Understanding Canadian Business
Baby Boomers - correct answerA demographic group of Canadians that were born in
the period from 1947 to 1966
Baby-Boom Echo - correct answerA demographic group of Canadians that were born in
the period from 1980 to 1995; the children of the baby boomers
Business - correct answerAny activity that seeks to provide goods and services to
others while operating at a profit
Business Environment - correct answerThe surrounding factors that either help or
hinder the development of business
Database - correct answerAn electronic storage file in which information is kept; one
use of databases is to store vast amounts of information about customers
Demography - correct answerThe statistical study of the human population with regard
to its size, density, and other characteristics such as age, race, gender, and income
E-Business - correct answerAny information systems or application that empowers
business process
E-Commerce - correct answerThe buying and selling of goods and services over the
Internet
Empowerment - correct answerGiving front-line workers the responsibility, authority,
and freedom to respond quickly to customer requests
Entrepreneur - correct answerA person who risks time and money to start and manage
a business
Factors of Production - correct answerThe resources used to crate wealth: land, labour,
capital goods, entrepreneurship, and knowledge
Goods - correct answerTangible products such as computers, food, clothing, cars and
appliances
Identify Theft - correct answerObtaining personal information about a person and using
that information for illegal purposes
Loss - correct answerWhen a business's expenses are more than its revenues
Non-Profit Organization - correct answerAn organization whose goals do not include
making a personal profit for its owners or organizers
