If business damages environment, which of the following could take action to harm the firms’ reputation and sales?
Pressure groups
Court
Political parties
Which of the following is NOT a disadvantage of new technology?
New machines are expensive
Research and development expensive
Staff retraining expensive
Make new products more competitive
Which one of the following given below is NOT an external constraint of business?
Technological change: New products
Environmental issues
Technological change: New production processes
Employees problems
Something that limits or controls the actions or decisions of a business.
Cost
Benefit
Constraint
Restraint
An example of a private cost.
Cost of land
Pollution caused by waste products
Health hazards
Money made from the sale of products
Which one is a pressure group?
SAARC
Greenpeace
WWF
ASEAN
What is an advantage of technological change?
Workers will require training
New products encourage consumers to buy
Expensive to buy and introduced with no certainty that it will succeed
Customers still prefer personal contact
When is a scheme likely to be accepted in cost benefit analysis?
When the social benefits is greater than the social costs
When the social benefits is less than the social costs
When the social benefits is equal to the social costs
When there is no social costs
An example of a private benefit.
Jobs will be created
Other firms may move into the area to provide services to the firm
Important products will be produced to benefit the society
Licenses to pollute up to a certain level.
Penalties
Laws
Pollution permits
