12. What does the term"business environment" refer to? A. The physical location of a business B. The economic, social, and conditions that affect a business C. The company's internal organization.I structure D. The marketing strategies by a business 13. Which of the following is NOT considered a component of the external business environment? A. Distributers B. Customers C. consultants D. Government regulations 14. What does PESTEI analysis examine in the business environment? A. The financial performance of the company B. The suppliers behavior C. The marketing strategies of competitors D. The impact of government policies 15. In the context of international business, what does the term "Cultural Environment" encompass? A. The cultural values.beliefs, and practices of a foreign country B. Economic conditions of a foreign market C. Laws and regulations governing trade D. Environmental sustainability practices 16. Which type of business environment factor refers to the availability of skilled labor, the quality of infrastructurer, and technological advancements? A. Economic factors B. Technological factors C. Social factors D. Political factors 17. What does the term "supply chain" refer to in the business environment? A. The process of hiring and training employees B. The network of organizations and activities involved in producing and delivering goods and services to customers C. The financial resources of a business D. The company's marketing and advertising strategy 18. Which of the following is an example of a macro-environmental factor in the business environment? A. Changes in consumer buying habits B. A company's pricing strategy C. Government regulations affecting all businesses in a country D. Technological innovations within the industry 19. How does a business typically adapt to changes in its external business environment? A. By maintaining a rigid and unchanging business strategy B. Byignoring external factors and focusing solely on internal operations C. By implementing strategies to capitalize on opportunities and mitigate threats D. By aligning itself to the immediate external environment 20. What is the primary purpose of conducting a SWOT analysis in the business environment? A. To identify business opportunities B. To determine the political climate of a country C. To evaluate the competition's marketing strategies D. To identify and exploit weaknesses 21. Which form of business ownership is characterized by a single owner who has full control and unlimited personal liability? A. Family business B. Sole ownership C. Partnership D. Retail business