Business Environment means *
  • Internal Environment of Business
  • External Environment
  • Internal and External Environment
  • Economic Environment of country
Which of the following is not a feature of Business environment? *
  • Interrelated Elements
  • Complex
  • Continuous
  • Dynamic
Which of the following are the dimensions of the business environment? *
  • Economic Environment
  • Social Environement
  • Technological Enrionment
  • All of the above
________ refers to negative and unfavourable external factors that are likely to create hurdles for a firm *
  • Opportunities
  • Threats
  • Benefits
  • None of the above
Relaxing the restrictions and controls imposed on Business and industry means *
  • Globalisation
  • Liberalisation
  • Privatisation
  • All of the above
Globalization does not involve *
  • Reduction of barrier
  • Free flow of capital
  • Global mechanism for settlement of economic disputes
  • Free flow of goods & services
Which of the following are the impact of govt. policy changes on business & industry? *
  • Increased competition
  • More Demanding customers
  • Need for change
  • All of the above
Under which environmental effects IBM and Coca- cola had to leave India? *
  • Political
  • Technical
  • Social
  • Economic
The organic food market in India is grow at 25-30 per cent which reflects a clear shift in consumer tastes and preferences. The current growth in the organic food market is driven by multiplicity of factors like rising health consciousness, changing lifestyles, increase in disposable income and growing availability of organic food products in shopping malls, retail outlets and online. Which dimension of business environment is highlighted here?
  • Economic Environment
  • Social Environment
  • Political Environment
  • Technological Environment
No country is capable enough to produce all the goods and services itself required for its use. Almost all the countries have certain goods and services in surplus and in certain others, deficiency. In this way all of them feel the necessity for exporting the goods and services in surplus and those of deficiency , to import. In order to solve this problem several countries have zeroed in the complexities of import export business. Consequently, balance is getting established in the demand and supply of goods and services.Identify the concept of business environment discussed here. *
  • Globalisation
  • Privatisation
  • Liberalisation
  • All of the above
The internal business environment consists of...
  • factors that directly impact the organisation
  • factors that influence the operations of the business
  • factors that influence the wider environment in which the business operates
An example of an internal environmental factor is...
  • Legal issues eg consumer law
  • Suppliers
  • Employees
  • Competitors
The management of the business has ________ the market environment
  • Full control over
  • No control over
  • No control but can influence
  • Little control
Influences that come from within the business are in the
  • macro environment
  • external environment
  • operating environment
  • internal environment
What is one way a business can gain a competitive advantage?
ca-2 sb-1-Business Environmentimg_no 15.jpg
  • by offering consumers a worse quality product
  • by charging a higher price for a product
  • by doing what everyone else is doing in the market
  • by creating something entirely new for the market
What is meant by innovation in business?
ca-2 sb-1-Business Environmentimg_no 16.jpg
  • paying employees more
  • changing an existing process or product to make it better
  • gaining a competitive advantage
  • behaving in a sustainable and ethical manner
Consumers’ purchasing decisions can be influenced by a company’s marketing or advertising methods.
ca-2 sb-1-Business Environmentimg_no 17.jpg
  • True
  • False
Business Environment is a group of _____________ powers.
  • Special
  • General
  • Internal
  • Special and General
ITC Hotels made a study of the business environment and planned to open _____________________ in India and abroad.
  • Factories
  • Hotels
  • Shops
  • Offices
______________ is included in Economic Environment.
  • Economic System
  • Economic Policies
  • Economic Conditions
  • All of the above.
Which factor is not included in Internal Environment?
  • Objectives
  • Policies
  • Public
  • Production-Method
These days companies cannot avoid investing in ________ .
  • Research
  • Development
  • Research and Development
  • Employees
As a result of the Economic Reforms the Seller Market has been replaced by ________ .
  • Buyer Market
  • Foreign Market
  • Wholesale Market
  • Retail Market
The entry of the multinational companies in large numbers in the Indian market has created ________ .
