Business Organizations and Economic Concepts Quiz

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Questions and Answers

Which term refers to the willingness and ability of buyers to purchase a product?

  • Profits
  • Supply
  • External Environment
  • Demand (correct)

What is the difference between a business's revenues and its expenses called?

  • Supply
  • External Environment
  • Demand
  • Profits (correct)

What is everything outside an organization's boundaries that might affect it called?

  • Demand
  • Supply
  • Profits
  • External Environment (correct)

Which dimension of the External Environment encompasses the international forces that might affect a business?

<p>The Global Business Environment (C)</p> Signup and view all the answers

Which environment is defined as the relationship between business and government?

<p>The Political-Legal Environment (C)</p> Signup and view all the answers

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