Keywords

Question 1

The input in the form of human, physical, financial and other related
resources are drawn from the environment.

Answer 1

Input

Question 2

Includes a person’s attitude, perceptions about a situation,
their ability to understand information, what motivates them, their personality and
beliefs.

Answer 2

Psychological Factors

Question 3

Personal characteristics such as age, gender, financial situation,
occupation, background, culture and location.

Answer 3

Personal Factors

Question 4

Influences like friends, family, community, school/workplace, or
associations like churches or hobby groups.

Answer 4

Social Factors

Question 5

A systematic process that studies and evaluates all
internal and external business factors.

Answer 5

Environmental Scanning

Question 6

Exchange with environment brings in surplus or goodwill needed for
business survival.

Answer 6

Output

Question 7

– A series of assumptions about how people choose to spend
their money.

Answer 7

Consumer Behavior

Question 8

The business transforms inputs into outputs by
processing them.

Answer 8

Throughput/Processing

Question 9

e.g., Competitors, Technology,
Political Environment, Economic Conditions

Answer 9

Example of Environmental Scanning Factor

Question 10

Weighs social and economic costs versus benefits including
effects on society, health, and employment.

Answer 10

Impact Assessment