1. _________ consist of economic conditions, economic policies, industrial policies and economic system.
(A) Business environment.
(B) Economic environment.
(C) Natural environment.
(D) None of the above.
Answer:
ECONOMIC ENVIRONMENT.
2. An analysis of the external environment enables a firm to identify
(A) Strengths and opportunities.
(B) Strength and weakness.
(C) Weakness and threats.
(D) Opportunities and threats.
Answer:
OPPORTUNITIES AND THREATS.
3. These are forces in the company's immediate environment that affect the performance of the company.
(A) Macro environment.
(B) Micro environment.
(C) Technological environment.
(D) Natural environment.
Answer:
MICRO ENVIRONMENT.
4. In this type of economic system, the Government intervention will be absent.
(A) Free enterprise economy.
(B) Socialist economy.
(C) Mixed economy.
(D) None of the above.
Answer:
FREE ENTERPRISE ECONOMY.
5. __________ is an economic system where the means of production are owned and managed by the State.
(A) Capitalism.
(B) Socialism.
(C) Mixed economy.
(D) Common economy.
Answer:
SOCIALISM.
6. _________ is concerned with the obligation and duties of business to the society.
(A) Social responsibility.
(B) Status.
(C) Authority.
(D) None of the above.
Answer:
SOCIAL RESPONSIBILITY.
7. Which one of the following cannot be included under the nature of relationship between business and environment?
(A) Interdependence
(B) Dynamic
(C) Social change.
(D) Fixed.
Answer:
FIXED
8. External environment of business is __________.
(A) Physical.
(B) Demographical.
(C) Economic.
(D) All of these.
Answer:
ALL OF THESE.
9. The economic environment of a business includes
(A) Economic system.
(B) Economic policies.
(C) Economic conditions.
(D) All of these.
Answer:
ALL OF THESE.
10. Which of the following is not an essential feature of social environment.
(A) Competitiveness.
(B) Respect for the individual.
(C) Better quality of life.
(D) Bailment.
Answer:
BAILMENT.