Rule on these claims about business

Exercise and reference answers

Questions

1. Statement is true

   Yes

   Statement

   The business environment is dynamic and constantly changing.

2. Statement is true

   Yes

   Statement

   Liberalisation eases licensing and restrictions on business.

3. Statement is true

   No

   Statement

   Privatisation expands the role of the public sector.

4. Statement is true

   Yes

   Statement

   Globalisation links the home economy with the world economy.

5. Statement is true

   No

   Statement

   Interest rates and inflation sit in the social environment.

6. Statement is true

   Yes

   Statement

   The 2016 withdrawal of high value notes was demonetisation.

7. Statement is true

   No

   Statement

   A firm that fails to adapt tends to gain market share.

Instructions

Tap true or false for each claim about the forces that surround a business.

Explanation