What Is the Economic Environment in Business? - Definition, Importance & Factors

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following is the best explanation of the economic environment of business?

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1. What's the best explanation of an external constraint?

2. What two broad categories can you break the business environment into?

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About This Quiz & Worksheet

Use this worksheet/quiz combo to check your knowledge of the economic environment and what it consists of. In order to pass the quiz, you will need to know parts of the economic environment.

Quiz & Worksheet Goals

Using this quiz and worksheet, you can review:

  • Parts of the external business environment
  • Categories you can break the business environment into
  • Definition of external constraint
  • Economic environments for businesses

Skills Practiced

Students can use this quiz and worksheet to test the following skills:

  • Knowledge application - use your knowledge to answer questions about what an external constraint is
  • Information recall - access the knowledge you have gained regarding different parts of the external business environment
  • Critical thinking - apply relevant concepts to examine information about business environments in a different light

Additional Learning

If you would like to learn more about the economic environment of businesses, review the accompanying lesson on What Is the Economic Environment in Business? - Definition, Importance & Factors. This lesson covers the following objectives:

  • Determine how the economic environment can be divided
  • Understand what microeconomic factors influence
  • Learn why the economic environment is important for businesses
  • Examine the influences of macroeconomic factors
Final Exam
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