The Business Environment Quiz
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Questions and Answers

What is the term used to refer to the sum total of all individuals, institutions, and other forces that lie outside a business enterprise but may influence its functioning and performance directly or indirectly?

Business Environment

How is a business enterprise related to its environment?

It continuously interacts with its environment

What are some examples of groups that influence the working of a business?

Customers, Suppliers, Competitors, Banks and Other Financial Institutions, Government Agencies, Media

What are the inputs that a business enterprise takes from its environment?

<p>Raw material, capital, labour, etc.</p> Signup and view all the answers

What does the term 'business environment' encompass?

<p>All the forces, institutions, and other factors</p> Signup and view all the answers

What is the term used to describe the various groups that influence the working of a business?

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

What does the term 'business environment' encompass?

<p>The external forces that influence a business</p> Signup and view all the answers

How does a business enterprise interact with its environment?

<p>By taking inputs from the environment and transforming them into goods and services</p> Signup and view all the answers

What is the feature of business environment?

<p>The totality of external forces</p> Signup and view all the answers

What is a business enterprise considered as?

<p>An open system</p> Signup and view all the answers

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