Understanding External Influences Quiz

What is the main focus of the 1.5 Understanding External Influences video?

• Introduction to business management

• Financial accounting

• Marketing strategies

• Understanding external influences on businesses

Who are considered internal stakeholders in a business?

• Local community and pressure groups

• Customers and suppliers

• Government and lenders

• Employees, directors, and managers

What do majority shareholders typically want from a business?

• Regular orders

• To make a profit

• Promotion opportunities

• Job security

Which of the following is an example of an external stakeholder?

• Directors

• Customers

• Managers

• Employees

What is e-commerce?

• Selling products online

• Selling products in physical stores

• Advertising on TV

• Communicating through newsletters

How can social media be used by businesses?

• For financial accounting

• For legal compliance

• For manufacturing products

• For targeted advertising

What is the main purpose of consumer legislation?

• To ensure product quality and fair advertising

• To protect the rights of employees

• To regulate financial markets

• To ensure fair recruitment

What does the Equal Pay Act address?

• Environmental protection

• Consumer rights

• Equal pay for men and women

• Taxation policies

What is the impact of high inflation on consumers?

• Lower cost of living

• Decreased ability to spend

• Increased purchasing power

• Higher wages

What is the purpose of Income Tax?

• To tax business profits

• To tax consumer spending

• To tax consumer income

• To tax imports and exports