Business Environment - Chp 3

What is meant by business environment?

• The internal rules of a business
• All forces outside the business that affect it
• Only government rules
• Only customers

Which of the following is part of the economic environment?

• Religion
• Inflation
• Festivals
• Technology

Which is NOT part of non-economic environment?

• Customs
• Technology
• Population
• Income level

Which of these is a responsibility of a socially responsible business?

• Avoid paying taxes
• Donate expired goods
• Care for the environment
• Ignore safety rules

What is included in the demographic environment?

• Weather
• Income tax
• Age and population
• GST policy

Why should a business know its target demographic?

• To reduce prices
• To understand customer needs
• To stop advertising
• To sell to everyone

Liberalisation means:

• More government control
• Less government rules on business
• No business allowed
• Only one business allowed

The political environment includes:

• Laws and government stability
• Festivals
• Technology
• Education

What would affect a cold drink company the most?

• Cold weather
• High taxes
• Rainfall in another country
• Books being expensive

What is business ethics?

• Avoiding customers
• Selling only online
• Doing the right thing in business
• Copying others