Understanding External Influences on Business GCSE Business Quiz
Test your knowledge of Understanding External Influences on Business with this quiz.
This quiz consists of 15 questions, including multiple-choice and short-answer questions.
For multiple-choice questions, choose the correct answer.
Questions
Who are business stakeholders?
Incorrect
Correct
Incorrect
Incorrect
Which of the following is a key objective of employees as a stakeholder?
Incorrect
Incorrect
Correct
Incorrect
What is an objective of customers as stakeholders in a business?
To ensure that products are of good quality and sold at a fair price.
How might shareholders' objectives differ from those of employees?
Shareholders typically seek to maximise the return on their investment (profits), while employees are focused on receiving fair wages and job security.
What type of technology is often used by businesses to manage customer data?
Incorrect
Incorrect
Correct
Incorrect
How can technology improve a business's efficiency?
Correct
Incorrect
Incorrect
Incorrect
What is the purpose of legislation in business?
To ensure businesses operate in a way that is fair, safe, and ethical.
How can changes in legislation impact businesses?
Incorrect
Incorrect
Incorrect
Correct
What is an example of legislation that businesses must comply with?
Incorrect
Incorrect
Correct
Incorrect
How can the economic climate impact a business?
A poor economic climate can lead to lower consumer spending and higher operating costs.
What is one effect of inflation on a business?
Inflation can increase the cost of raw materials and production, leading to higher prices for consumers and potentially reduced sales.
What is the importance of external influences on a business?
External influences, such as changes in legislation, economic conditions, and technological advances, can significantly impact how a business operates and makes decisions.
How can a business respond to changes in the economic climate?
Correct
Incorrect
Incorrect
Incorrect
What might a business do to adapt to technological advances?
A business might invest in new software, update equipment, or train staff to use new technologies to improve productivity and meet customer needs.
How does the government’s taxation policy affect businesses?
Tax rates can affect a business's profitability, the amount of disposable income available for customers, and the cost of operating a business.
Category
