10 Questions
How does a decline in birth rates affect the demand for goods and services?
Demand will decrease as the total consumers fall
What is the consequence of a business refusing to adapt to changing social preferences?
Its sales will decline, and the business will fail
How does a society valuing higher education impact the workforce?
It provides a better workforce that leads to more productivity and innovation
What is the influence of a community valuing hard work ethics on businesses?
Businesses will have access to productive workers
How does a society's attitude toward investment in infrastructure impact transportation and communication systems?
It provides access to good transportation and communication systems
Which social factor has the potential to lead to greater competition and a decrease in demand for goods and services?
Population growth rate
What impact does a society valuing hard work ethics have on businesses?
It provides access to productive workers
How does social preference relating to fashion or fad impact businesses?
It results in a decline in sales
What is the consequence of a society supporting investment in infrastructure?
It provides access to good transportation and communication systems
How does people's attitude towards healthy diet impact businesses like fitness centers?
It leads to changes in the supply and demand of goods and services
Test your knowledge about the social factors that impact businesses, including population growth rate and changes in social preferences. Understand how these factors influence supply and demand, competition, and the need for business adaptation.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
