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 […]
QUESTION Which of the following is both a factor of production and a stakeholder? A) capital B) human resources C) customers D) owners E) natural resources ANSWER Answer: B Explanation: B) Employees are both a factor of production and a stakeholder group.
QUESTION Deploying technology usually has the most direct impact on what business factor? A) knowledge B) productivity C) costs D) competition E) customers ANSWER Answer: B Explanation: B) The purpose of installing a technology is typically to improve a company’s productivity.
QUESTION Chet runs a woodworking company in a small Midwest town. Many of the original residents’ children move away for college, while the low cost of living attracts many Hispanic families. Which factor of production will likely change in response to the social forces affecting Chet’s business? A) natural resources B) capital C) human resources […]
QUESTION Which of the following likely had the LEAST role in the recent growth of U.S. businesses outsourcing work to other countries? A) state and federal business regulations B) expansion of computer technology C) pursuit of competitive advantage D) foreign country policies on wages E) increased literacy rates in foreign countries ANSWER Answer: A […]
QUESTION The U.S. Postal Service posted a $5.1 billion loss in the 2011 fiscal year. Analysts attribute much of the system’s financial problems to a marked decline in the volume of mail, since more people are using email. What business force is at play in this example? A) economic B) technological C) demographic D) global […]
QUESTION In the early 2010s, the struggles of European policymakers to address high amounts of government debt incurred by some eurozone countries impacted stock markets in the United States. What type of force impacted the U.S. business environment? A) historical B) technological C) competitive D) global E) social ANSWER Answer: D Explanation: D) The […]
QUESTION Pria was upset when she heard that another nail salon was opening down the street from hers. She recently took out a loan to upgrade the salon’s furniture and lighting. Pria is responding to what kinds of forces in the business environment? A) social B) global C) competitive D) technological E) economic ANSWER […]
QUESTION Hector is at a regional conference with fellow realtors. At the break, he waits in line to check his email on the hotel computers, while the other realtors quickly scan their smartphones and continue networking. Which business force is negatively impacting Hector’s business? A) economic B) technological C) competitive D) global E) social […]