  • Huge Demand
  • Huge Supply
  • Tough Competition
  • Huge Demand and Supply
In all the countries there is a free-flow of goods and services under which of the following does it come?
  • Liberalisation
  • Privatisation
  • Liberalisation and Privatisation
  • Globalisation
Which of the following does not characterise the business environment?
  • Uncertainty
  • Employees
  • Relativity
  • Complexity
Which of the following does not explain the impact of Government policy changes on business and industry?
  • More demanding customers
  • Increasing competition
  • Change in agricultural prices
  • Market orientation
With the introduction of Photostat Machines in the market, the carbon paper industry was adversely affected. Which component of environment was responsible for it?
  • Economic
  • Political
  • Technical
  • All of the Above
Which component of business environment resulted in the relaxation of ban imposed on the Foreign Direct Investment?
  • Economic Environment
  • Political Environment
  • Social Environment
  • Legal Environment
A firm should make efforts that it has ________ type of customers?
  • 1
  • 2
  • 3
  • Many
Relaxing the restrictions and controls imposed on Business and industry means
  • Globlization
  • Liberalization
  • Privatization
  • None of the above
In India, Liberalization & privatization began from----
  • 1991
  • 1950
  • 1981
  • 1971
Globalization is the term used to describe process of removal of restriction on------
  • Foreign Trade
  • Investment
  • Both (a) and (b)
  • None of the above
Just after the declaration of the results of the Lok Sabha Elections, 2009, the Bombay Stock Exchange’s price index (Sensex) rose by 2100 points in a day. Identify the environmental factor which led to this rise?
  • Legal Environment
  • Political environment
  • Social Environment
  • Economic Environment
Which of the following is a part of the business environment ?
  • Customers
  • Suppliers
  • Competitors
  • All of the above
Which of the following is not a component of specific forces of business environment?
  • Technological conditions
  • Customers
  • Employees
  • Investors
The growing awareness about healthcare has led to an increase in the demand for healthcare products and services in the country. Identify the feature of business environment being described in the above case.
  • Dynamic nature
  • Uncertainty
  • Relativity
  • Interrelatedness
A business has to offer wider choice in purchasing enhanced quality of goods and services in order to maintain an edge over its competitors. The implementation of the new economic policy with liberalisation, privatisation and globalisation has posed various challenges for the corporate sector. One of the important challenges is explained in the above lines. Identify it.
  • Increasing competition
  • More demanding customers
  • Necessity for change
  • Market orientation
Which of the following is a feature of demonetisation?
  • Tax administration measure
  • Channelising savings into the formal financial system
  • Development of less-cash economy
  • All of the above
In order to boost and double India’s export of goods and services to over USD 1,000 billion by 2025, it is important to lower effective corporate tax rate, bring down cost of capital and simplify regulatory and tax framework. Identify the related dimension of business environment.
  • Social dimension and Legal dimension
  • Technological dimension and Political dimension
  • Political dimension and Social dimension
  • Economic dimension and Legal dimension
 Following is not a specific force environment?
  • customers
  • suppliers
  • creditors
  • social
technological environment includes:
  • advances in production technology
  • advances in information technology
  • popularity of e -banking
  • all of the above
Following is not a general force environment:
  • political environment
  • social environment
  • competitors environment
  • Economic environment
Following is the impact of government policy changes on business and industry:
  • technological upgradation
  • Demanding customers
  • Increased competition
  • All of the above
Which of the following is not the element of political environment:
  • Constitution of the country
  • prevailing political system
  • popularity of e-banking
  • Level of political morality
Following are the elements of social environment:
  • Educational system and literacy rates
  • family structure
  • caste and occupational structure
  • all of the above
Following is not the features of business environment:
  • Totality of external forces
  • dynamic nature
  • industrial policy
  • uncertainty
Legal environment includes:
  • government policies related to pricing
  • the constitutional framework
  • goverment policies related to import and export
  • all of the above
Following is not the importance of business environment:
  • Get first mover advantage
  • complexity
  • Tapping useful resources
  • better performance
.Business environment does not have the following characteristics:
  • uncertainty   
  • employees 
  • relativity 
  • complexity
Which of the following is an example of social environment?
