BUSI 101_Week 2_Short

Which of the following is NOT a type of environment mentioned in the context of business?

• Economic

• Technological

• Political

• Biological

Measures of economic performance include GDP, GNP, productivity, trade balance, and ________.

• A) National debt

• B) Inflation

• C) Interest rates

• D) Exchange rates

What does the technological environment encompass?

• Only electronics

• Various ways firms create value

• Only telecommunications

• Only processing systems.

What is one way successful companies respond to external challenges?

• By ignoring them

• By redefining traditional organizational boundaries

• By increasing prices

• By reducing workforce.

The external environment of an organization includes various distinct environments. Which of the following is one of them?

• Economic conditions

• Employee preferences

• Internal policies

• Office layout

Fill in the blank: The external environment includes ethical and social responsibility concerns, the business environment itself, and other ______ challenges.

• outdated

• emerging

• past

• resolved

Which of the following is a factor of the economic environment?

• Rate of technological innovation

• Rate of economic growth

• Cultural diversity

• Political stability

The level of _______ is a factor in the economic environment.

• employment

• inflation

• unemployment

• growth

Identify a component of the economic environment.

• Rate of inflation

• Cultural norms

• Political laws

• Technological trends

What does GDP stand for?

• Gross Domestic Product

• General Domestic Product

• Gross Development Product

• General Development Product