Other External Influences On Business

5 Questions | Total Attempts: 194

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Other External Influences On Business - Quiz

A few questions about the fifth chapter from the IGCSE Business Studies book: Other External Influences on Business


Questions and Answers
  • 1. 
    What is an advantage of technological change? 
    • A. 

      Workers will require training

    • B. 

      New products encourage consumers to buy

    • C. 

      Expensive to buy and introduce with no certainty it will succeed

    • D. 

      Customers still prefer personal contact

  • 2. 
    What is a constraint?
    • A. 

      The underlying movement or direction of data over time

    • B. 

      Payment for work, usually paid weekly

    • C. 

      Something that limits or controls its actions or decisions on a business

    • D. 

      The cost of producing one item

  • 3. 
    Define cost-benefit analysis
    • A. 

      The financial gains made by a business as a result of a business decision

    • B. 

      The provision of a product or a service to satisfy consumer wants and needs

    • C. 

      The income to a business during a period of time from the sale of goods or services

    • D. 

      The valuation by a government agency of all external and private costs and benefits resulting from a business decision

  • 4. 
    What is a pressure group? 
    • A. 

      Policies, strategies or measures taken to promote a good image for a company and/or its products

    • B. 

      People selected at random as a source of information for market research

    • C. 

      Formed by people who share a common interest and who will take action to try to change government policy or business decisions

    • D. 

      A specific group of customers or potential customers

  • 5. 
    Why might a firm not respond to pressure group activity? 
    • A. 

      Well organized and funded

    • B. 

      The cost to the business of changing its methods is more than the possible cost of poor image and lost sales

    • C. 

      They have public support and in the media

    • D. 

      Consumer boycotts cause reduced sales

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