chapter 1 lists

Question 1

name the five factors of production?

Answer 1

land
labour
capital
entrepreneurship
knowlage

Question 2

name the five factors of the economic environment?

Answer 2

rates of saving and investment
tradable currency (money supply)
taxes and regulations
imports and exports
employment levels and productivity

Question 3

name the six things that make up the technological environment?

Answer 3

information and technology
databases
QR codes
internet
wireless communication
social media marketing

Question 4

name four competitive strategies?

Answer 4

exceed customer expectations
deliver faster
restructuring and empowerment
concern for environment

Question 5

name seven factors in a social environment?

Answer 5

diversity
demographic changes
family composition and life expectancy
consumption habits
attitudes towards product innovations and consumer preferences

educational system and literacy rates
values, traditions, social trends

Question 6

name four factors in the global environment?

Answer 6

international events
serving global markets
global trade competition
rapid change

Question 7

what are the 10 kinds of stake holders in business?

Answer 7

shareholders
bankers
customers
surrounding community
environmentalists
retailers
employees
government leaders
suppliers
media

Question 8

what are the 5 elements of the business environment?

Answer 8

legal environment
social environment
economic environment
competitive environment
technological environment