Management and Business Environment unit 3 Business Studies MCQ

Management and Business Environment

Quiz

 

1. Define business environment.
   1.   It is a sum total of all individuals, institutions and other factors that are not outside the control of a business enterprise, but influence its performance.
   2.   It is a sum total of all individuals, institutions and other factors that are outside the control of a business enterprise, but influence its performance.
   3.   It is a sum total of all individuals, institutions and other factors that are inside the control of a business enterprise, but influence its performance.
   4.   It is a sum total of all individuals, institutions and other factors that are outside the control of a business enterprise, but not influence its performance.
2. Which is not a features/Characteristics of business Environment?
   1.   Totally of external factors, Specific & General factors.
   2.   Inter related factors, uncertainty, Complexity.
   3.   Inter related factors, Certainty, Complexity, Totally of external factors, Specific & General factors.
   4.   Relative Impact, Dynamic
3. Name some Specific Forces influencing business environment -
   1.   Customer, investors
   2.   competitors, suppliers
   3.   A&B
   4.   none
4. Name some General Forces influencing business environment -
   1.   Economic, Social
   2.   Political, legal
   3.   technological
   4.   All the above
5. Why is business environment called uncertain?
   1.   due to rapid changes that are taking place in the factors influencing it.
   2.   due to non changes that are taking place in the factors influencing it.
   3.   due to rapid changes that are taking place in the factors which are not influencing it.
   4.   none
6. Why business environment is important?/ Give the reasons why business environment is important?
   1.   Identifying opportunities and getting First Make Advantage,
      Benefitting from rapid changes,
      Helpful in long term planning,
   2.   Helpful in preparing Strategies,
      Matching Technological needs,
      Improving market share,
      Encouraging research & Development
   3.   First Make Advantage,
      Benefitting from rapid changes,
      Helpful in long term planning,
      Discouraging research & Development
   4.   A&B
7. Why is it said that business environment is a "Relative Concept"?
   1.   because environmental changes may not have more impact on one company as compared to the other company
   2.   because environmental changes may have more impact on relatives company as compared to the other company
   3.   because environmental changes may have more impact on one company as compared to the other company
   4.   none
8. Inflation, interest rates changes in disposable income of people, value of rupees, capital markets, demand patterns, foreign exchange regulations are the factors of -
   1.   Economic Environment
   2.   Social Environment
   3.   Technological Environment
   4.   Legal Environment
9. Traditions, values and ethics, social trands are
   1.   Economic Environment
   2.   Social Environment
   3.   Political Environment
   4.   Legal environment
10. Which Environment relates to scientific improvements and innovations which provide new and better ways of producing goods and services and new methods and techniques of operating business
    1.   Legal Environment
    2.   Economic Environment
    3.   Social Environment
    4.   Technological Environment
11. Which Environment consists of factors relating to government affairs.
    1.   Social Environment
    2.   Political Environment
    3.   Economic Environment
    4.   Legat Environment
12. Which Environment refers to the framework of laws and legislations within which a business enterprise has to work?
    1.   Legal Environment
    2.   Social Environment
    3.   Economic Environment
    4.   Political Environment
13. What are the features of new industrial / economic policy?
    1.   Abolition of Industrial Licensing,
       Limited Role for Public Sector,
       Liberalisation of Foreign Investments,
       Liberalised Foreign Trade,
    2.   Technology upgradation,
       Setting up Foreign Investment Promotion Board,
       Incentives for small scale sector
    3.   Abolition of Industrial Licensing,
       Unliimited Role for Public Sector,
       Liberalisation of Foreign Investments,
       Liberalised Foreign Trade,
    4.   A&B
14. New economic policy made major changes in relation to
    1.   Liberalisation,
       Personalization,
       Globalisation
    2.   Liberalisation,
       Privatisation,
       Globalisation
    3.   Liberalisation,
       Privatisation,
       Nationalisation
    4.   Liberalisation,
       Semi Privatisation,
       Globalisation
15. Which is the process of freeing the economy from license system and other regulations?
    1.   Liberalisation
    2.   Privatisation
    3.   Globalisation
    4.   none
16. Why Privatisation was needed?
    1.   There was a need for more and more investments and government had limited resources.
       Need for professional management,
       Freedom
    2.   Freedom in decision making process,
       Use of resources properly
       There was a need to bring personal touch in working
    3.   There was a need for more and more investments and government had unlimited resources.
       No need for professional management,
       Freedom
    4.   A&B
17. What do you mean by Globalisation?
    1.   Globalisation means integrating the economy of a country with the world economy.
    2.   Globalisation means integrating the economy of a country within the nations economy.
    3.   Globalisation means integrating the economy of a country with the world wealth.
    4.   none
18. What are the impacts of Government Policy changes on Business?
    1.   Ease in entering Business,
       Increase in competitinous,
       Rapidly changing Technology Environment,
       More demanding customers
    2.   New marketing strategies,
       Emphasis on machine Development,
       Trust on import,
       Change in public sector policy
    3.   New marketing strategies,
       Emphasis on Human Resource Development,
       Trust on Export,
       Change in public sector policy
    4.   A&C
19. What is meant by liberalisation of Economy?
    1.   Liberalisation is the process of engaging the economy from license system and other regulations
    2.   Liberalisation is the process of freeing the economy from license system and other regulations
    3.   Liberalisation is the process of demanding the economy from license system and other regulations
    4.   all of the above
20. Which policy of the government has marched India towards liberalisation and globalisation?
    1.   The new industrial policy 1996
    2.   The new industrial policy 1992
    3.   The new industrial policy 1991
    4.   The new industrial policy 1990