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WorksheetsFPII Unit 4 4.01 Test
Total questions: 10
Worksheet time: 50mins
Which is an example of an external factor that might affect the business environment?
Staff members are reassigned duties
The business develops a new product
The government implements new regulations
The business improves its information systems
Businesses are affected by social factors in the external environment because:
customer needs are also affected by these factors
a business must use social networking to survive
every business creates consumers products
customers no longer value quality
Jonathan has some extra money to spend this month, so he purchases an iPad. He wants it only to play games on, making it a:
consumer staple
discretinary item
poor buying decision
technological product
Industry associations differ from regulatory agencies in that they:
exist to make a profit
lack government authority
are formed only for social purposes
have been created to protect consumes
How does technology affect a business's customers
It makes them sprend more money
It influences what they want and need
It emphasizes certain cultural differences
It distracts them from making infomred buying decisions
Every new business owner must pay attention to forces operating outside the company that affect its chances for success. These forces are referred to as:
the external environment
cultural intelligence
demographics
competition
When an economy is struggling, consumers are less likely to make discretionary purchases. Which is an example of a discretionary item?
food
clothing
vacation
medical care
Whick business environment provides the most options for consumers?
monopoly
common economy
global competition
international sanctions
Laura is part of a group that is traveling to the state capitol to convince legislators to pass laws that are favorable for small businesses. This is a pratice known as:
environmental scanning
globalization
outsourcing
lobbying
Amie deals with people from many different countries, so she studies their customs and traditions to become sensitive to these differences. Amie is developing:
social responsibility
cultural intelligence
demographics
globalization
