Business Environment Quiz

What is the macro environment?

• The external factors affecting a business

• The competition within a business

• The internal factors of a business

• The employees of a business

What do logistics flows include?

• Cash flows only

• Raw materials and finished products

• Only work in progress

• Only cash transactions

What is a key factor in the microenvironment?

• Customers

• Government policies

• Global economy

• Natural disasters

What do political factors influence?

• The price of products

• The weather

• How freely a business can operate

• The number of employees

What is a sociocultural factor?

• Legal regulations

• Technological advancements

• Cultural trends

• Economic growth

What can affect a company's performance?

• Only internal factors

• Only external factors

• Both internal and external factors

• Only customer preferences

What is a substitute product?

• A product that is more expensive

• A product that meets the same needs

• A product that is not available

• A product that is cheaper

What do economic factors include?

• Only inflation

• Household purchasing power

• Only consumer behavior

• Only government policies

What is a strength in a SWOT analysis?

• An external threat

• A negative point

• A positive force

• A market opportunity

What is a weakness in a business?

• A strong market position

• An opportunity for growth

• A negative point

• A positive attribute