1|Page
MNGT 4800 Test 2 Questions with 100% Correct
Answers
Which of the following innovative ideas helped Airbnb develop
a successful business in the peer-to-peer rental space? -
ANSWER - Ensuring a smooth transaction between hosts and
guests
- Presenting a well-designed website
Managers have ______ direct influence over external forces in
the firm's general environment than those in the firm's task
environment. - ANSWER less
According to the PESTEL model, which of the following are kinds
of forces that exist in the general external environment? -
ANSWER ecological, technological, and economic
Which factors result from the processes and actions of
government bodies that influence the decisions and behavior of
firms? - ANSWER political
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___ pressure from groups like NGOs often results in legal
changes. - ANSWER political
Why are political pressures related to legal factors? - ANSWER
Political pressure may lead to changes in laws.
Which of the following statements about Airbnb is correct? -
ANSWER It handles more accommodations than the three
biggest hotel chains combined.
When managers understand the forces in the external
environment, they are better able to ___. - ANSWER mitigate
threats and leverage opportunities
Which of the following are employed as nonmarket strategies
to influence government bodies? - ANSWER lobbying, litigation,
and public relations
Through use of the PESTEL model, firms are able to do which of
the following? - ANSWER monitor external factors and evaluate
external trends
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The economic factors that affect a firm's external environment
are ______. - ANSWER largely macroeconomic
In the PESTEL model, political factors are those that relate to
______. - ANSWER government bodies
The overall ______ is a measure of the change in the amount of
goods and services produced by a nation's economy. - ANSWER
economic growth rate
In the early 2000s, easy credit made real estate the investment
of choice in the United States. By the end of the decade,
however, a recession had set in, impacting almost all businesses
in the country. What does this example show?
Multiple choice question. - ANSWER Economic boom periods
can overheat and lead to speculative bubbles.
In a period of economic boom, unemployment is ______, and
human resources become expensive. - ANSWER low
In order to influence changes in their political environment,
firms pursue ___. - ANSWER nonmarket strategies
, 4|Page
The amount that savers are paid for use of their money and the
amount that borrowers pay for that use is known as ______. -
ANSWER an interest rate
Which of the following are examples of economic factors in the
firm's general environment? - ANSWER price stability, interest
rates, and growth rates
Which are reasons that price stability is hard to achieve? -
ANSWER - Economic growth is dynamic.
- The central bank's actions are unpredictable.
- Measurements of gross domestic product may be incorrect.
A rise in economic growth is reflected by ______. - ANSWER
businesses expanding operations to satisfy demand
The economic recession that began in 2008 in the United States
was the result of unwise investment in ______. - ANSWER real
estate
Which term describes an increase in the overall price level?
Multiple choice question. - ANSWER inflation
MNGT 4800 Test 2 Questions with 100% Correct
Answers
Which of the following innovative ideas helped Airbnb develop
a successful business in the peer-to-peer rental space? -
ANSWER - Ensuring a smooth transaction between hosts and
guests
- Presenting a well-designed website
Managers have ______ direct influence over external forces in
the firm's general environment than those in the firm's task
environment. - ANSWER less
According to the PESTEL model, which of the following are kinds
of forces that exist in the general external environment? -
ANSWER ecological, technological, and economic
Which factors result from the processes and actions of
government bodies that influence the decisions and behavior of
firms? - ANSWER political
,2|Page
___ pressure from groups like NGOs often results in legal
changes. - ANSWER political
Why are political pressures related to legal factors? - ANSWER
Political pressure may lead to changes in laws.
Which of the following statements about Airbnb is correct? -
ANSWER It handles more accommodations than the three
biggest hotel chains combined.
When managers understand the forces in the external
environment, they are better able to ___. - ANSWER mitigate
threats and leverage opportunities
Which of the following are employed as nonmarket strategies
to influence government bodies? - ANSWER lobbying, litigation,
and public relations
Through use of the PESTEL model, firms are able to do which of
the following? - ANSWER monitor external factors and evaluate
external trends
,3|Page
The economic factors that affect a firm's external environment
are ______. - ANSWER largely macroeconomic
In the PESTEL model, political factors are those that relate to
______. - ANSWER government bodies
The overall ______ is a measure of the change in the amount of
goods and services produced by a nation's economy. - ANSWER
economic growth rate
In the early 2000s, easy credit made real estate the investment
of choice in the United States. By the end of the decade,
however, a recession had set in, impacting almost all businesses
in the country. What does this example show?
Multiple choice question. - ANSWER Economic boom periods
can overheat and lead to speculative bubbles.
In a period of economic boom, unemployment is ______, and
human resources become expensive. - ANSWER low
In order to influence changes in their political environment,
firms pursue ___. - ANSWER nonmarket strategies
, 4|Page
The amount that savers are paid for use of their money and the
amount that borrowers pay for that use is known as ______. -
ANSWER an interest rate
Which of the following are examples of economic factors in the
firm's general environment? - ANSWER price stability, interest
rates, and growth rates
Which are reasons that price stability is hard to achieve? -
ANSWER - Economic growth is dynamic.
- The central bank's actions are unpredictable.
- Measurements of gross domestic product may be incorrect.
A rise in economic growth is reflected by ______. - ANSWER
businesses expanding operations to satisfy demand
The economic recession that began in 2008 in the United States
was the result of unwise investment in ______. - ANSWER real
estate
Which term describes an increase in the overall price level?
Multiple choice question. - ANSWER inflation
