External Factors of a Business: Definition & Explanation


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What does the acronym PEST stand for?

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1. The increase of streaming TV and movies online is an example of:

2. When an environmental disaster, like an oil spill, starts a dialog among Congress and the President about changes to regulation, which type of force is at work?

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About This Quiz & Worksheet

This quiz and worksheet will ask you multiple-choice questions about the different types of external forces in the business world. You'll need to identify real-world examples of each force.

Quiz & Worksheet Goals

Use this quiz and worksheet to review:

  • PEST acronym
  • Types of force at work in various real-world scenarios
  • An example of an economic force

Skills Practiced

  • Interpreting information - verify that you can read information regarding external factors at work and interpret it correctly
  • Knowledge application - use acquired knowledge to identify the force illustrated in a given example
  • Defining key concepts - ensure that you can accurately define main phrases, such as economic force and PEST

Additional Learning

To learn more about external factors at work, review the corresponding lesson called External Factors of a Business: Definition & Explanation. This lesson covers the following objectives:

  • Learn what a monopoly is
  • Examine economic forces
  • Compare and contrast different types of forces
  • Determine what PEST stands for