Business Environment Factors Quiz
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Questions and Answers

People who buy the goods or services provided by a business are called suppliers.

False

Changes in social factors do not affect the way people live, working, or even the way they consume goods and services.

False

Currency rates, unemployment, and inflation are part of the political and legal environment.

False

Organizational culture are the customs, traditions, and beliefs which affect the business externally.

<p>False</p> Signup and view all the answers

Businesses that provide similar goods or services to the same customers as the given market are called competitors.

<p>True</p> Signup and view all the answers

An external environment is a set of elements that define the atmosphere within the company's structure.

<p>False</p> Signup and view all the answers

External factors are the things that affect the business from the inside.

<p>False</p> Signup and view all the answers

Employees are a factor that influences business performance negatively only.

<p>False</p> Signup and view all the answers

The environment is also known as the Competitive Environment.

<p>False</p> Signup and view all the answers

People who buy the goods or services provided by a business are called suppliers.

<p>False</p> Signup and view all the answers

Businesses that provide similar goods or services to the same customers as the given market are called competitors.

<p>True</p> Signup and view all the answers

Organizational culture are the customs, traditions, and beliefs which affect the business externally.

<p>False</p> Signup and view all the answers

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