  • money supply in the economy     
  • consumer protection act
  • The constitution of the country       
  • composition of family
The importance of understanding of business environment is signified by :
  • The importance of understanding of business environment is signified by :
  • coping with rapid changes
  • improvement in performance         
  • all of the above
Following is not the dimension of the business  environment
  • political environment         
  • social environment
  • legal environment
  • nature
Following is not the dimension of the business
  • political environment         
  •                                                             social environment   
  •         privatization                                       
  • economic environment
Which of the following you will not include in economic environment
  • economic policies of government       
  • market for labour 
  •           per capita income                         
  • customs of people
.Globalisation signifies :
  • integration among various economies of the world
  • integration among various economies of the world
  • removal of economic licensing
  • none of the above
Liberalisation signifies:
  • INTEGRATION AMONG VARIOUS ECONOMIES OF WORLD
  • REDUCED  GOVERNMENT RESTRICTIONS & CONTROL
  • POLICY OF PLANNNED DISINVESTMENT
  • NONE OF THE ABOVE
Which of the  following is an example of social environment?
  • money supply in the economy
  • consumer protection act
  • the constitution of the country
  • composition of family
Any kind of external devices, like compact discs (CD’s) for computer, have become obsolete. Google, with its Google Drive service, Apple with its iCloud offering, enables the users store documents, photos, music and movies on web-based servers. Identify the feature of business environment being described in the above lines.
  • Relativity
  • Dynamic nature
  • Inter-relatedness
  • Uncertainty
The removal of entry and growth restrictions on business and industry is:
  • Liberalisation
  • Globalization
  • Privatization
  • Disinvestment
As a result of Economic Reforms, the production-oriented approach has been replaced by____________.
  • Market Oriented Approach
  • Seller Oriented Approach
  • Both (a) and (b)
  • None of these
'Beti Bachao Beti Padhao Yojana' started by the government of India is a part of:
  • Legal Environment
  • Economic Environment
  • Social Environment
  • Political Environment
______ is considered a major element of the political environment:
  • The extent and nature of government intervention in business
  • Planned outlay in public and private sectors
  • Expectations from the work force
  • An administrative order issued by government authorities
Change in Gross Domestic Product is a part of:
  • Economic Environment
  • Legal Environment
  • Political Environment
  • Social Environment
'Ooty, hill station in Tamil Nadu, banned the sale of single-use plastic items considering its negative impact on the environment '. ______ environment is highlighted here
  • Political
  • Legal
  • Technological
  • Social
Which of the following statement best describes the policy of Liberalisation?
  • Abolition of licensing requirements in most of the indistries
  • Reduction in tax rates and lifting of unnecessary controls over the economy
  • Both (a) and (b)
  • Setting up of Board of Industrial and Financial Reconstruction
Availability of e-books is an example of:
  • Economic Environment
  • Technological Environment
  • Legal Environment
  • Social Environment
Which of the following best indicates the importance of business environment?
  • Identification
  • Improvement in performance
  • Coping with rapid changes
  • All of them
"The Trade Unions Act, 1926" is an example of:
  • Legal Environment
  • Economic Environment
  • Social Environment
  • Political Environment
When did economic reforms take place in India?
  • 2001
  • 1991
  • 1981
  • 1971
Which of the following shakes the confidence among the business people to invest in the long-term projects:
  • New innovation
  • Political instability
  • Technological improvement
  • Change in preference of customers
Identify the feature of business environment.Demand for sarees may be high in India but almost negligible in Europe.
