Answer - C) The external factors that affect a business
2
Which of the following is NOT an external factor in the business environment?
Correct!
Wrong :(
Answer - B) Company culture
3
Which economic system allows for private ownership of businesses and competition in the marketplace?
Correct!
Wrong :(
Answer - B) Capitalism
4
Which of the following is an example of a macroeconomic factor?
Correct!
Wrong :(
Answer - B) Inflation rate
5
SWOT analysis stands for:
Correct!
Wrong :(
Answer - B) Strengths, Weaknesses, Opportunities, Threats
6
Which of the following is NOT a component of the PESTEL analysis framework?
Correct!
Wrong :(
Answer - D) Ethical
7
The process of scanning the business environment to identify and interpret potential trends and threats is known as:
Correct!
Wrong :(
Answer - B) Environmental analysis
8
Which of the following is a microeconomic factor that can affect a business?
Correct!
Wrong :(
Answer - B) Market demand for a product
9
A companys code of ethics is an example of which aspect of the business environment?
Correct!
Wrong :(
Answer - A) Social
10
Which of the following is NOT a common type of economic system?
Correct!
Wrong :(
Answer - C) Anarchy
11
What is the primary goal of competitive analysis in the business environment?
Correct!
Wrong :(
Answer - B) To identify strengths and weaknesses of competitors
12
Which environmental factor refers to the study of how human populations change in size, structure, and distribution?
Correct!
Wrong :(
Answer - B) Demographic
13
Which of the following is NOT an example of a political factor in the business environment?
Correct!
Wrong :(
Answer - C) Cultural values
14
Which term refers to the legal protection of inventions and intellectual property?
Correct!
Wrong :(
Answer - C) Patent
15
Which of the following is NOT a component of the external business environment?
Correct!
Wrong :(
Answer - A) Organisational culture
16
Which of the following is an example of a technological factor in the business environment?
Correct!
Wrong :(
Answer - C) Internet connectivity
17
What does the acronym GDP stand for?
Correct!
Wrong :(
Answer - B) Gross Domestic Product
18
Which type of business environment analysis assesses the strengths and weaknesses of a companys internal factors?
Correct!
Wrong :(
Answer - B) SWOT analysis
19
Which economic indicator measures the general increase in prices for goods and services?
Correct!
Wrong :(
Answer - B) CPI (Consumer Price Index)
20
In the context of globalization, what does the term offshoring refer to?
Correct!
Wrong :(
Answer - A) The process of moving production or business operations to another country
21
Which of the following is a key element of the social-cultural component of the business environment?
Correct!
Wrong :(
Answer - B) Consumer behaviour
22
Which international organisation is primarily responsible for promoting free trade and reducing trade barriers among its member countries?
Correct!
Wrong :(
Answer - B) World Trade Organization (WTO)
23
What term is used to describe the economic condition of rising unemployment combined with rising inflation?
Correct!
Wrong :(
Answer - A) Stagflation
24
Which of the following is NOT a common form of business organisation?
Correct!
Wrong :(
Answer - D) Oligopoly
25
What does the term market segmentation refer to in the context of marketing and the business environment?
Correct!
Wrong :(
Answer - A) The division of a market into distinct groups of buyers with similar needs and behaviours
26
Which of the following is an example of a legal factor in the business environment?
Correct!
Wrong :(
Answer - B) Taxation laws
27
What is the term for the economic theory that suggests government intervention in the market should be limited?
Correct!
Wrong :(
Answer - C) Laissez-faire economics
28
Which of the following is a characteristic of a monopoly?
Correct!
Wrong :(
Answer - B) Single seller with no close substitutes
29
Which type of risk is associated with changes in government policies and regulations?
Correct!
Wrong :(
Answer - B) Political risk
30
Which of the following is an example of a fiscal policy tool that a government can use to influence the business environment?
Correct!
Wrong :(
Answer - C) Taxation
31
Which business structure provides limited liability to its owners and is not taxed at the corporate level?
Correct!
Wrong :(
Answer - D) Limited liability company (LLC)
32
What is the term for the set of shared values, beliefs, and norms that shape an organisations behaviour and culture?
Correct!
Wrong :(
Answer - C) Corporate culture
33
Which of the following is an example of a demographic factor in the business environment?
Correct!
Wrong :(
Answer - B) Age of the population
34
What is the primary goal of environmental scanning in the business environment?
Correct!
Wrong :(
Answer - B) To identify opportunities and threats
35
Which term refers to the total value of all goods and services produced within a country in a specific time period?
Correct!
Wrong :(
Answer - B) Gross Domestic Product (GDP)
36
In a partnership, which type of partner has unlimited liability for the debts of the business?
Correct!
Wrong :(
Answer - A) General partner
37
Which type of business environment factor includes the attitudes, values, and lifestyles of a society?
Correct!
Wrong :(
Answer - C) Socio-cultural
38
What is the term for the process of bringing a product or service to market and managing its sales and distribution?
Correct!
Wrong :(
Answer - A) Marketing
39
Which type of economic system is characterised by government ownership of major industries and central planning of production and distribution?
Correct!
Wrong :(
Answer - C) Communism
40
Which of the following is an example of a technological advancement that can disrupt traditional businesses?
Correct!
Wrong :(
Answer - B) Internet of Things (IoT)
41
Which of the following best describes a sole proprietorship?
Correct!
Wrong :(
Answer - C) A business owned and operated by a single individual
42
Which type of business organisation offers its owners limited liability and is taxed as a partnership?
Correct!
Wrong :(
Answer - D) Limited liability company (LLC)
43
Which international organisation is primarily responsible for providing financial assistance and development aid to countries in need?
Correct!
Wrong :(
Answer - D) World Bank
44
What is the term for the process of systematically evaluating a companys strengths, weaknesses, opportunities, and threats?
Correct!
Wrong :(
Answer - C) SWOT analysis
45
Which of the following is an example of a political factor in the business environment?
Correct!
Wrong :(
Answer - C) Trade regulations
46
Which type of economic system is a blend of capitalism and socialism, with some industries privately owned and others owned or controlled by the government?
Correct!
Wrong :(
Answer - C) Mixed economy
47
What term is used to describe the process of evaluating a companys financial performance and stability?
Correct!
Wrong :(
Answer - C) Financial analysis
48
What is the term for the process of selling products or services to customers in foreign countries?
Correct!
Wrong :(
Answer - B) Exporting
49
Which of the following is a characteristic of a partnership?
Correct!
Wrong :(
Answer - D) Unlimited liability for some partners
50
Which term refers to the amount of money that a business earns after all expenses and taxes have been deducted?
Correct!
Wrong :(
Answer - B) Net income
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Question. What is/Introduction of Business Environment
Answer. Definition of Business Environment is sum or collection of all internal and external factors such as employees, customers needs and expectations, supply and demand, management, clients, suppliers, owners, activities by government, innovation in technology, social trends, market trends, economic changes, etc.