NEW
Font size
WorksheetsExternal influences on business 1
Total questions: 15
Worksheet time: 8mins
Which of the following is a characteristic of an upswing in the economic cycle?
Decreased consumer spending
Increased unemployment
Increased business investment
Lower profits for businesses
Which of the following is a characteristic of a downswing in the economic cycle?
Increased consumer spending
Decreased unemployment
Lower profits for businesses
Increased business investment
Which of the following is an example of a fiscal policy the government might use?
Lowering interest rates
Increasing government spending
Deregulating an industry
Encouraging environmental awareness
Which of the following is an example of a monetary policy the RBA might use?
Increasing taxes
Decreasing government spending
Lowering interest rates
Promoting health consciousness
What is the main purpose of microeconomic reform?
To decrease competition
To increase government regulation
To increase competition and efficiency
To discourage technological innovation
The growing awareness of health and wellness has primarily led to:
Decreased demand for organic food
Increased demand for organic food
Decreased demand for fitness products
Increased demand for unhealthy products
Increasing concern for the environment has led to:
Businesses increasing waste production
Businesses adopting sustainable practices
Decreased demand for renewable energy
Businesses ignoring environmental regulations
Australia's aging population has created opportunities for businesses in:
The fast-food industry
The aged care sector
The toy industry
The entertainment industry
The rise of e-commerce has allowed small businesses to:
Only sell locally
Reach a global customer base
Avoid using technology
Decrease their marketing efforts
Automation has primarily increased what in manufacturing and other industries?
Labor costs
Efficiency
Job security
Customer satisfaction
Which of the following is a business application of AI mentioned in the text?
Customer service chatbots
Increased pollution
Decreased efficiency
Ignoring legal regulations
Changes to minimum wage laws directly affect:
Businesses' marketing strategies
Businesses' labor costs
Businesses' environmental impact
Businesses' technological investments
Stricter environmental regulations can force businesses to:
Ignore environmental concerns
Invest in cleaner technologies
Increase waste production
Decrease customer satisfaction
Free trade agreements can create opportunities for businesses to:
Only trade locally
Export their products to new markets
Avoid legal regulations
Decrease their marketing efforts
External influences are:
Factors within the business's control
Factors outside the business's control
Always beneficial for businesses
Only related to economic factors
