The Interrelationship Between Micro and Market Environments (Grade 10 NSC Matric Business Studies): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What term describes the internal business environment?
What term describes the internal business environment?
Micro environment
How do businesses and consumers depend on each other?
How do businesses and consumers depend on each other?
Consumers buy; businesses earn income
What is a customer base?
What is a customer base?
Group of customers a business serves
What is market research?
What is market research?
Gathering info about customer needs
What are raw materials?
What are raw materials?
Materials that have not been processed
What benefit do long-term contracts with suppliers provide?
What benefit do long-term contracts with suppliers provide?
Secure materials at fixed prices
What are intermediaries?
What are intermediaries?
Businesses that distribute & sell goods
Which of these is an example of an intermediary?
Which of these is an example of an intermediary?
Retailers
What typically happens when competition increases?
What typically happens when competition increases?
Prices decrease
What are alliances in business?
What are alliances in business?
Joint ventures between 2+ businesses