  • Relativity
  • Inter-relatedness
  • Complex
Considering the nationwide lockdown amid COVID-19 pandemic, ICICI has launched mobile ATM facility to let people stay safe at their homes. Which importance of business environment is highlighted here?
  • Helps in getting first mover advantage
  • Helps in identifying early threat signals
  • Helps in tapping resources
  • Helps in adapting with the rapid changes
Identify the point of importance of business environment from following statement.ITC Hotels planned new hotels in India after observing boom in tourism sector.
  • It enables the firm to identify opportunities and getting the first mover advantage.
  • It helps in tapping useful resources
  • It helps in assisting in planning and policy formulation
Which of thes options best describes opportunity cost?
  • The price of taking a chance
  • The alternative you have to go without in a choice of two things
  • The cost of opportunity
  • The price you pay when you make a choice
A bus fare is $2.00 in the morning rush hour, but only $1.50 during the afternoon. The morning fare can be explained by the fact that the demand for morning bus rides is
  • Price Elastic
  • Price Inelastic
Which of these are more representative of Price Elastic
  • Fresh fruit and vegetables
  • Milk, Eggs and Bread
What is a cost-benefit analysis?
  • The taxes that people pay when they buy something.
  • A process that allows businesses and individuals to analyze where to spend money.
  • The amount of money required to have or do something
What are consequences?
  • something that is possible but is not yet real
  • money charged to do something for a service
  • task that demands time and effort to complete
  • the results (positive or negative) of an action or decision
The opportunity cost of Australian households moving away from coal-powered energy to solar-powered energy includes:(i) the loss of jobs in the coal industry,(ii) a cleaner environment,(iii) reduced coal production.
  • (i), (ii) and (iii)
  • (ii) and (iii)
  • (iii) only
  • (i) and (iii)
What is a cost?
ca-2 sb-1-Business Environmentimg_no 118.jpg
  • the item you receive after you pay
  • giving up one thing for another
  • the amount of money paid for something
What is a benefit?
ca-2 sb-1-Business Environmentimg_no 119.jpg
  • the item you receive after you pay for it
  • giving up one thing for another
  • the amount of money paid for something
What is a trade-off?
ca-2 sb-1-Business Environmentimg_no 120.jpg
  • the item you receive after you pay
  • giving up one thing for another
  • the amount of money paid for something
You want to buy a new video game and a new pair of sneakers. You only have enough money to buy one of them. If you buy the video game, what is your trade-off?
ca-2 sb-1-Business Environmentimg_no 121.jpg
  • The money you spend on the video game
  • The video game
  • The sneakers
Which do people compare in order to make choices?
ca-2 sb-1-Business Environmentimg_no 122.jpg
  • Costs & Benefits
  • Supply & Demand
  • Buying & Selling
  • Apples & Oranges
What is it called when a product loses value over time?
  • Depreciation
  • Inflation
  • Assets
  • Growth
What is a cost?
ca-2 sb-1-Business Environmentimg_no 123.jpg
  • the item you receive after you pay
  • giving up one thing for another
  • the amount of money paid for something
What is a benefit?
ca-2 sb-1-Business Environmentimg_no 124.jpg
  • the item you receive after you pay for it
  • giving up one thing for another
  • the amount of money paid for something
What is a trade-off?
ca-2 sb-1-Business Environmentimg_no 125.jpg
  • the item you receive after you pay
  • giving up one thing for another
  • the amount of money paid for something
You want to buy a new video game and a new pair of sneakers. You only have enough money to buy one of them. If you buy the video game, what is your trade-off?
ca-2 sb-1-Business Environmentimg_no 126.jpg
  • The money you spend on the video game
  • The video game
  • The sneakers
Which do people compare in order to make choices?
ca-2 sb-1-Business Environmentimg_no 127.jpg
  • Costs & Benefits
  • Supply & Demand
  • Buying & Selling
  • Apples & Oranges
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