The 3 Types of Business Environments

Question 1

Name the 3 types of business environments.

Answer 1

Micro (Inner), Market (Middle), Macro (Outer)

Question 2

Name 7 things that affect the MICRO environment in a business.

Answer 2

1. Political factors
2. Economic factors
3. Ethical issues
4. Socio-economic factors
5. Technology
6. Legal factors
7. Physical environment

Question 3

Name 5 things that affect the MARKET environment in a business.

Answer 3

1. Competitors
2. New competitors
3. Substitute goods
4. Suppliers
5. Consumers

Question 4

Name the 8 functions in a business (Macro).

Answer 4

1. Purchasing function
2. Production function
3. Financial function
4. Human Capital function
5. Marketing function
6. Public Relations function
7. Administration function
8. General Management function