QUESTION Since the bland 1970s days of meatloaf, mashed potatoes, and canned peas, Americans’ culinary tastes have expanded to include such foods as chipotle, sushi, and guacamole. Businesses have responded in kind to benefit from these forces. What kinds of forces are most in play here? A) economic B) technological C) competitive D) global E) […]
QUESTION Which force within the business environment likely produces impacts on the broadest or most systemic level? A) economic B) technological C) competitive D) global E) social ANSWER Answer: D Explanation: D) Global forces can affect the business environment for entire countries or regions.
QUESTION Which of the following is NOT an example of global forces in the business environment? A) immigration policy B) flu pandemics C) trade agreements D) climate change E) cloud computing ANSWER Answer: E Explanation: E) The ability to manipulate and store computer data “in the cloud” is a technological force.
QUESTION Which of the following is the BEST example of a business generating wealth from an apparent negative force within the business environment? A) a pet shop owner buys out his local competitor B) a whistleblower reports corruption in a financial firm C) a firm identifies security breaches in computer systems D) a grocery adds […]
QUESTION Experts say that the first law of business is to take care of what group? A) shareholders B) customers C) employees D) suppliers E) government regulators ANSWER Answer: B Explanation: B) This is a good rule, because customers pay to use an organization’s goods or services.
QUESTION Which force is most likely to limit the ability of a business to generate wealth? A) competitive B) technological C) global D) economic E) social ANSWER Answer: D Explanation: D) While all forces within the business arena can impact wealth generation, economic forces such as government regulation can most directly limit this capacity.
QUESTION What are people who can claim an organization as their legal property called? A) managers B) owners C) stakeholders D) executors E) directors ANSWER Answer: B Explanation: B) Owners of a business have legal property rights to it. One class of owners is shareholders.
QUESTION What is the term for the relationship between business input and output? A) allocation B) capacity C) yield D) productivity E) profit ANSWER Answer: D Explanation: D) Productivity is defined as the amount of output given the amount of input.
QUESTION Parties whose interests are influenced by the activities of an organization are known most fundamentally as what? A) interest groups B) markets C) stakeholders D) suppliers E) consumers ANSWER Answer: C Explanation: C) Stakeholder groups, including shareholders, management, and employees, are impacted by a particular organization’s activities.
QUESTION Cities and states constantly offer tax incentives to entice businesses to relocate or build facilities in their region. What forces are working here to influence the business environment? A) economic B) technological C) competitive D) global E) social ANSWER Answer: A Explanation: A) Business tax rates are economic forces because they impact potential […]
