Business Studies Quiz - Week 1

What are the two categories of the business environment discussed?

• Micro and Macro

• Local and Global

• Public and Private

• Internal and External

Which factor is NOT part of the micro environment?

• Suppliers

• Employees

• Customers

• Political factors

What is the role of competitors in the micro environment?

• To create a competitive advantage

• To provide funding

• To ensure legal compliance

• To manage supply chains

Which of the following is a macro environmental factor?

• Employees

• Suppliers

• Technological factors

• Customers

What does financial management primarily focus on?

• Recruiting employees

• Managing budgets and accounting

• Ensuring customer satisfaction

• Creating marketing strategies

Which function involves sourcing and buying raw materials?

• Customer Service

• General Management

• Purchasing and Procurement

• Production and Operations

What is the main goal of marketing and sales?

• To handle record-keeping

• To manage employee performance

• To identify customer needs

• To ensure legal compliance

Which function is responsible for after-sales support?

• Human Resource Management

• Customer Service

• Financial Management

• Administration and IT Support

What is a key responsibility of general management?

• Sourcing raw materials

• Providing leadership and direction

• Conducting market research

• Managing supply chains

Which of the following is NOT a critical function of a business?

• Financial Management

• General Management

• Customer Service

• Market Research