Chapter 1 Multiple choice questions

. 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

. Analysing processes of change in the business environment involves conceptualizing it as:

Complex correct incorrect

Static correct incorrect

Dynamic correct incorrect

Diverse correct incorrect

. 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

. 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

. 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

. What is a PLC?

Public licensed company correct incorrect

Private licensed company correct incorrect

Private limited company correct incorrect

Public limited company correct incorrect

. 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

. 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

. 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

. In SWOT analysis the 'O' stands for:

Obstacles correct incorrect

Opportunities correct incorrect

Openings correct incorrect

Objections correct incorrect

. The 'I' in BRIC stands for:

Indonesia correct incorrect

Ireland correct incorrect

India correct incorrect

Iceland correct incorrect