1) What is an advantage of technological change? a) Workers will require training b) Expensive to buy and introduce with no certainty it will succeed c) Customers still prefer personal contact d) Small businesses can’t compete e) New products encourage consumers to buy 2) What is a constraint? a) The underlying movement or direction of data over time b) Payment for work usually paid weekly c) Something that limits or controls its actions or decisions on a business d) The cost of producing one item e) Pressure groups 3) Define cost-benefit analysis a) The financial gains made by a business as a result of a business decision b) The provision of a product or a service to satisfy consumer wants and needs c) The valuation by a government agency of all external and private costs and benefits resulting from a business decision d) The income to a business during a period of time from the sale of goods or services e) The profit gained from selling a product 4) What is a pressure group? a) Formed by people who share a common interest and who will take action to try to change government policy or business decisions b) A specific group of customers or potential customers c) A business competes with other business d) People selected at random as a source of information for market research e) Policies, strategies, or measures taken to promote a good image for a company and/or its products 5) Why might a firm not respond to pressure group activity? a) Well organized and funded b) The cost to the business of changing its methods is more than the possible cost of poor image and lost sales c) Consumer protest cause reduced sales d) They have public support and, in the media e) Consumer boycotts cause reduced sales 6) Following are the power pressure groups have, EXCEPT a) consumer boycotts b) Blocking waste pipes c) Closing down the business d) Harming a business’ image e) Protest 7) the increased worldwide competition and business activity is the definition of a) Constraints b) Competition c) Monopoly d) Licensing e) Globalization 8) One of the advantages of globalization is a) Local businesses may suffer. b) Increase of marketing cost c) Increase of marketing distribution. d) Increase of competition e) Businesses can access more markets.

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