Environments Of Business Quiz!

16 Questions | By Golddude1000 | Last updated: Mar 21, 2022 | Total Attempts: 352

Questions

Settings

Create your own Quiz

Chapter 2 - Business 1110 Kwantlen University

Questions and Answers

1.

Organizational boundaries is governed by the external environment (everything outside an organization's boundaries that might affect it) and the internal environment of that organization such as administration, industry and technological environment.
- A.
  
  True
- B.
  
  False
2.

The conditions of the economic system in which an organization operates is:
3.

The pattern of short-term ups and downs (expansion and contractions) in an economy is called:
4.

Total value of all goods and services produced within a given period by a national economy through domestic factors of production is called: ********* important to remember ******
- A.
  
  Aggregrate output
- B.
  
  Standard of living
- C.
  
  Gross domestic product (GDP)
- D.
  
  Revenue
5.

Standard if living is the total quantity and quality of goods and services that a country's citizen can purchase with the currency used in their economic system.
- A.
  
  True
- B.
  
  False
6.

Total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located.
- A.
  
  GDP (gross domestic product)
- B.
  
  GNP (Gross national product)
- C.
  
  Purchasing power
- D.
  
  Standard of living
7.

The measure of economic growth that compares how much a system produces with the resources needed to produce it:
- A.
  
  Balance of trade
- B.
  
  Productivity
- C.
  
  Inflation
8.

The total amount of money that a country owes its creditors is:
- A.
  
  Budget deficit
- B.
  
  Mortgage
- C.
  
  Credit balance
- D.
  
  National debt
9.

When the government spending more in one year then it takes in during that year, it will result:
- A.
  
  Budget deficit
- B.
  
  Budget surplus
- C.
  
  Increased standard of living
10.

A condition in an economic system in which the amount of money available and the number of goods and services produced are growing at about the same rate is:
- A.
  
  Inflation
- B.
  
  Economic stability
- C.
  
  Deflation
- D.
  
  Recession
11.

Inflation is when there is an occurance of widespread price increases throuhout an economic system.
- A.
  
  True
- B.
  
  False
12.

The measure of the prices of typical products purchased by consumers living in urban areas is called:
- A.
  
  Consumer price index (CPI)
- B.
  
  Gross domestic product (GDP)
- C.
  
  Gross national product (GNP)
13.

Policies, whereby governments collect and spend revenues, is called:
- A.
  
  Monetary policies
- B.
  
  Fiscal policies
14.

Policies whereby the government control (manipulates ) the size of the nation's money supply by means such as changing the interest rates is called:
- A.
  
  Fiscal policies
- B.
  
  Monetary policies
15.

The strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or services is called:
- A.
  
  Outsourcing
- B.
  
  Integration
- C.
  
  Distribution
- D.
  
  R & D
16.

Viral marketing is strategy of using the internet and word-of-mouth marketing to spread product information
- A.
  
  True
- B.
  
  False