"Equity Investments":Industry and Company Analysis
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Questions 1:
Which of the following statements is most accurate about recessions?
A 、If severe, the demand for products of defensive companies will eventually be adversely affected.
B 、Consumers are more likely to defer purchases of products of defensive companies than of cyclical companies.
C、 Non-cyclical companies tend to underperform cyclical companies.
Questions 2:
A change in which of the following best describes a macroeconomic influence on industry growth?
A 、The cost of debt
B 、Personal spending habits
C、 Population size
A is correct. The impact of severe recessions usually reaches all parts of the economy and affects cyclical and defensive companies.
B is incorrect. Consumers do not tend to defer purchases from defensive companies during a recession.
C is incorrect. Cyclical companies underperform non-cyclical companies during economic recessions.
A is correct. External factors affecting an industry’s growth include macroeconomic, technological, demographic, governmental, and social influences. A change in interest rates, or the cost of debt, is an example of a macroeconomic influence on industry growth, profitability, and risk.
C is incorrect. Changes in population size is an example of a demographic influence on industry growth, profitability, and risk.
B is incorrect. Changes in personal spending habits is an example of a social influence on industry growth, profitability, and risk.
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