Understanding the External Environment

Understanding the External Environment

Assessment

Flashcard

Business

12th Grade

Hard

Created by

K Lopez

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

What is the external environment in business?

Back

The external environment consists of factors outside of a business's control that impact its operations, decision making, and strategies.

2.

FLASHCARD QUESTION

Front

What does PESTLE stand for?

Back

Political, Economic, Social, Technological, Legal, Environmental / Ethical

3.

FLASHCARD QUESTION

Front

What is the political environment?

Back

The political environment includes government actions that impact strategic and functional decisions made by businesses.

4.

FLASHCARD QUESTION

Front

What support can governments provide to businesses?

Back

Governments can provide grants, training, and support for specific purposes such as relocation and financial management.

5.

FLASHCARD QUESTION

Front

What is a Trading Bloc?

Back

A Trading Bloc is an agreement between governments of a group of countries to trade freely, usually without trade barriers.

6.

FLASHCARD QUESTION

Front

What is the economic environment?

Back

The economic environment consists of key economic factors that influence the behavior of businesses and their customers.

7.

FLASHCARD QUESTION

Front

What is Fiscal Policy?

Back

Fiscal Policy manages economic growth by influencing demand and employment through government spending and taxation.

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