxes and spending) to stabilize the economy.

The total value of goods and services produced in a country in one year.

A sustained increase in the general price level of goods and services.

Actions by a central bank to manage money supply and interest rates.

The overall value of a brand, built by strong awareness and customer loyalty.

Calculates the point where sales cover expenses, showing when profit begins.

A company selling products or services to other businesses.

A company selling products or services directly to consumers.

Encouraging customers to share their positive experiences with a product or service.

Sharing a product idea with potential customers to get feedback before production.

Systems that track customer data to build relationships and encourage engagement.

Connecting with customers directly through methods like telemarketing, mail, or email.

A framework for analyzing the competitive landscape by considering: competition, threat of new entrants, supplier bargaining power, customer bargaining power, and substitutes.

A period of economic decline characterized by two or more consecutive quarters of negative GDP growth.

Individuals or entities with an interest in an organization's actions, including customers, suppliers, employees, competitors, government, and unions.

The monetary or psychological costs associated with changing from one product or supplier to another.

A strategic planning tool used to evaluate an organization's Strengths, Weaknesses, Opportunities, and Threats.

A company's reporting on its social, environmental, and economic performance, often referred to as 'people, planet, and profit.'

The percentage of the labor force actively seeking work or working.

How a company acts responsibly towards its stakeholders and the environment.

The process of creating, communicating, and delivering value to customers.

The strategies a company uses to influence customer demand. It includes product, price, place, and promotion.

Reaching a wide audience with a single product offering.

Setting a low initial price for a new product to enter a competitive market or build a customer base.

Direct face-to-face interaction between a seller and a buyer to promote a product.

Highlighting features that make a product unique compared to competitors.

The stages of a product's sales: introduction, growth, maturity, and decline.

A group of similar products offered by a company.

Employees choose from a set of benefits that fit their needs, up to a specific dollar amount.

One-on-one discussions to support emerging leaders with their goals and career direction.

Pay based on a percentage of sales, often used for sales professionals.

The remuneration provided to employees in exchange for their services.

Employees work their required hours over fewer days, creating a longer weekend.

Workers with short-term projects or temporary needs, not regular full-time employment.

The journey of employees through a company, from recruitment to offboarding.

Attracting and selecting top talent for roles within a company.

A training method where employees move between different roles in a company to gain diverse skills and perspectives.

Training that uses replicated job conditions to practice tasks in a safe environment.

Learning outside the workplace, potentially at conferences or in comfortable settings, emphasizing the value of development.

Practical learning by doing tasks or observing experienced employees.

Learning through online platforms like webinars, courses, or workshops, offering flexibility and accessibility.

Ensuring equal pay for work of equal value, considering factors like skills, effort, and responsibilities.

Evaluating employee performance against set standards to inform decisions about training, compensation, or promotions.

Emerging leaders assisting experienced leaders with tasks and responsibilities, preparing for future leadership roles.