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Chapter 1 Multiple choice questions
Return to The Business Environment 4e Student Resources
Chapter 1 Multiple choice questions
*
not completed
.
In the PEST framework for environmental analysis what does the letter E stand for?
Ethical
correct
incorrect
Ecological
correct
incorrect
Educational
correct
incorrect
Economic
correct
incorrect
*
not completed
.
Analysing processes of change in the business environment involves conceptualizing it as:
Complex
correct
incorrect
Static
correct
incorrect
Dynamic
correct
incorrect
Diverse
correct
incorrect
*
not completed
.
The performance of business in the private sector is conventionally measured in terms of:
The salaries of members of Boards of Directors
correct
incorrect
Profitability
correct
incorrect
Number of employees
correct
incorrect
Customer satisfaction
correct
incorrect
*
not completed
.
What key word can be used to describe the basic economic problem that all societies face?
Selfishness
correct
incorrect
Greed
correct
incorrect
Inequality
correct
incorrect
Scarcity
correct
incorrect
*
not completed
.
In which year was the National Minimum Wage (NMW) introduced in the UK?
1997
correct
incorrect
1999
correct
incorrect
2001
correct
incorrect
2005
correct
incorrect
*
not completed
.
What is a PLC?
Public licensed company
correct
incorrect
Private licensed company
correct
incorrect
Private limited company
correct
incorrect
Public limited company
correct
incorrect
*
not completed
.
What does the term 'third sector' refer to?
The high technology industries
correct
incorrect
The service sector
correct
incorrect
The voluntary sector
correct
incorrect
Small and medium-sized enterprises (SMEs)
correct
incorrect
*
not completed
.
The idea that consumers are in charge of the economic system because their preferences drive business decisions about what to produce is referred to as:
Consumer activism
correct
incorrect
Consumer sovereignty
correct
incorrect
Consumerism
correct
incorrect
Consumer therapy
correct
incorrect
*
not completed
.
A multinational corporation (MNC) is defined by:
Carrying out production in more than one country
correct
incorrect
Having sales in more than one country
correct
incorrect
Having a multi-ethnic workforce
correct
incorrect
Having suppliers in more than one country
correct
incorrect
*
not completed
.
In SWOT analysis the 'O' stands for:
Obstacles
correct
incorrect
Opportunities
correct
incorrect
Openings
correct
incorrect
Objections
correct
incorrect
*
not completed
.
The 'I' in BRIC stands for:
Indonesia
correct
incorrect
Ireland
correct
incorrect
India
correct
incorrect
Iceland
correct
incorrect
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