BE 3rd Quiz

1. 1. What is meant by the business environment?

• 1. a) Internal factors affecting a business

• 1. b) External and internal factors influencing business operations

• 1. c) Only economic factors affecting business

• 1. d) Only political factors affecting business

Which of the following is NOT a component of the business environment?

• a) Economic environment

• b) Social environment

• c) Legal environment

• d) Personal environment

Which of the following best describes a dynamic business environment?

• a) It remains stable over time

• b) It constantly changes due to external factors

• c) It is unaffected by government policies

• d) It is not influenced by globalization

What is the main objective of studying the business environment?

• a) To maximize costs

• b) To ignore competition

• c) To adapt to changes and make informed decisions

• d) To reduce innovation

Which factor is a part of the economic environment?

• a) Government policies

• b) Social norms

• c) Inflation and interest rates

• d) Consumer preferences

Which is NOT an external factor affecting the business environment?

• a) Political policies

• b) Technological changes

• c) Organizational structure

• d) Competitor strategies

Which of the following is an example of a technological factor affecting the business environment?

• a) Change in tax rates

• b) New product innovations

• c) Trade regulations

• d) Inflation rates

Which sector is considered the backbone of an economy?

• a) Primary sector

• b) Secondary sector

• c) Tertiary sector

• d) All of the above

What does the political environment of business refer to?

• a) Economic policies of a country

• b) Social and cultural trends

• c) Government actions and policies that impact businesses

• d) The impact of natural disasters on businesses

Which of the following political factors can influence business decisions?

• a) Trade regulations

• b) Consumer preferences

• c) Market competition

• d) Organizational culture