Multiple Choice
Identify the
letter of the choice that best completes the statement or answers the question.
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1.
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Factors which affect every firm in a given industry are called: a. | The micro
environment | c. | The industrial
environment | b. | The macro environment | | | | |
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2.
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Which
of the following is NOT one of the factors in the internal environment? a. | Employees. | c. | Corporate
culture. | b. | Customers. | | | | |
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3.
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Which
of the following is NOT a factor in the macro environment? a. | Competitors | c. | The
economy | b. | Government | | | | |
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4.
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What
is a recession? a. | A period in
which the company’s sales fall. | c. | A period of three months in which national output
falls. | b. | A period in which unemployment rises. | | | | |
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5.
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What
does WTO stand for? a. | World Trade Organisation. | c. | Weak Trading Overview | b. | Wholesale
Turnover | | | | |
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6.
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What
is demography? a. | The study of
price controls. | c. | The study of
communications. | b. | The study of the structure of the
population. | | | | |
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7.
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Which
of the following is NOT part of culture? a. | Shared beliefs. | c. | Language. | b. | Econonic
conditions. | | | | |
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8.
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Law
which is created by judges is called: a. | Case law. | c. | By-laws. | b. | Legislation. | | | | |
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9.
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What
does Oftel do? a. | Regulates the
office rental industry. | c. | Regulates the
broadcasting industry. | b. | Regulates the communications
industry. | | | | |
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10.
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What
does ASA stand for? a. | Alternative Services
Association. | c. | Advertising
Standards Authority. | b. | Available Supervisory Area. | | | | |
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11.
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Which
of the following is NOT one of Porter’s five forces? a. | The bargaining
power of customers. | c. | The bargaining
power of competitors. | b. | The bargaining power of suppliers. | | | | |
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12.
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What
is vertical integration? a. | The degree to which the supply chain is owned or controlled by
a few firms. | c. | The degree to
which firms at the same level are integrated. | b. | The degree to
which it would be expensive to switch suppliers. | | | | |
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13.
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A
situation in which production is only worthwhile on a large scale is said to have: a. | Large economies
of scale. | c. | Large
manufacturing capacity. | b. | Large economies of scope. | | | | |
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14.
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Friendships between employees are part of: a. | The formal
structure. | c. | The corporate
culture. | b. | The informal structure. | | | | |
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15.
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Making products which are unlike competing products is called: a. | Competitive
advantage. | c. | Product
differentiation. | b. | Product orientation. | | | | |
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