CH 1: Business Sectors and Their Environments

What sector involves the extraction and harvesting of natural products?

Which sector provides services instead of goods?

In which sector can businesses optimize production processes?

Which sector has limited control and is dependent on nature?

In which sector can services be tailored to meet customer needs?

Which sector involves transforming raw materials into products?

Which sector deals with socio-economic and technological environments?

Which sector faces challenges like weather variations and natural disasters?

Which sector provides healthcare services?

What is a business example for the Secondary Sector?

Which type of integration involves a winery opening its own retail outlet?

What does Horizontal Diversification involve?

Which strategy involves a business reducing its size or scope to become more financially stable?

What is the aim of the National Credit Act (NCA)?

In which diversification strategy does a bakery start offering catering services?

What is the purpose of the Employment Equity Act (EEA)?

Which Act dictates marketing, service, and contractual standards in business-consumer interactions?

'Moving into entirely new lines of business' is associated with which diversification strategy?

What is required from businesses regarding the Employment Equity Act (EEA)?

What does Market Development entail for businesses?

Which type of integration strategy involves a car manufacturer acquiring a steel plant?

What is the primary purpose of the Broad-Based Black Economic Empowerment (BBBEE) Act?

Which diversification strategy involves a business adding new, unrelated products or services aimed at its current customers?

What is the main implication of the Consumer Protection Act (CPA) for businesses?

Which type of integration strategy involves a primary sector business like a winery opening its own retail outlet?

What is the primary purpose of the National Credit Act (NCA)?

Which diversification strategy involves a business adding related products or services, such as a bakery starting to offer catering services?

What is the main implication of the Employment Equity Act (EEA) for employers?

Which intensive strategy involves a business expanding into new markets, such as a manufacturer exporting goods to new countries?

Which defensive strategy involves a business reducing its size or scope to become more financially stable?

Which sector is most directly impacted by changes in the natural environment?

A business that manufactures automobiles would be classified under which sector?

Which of the following statements is true regarding environmental control across the three sectors?

Which sector would a business that provides consulting services be classified under?

Which of the following statements best describes the challenges faced by businesses across the three sectors?

A business that operates a chain of retail stores would be classified under which sector?

Which sector would a business that extracts and processes crude oil be classified under?

Which of the following statements best describes the Secondary Sector?

A business that operates a hospital would be classified under which sector?

Which sector has the highest level of control over its environment?

Which sector has the lowest level of environmental control, being highly dependent on natural factors?

A business that manufactures furniture would be classified under which sector?

Which sector faces the greatest challenges in adapting to socio-economic and technological changes?

A business that operates a chain of retail stores would be classified under which sector?

Which sector has the highest level of control over its environment, allowing it to tailor services to customer needs?

Which sector would a business that extracts and processes crude oil be classified under?

A business that operates a hospital would be classified under which sector?

Which sector faces the greatest challenges in optimizing production processes?

Which sector would a business that provides consulting services be classified under?

Which sector faces the greatest challenges in adapting to changes in economic conditions?

What distinguishes forward vertical integration from backward vertical integration?

In the context of intensive strategies, what sets market development apart from market penetration?

How does horizontal diversification differ from conglomerate diversification?

What is a key implication for businesses under the Employment Equity Act (EEA)?

How does the Broad-Based Black Economic Empowerment (BBBEE) Act impact businesses differently from the National Credit Act (NCA)?

What fundamental aspect of business operations is directly influenced by the Consumer Protection Act (CPA)?

How does retrenchment as a defensive strategy differ from liquidation?

In the context of diversification strategies, what separates concentric diversification from horizontal diversification?

'Nature and Purpose' are key attributes of which business legislation?

'Aims to regulate the credit industry and ensure responsible lending' pertains to which business legislation?