Practice Macro Environment (1.5.2) - Business Environment

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9 questions

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Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What is the macro environment?
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Think about factors outside the company's direct control.
Question 2.
Name one component of the macro environment.
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Remember the PESTEL acronym.
3Question 3.
What does PESTEL stand for?
- Political, Economic, Social, Technological, Environmental, Legal
- People, Events, Social, Technology, Environment, Law
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Remember it as a framework for analysis.
4Question 4.
Are socio-cultural factors important for business?
- True
- False
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Think about changing trends.
Question 5.
Evaluate how an increase in interest rates could affect a retail business's pricing strategy.
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Consider the flow of consumer credit.
Question 6.
Discuss the potential advantages and disadvantages of operating in a highly regulated industry.
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Think about regulatory impacts on creativity.

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