Define macro factors.

factors impacting businesses & are outside business control

Factors of the macro environment are ...

Political, Legal, Social, Economic and Technological

Macro factors affecting a business are:

The external factors that a business has no control over

Which of the following is NOT a likely effect of rising interest rates on business?

Greater opportunity to expand operations of the business

Offshoring labour means ...

doing the work in another country

When interest rates are relatively low, businesses ...

are more likely to borrow money

Lowering interest rates would...?

Increase business & consumer spending & lower loan costs

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Year 11 Business Management: Macro Environment Factors

31 termsStudBud Administration148 plays

Chapter 4

Flashcards31 cardsFPractice quizPHost liveL

Questions 31

Answers

1
What is the current interest rate as of the 5th of April 2017?
1.5%
2.5%
2.0%
3.0%
2
In the macro environment it's important that a business ensures it's up-to-date with technology
true
false
not sure
3
When consumer confidence is low people are ...
happy
no change in spending
less likely to spend money
more likely to spend money
4
The ageing population is an example of which factor?
social
technological
political
economic
5
Define macro factors.
outside factors controlled by businesses
factors impacting businesses & are outside business control
factors influencing business decisions
a probiotic dairy product mixed with the shirota strain
6
Factors of the macro environment are ...
Government, Hourly Rate and Tax Charges
Customers, Suppliers, Competitiors and Interest Groups
Business Structure, Policies, Processes, Planning and Staff
Political, Legal, Social, Economic and Technological
7
Interest rates and business confidence are part of:
Societal Attitudes
Global Issues
Economic Conditions
Legal Regulations
8
What are the three enviroments in which a business operates?
external, operating and macro
macro, operating and internal
technological, social, and economic
social, economic and legal
9
Macro factors affecting a business are:
Competition, substitute products, suppliers.
The local environment a business operates in
The external factors that a business has no control over
Internal factors of the business
10
Which is NOT a factor within the macro environment?
business structure
economic
technology
political and legal
11
Why may a company want to move production overseas?
Exploit economic strengths
Lower costs
Support struggling economies
Improve working conditions
12
Which of these is NOT a government or legal factor impacting on business planning?
Occupational Health and Safety
Licences and permits
Environmental Protection Act
Interest Rates
13
What products make up most of Australian exports?
Minerals
Tourism
English Language Teaching
Agriculture
14
Occupational Health and Safety is an example of which factor?
Technological
Political
Social
Legal
15
Business confidence is influenced by ...
consumer confidence
economic activity
all of the above
the share market
16
Increasing inflation (price rising) is a factor of:
Legal/government regulations
Societal Attitudes
Corporate Social Responsibility
The Economy
17
Which of the following is a feature of a recession?
Unemployment Rising
Sales and Profits High
Wages and salaries increasing
Inflation may increase
18
Which of these is not a global issue?
Offshore Labour
Overseas Competition
Online Sales
Occupational Health and Safety
19
Employment levels is an example of which factor?
Economic
Personnel
Social
Political
20
Which of the following is NOT a likely effect of rising interest rates on business?
Decreased profitability due to higher loan repayments
Less opportunity to expand due to greater cost of borrowing
Greater opportunity to expand operations of the business
Less sales - consumers having lower disposable incomes
21
How much control does an organisation have over macro environment factors?
full
top
none
little
22
Which of the following is a macro factor affecting business planning?
Customers
Government policy
Suppliers
Special interest groups
23
Music released worldwide would be protected under...?
Patent
Copywrong
Copyright
Trademark
24
Offshoring labour means ...
the same as outsourcing
contracting work to a third party
expanding the business overseas
doing the work in another country
25
When interest rates are relatively low, businesses ...
will find it difficult to repay loans
are less likely to expand
are more likely to borrow money
are less likely to borrow money
26
Lowering interest rates would...?
Make it difficult to access money from banks
Increase business & consumer spending & raise loan costs
Decrease consumer confidence
Increase business & consumer spending & lower loan costs
27
What is the most likely impact of a recession on consumer confidence?
increase
dramatic change
no change
decrease
28
One of the effects of aging population isn't:
more people on pension
change in the structure of population
increase in number of births
changing patterns of demand
29
Which of the following is not an example of technology affecting a company?
Self serve checkouts
Internet
Social Media
Occupational Health and Safety
30
The exchange rate is ...
important for exporting businesses
all of the above
important for importing businesses
determined by the supply and demand for currency
31
Laws, governing regulations, consumer protection, and taxation are what factors?
economic
legal/government
societal
technology

Year 11 Business Management: Macro Environment Factors Flashcards | StudBud