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Social Responsibility of Business and Business Ethics Test - 10

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Social Responsibility of Business and Business Ethics Test - 10
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Weekly Quiz Competition
  • Question 1
    1 / -0
    A business has the responsibility to provide a fair return to the __________.
    Solution

    Responsibilities towards the shareholders include:

    1. To ensure the safety of the investment.
    2. To ensure fair and regular return on investment.
    3. To give complete information regarding the financial position of the business.
    4. To ensure appreciation of investment by proper utilization of resources
    5. To give them opportunities to participate in decision-making.
  • Question 2
    1 / -0
    Injection of harmful substances into the environment is called ____________.
    Solution
    Pollution can be defined as the injection of harmful substances into the environment. Since industrialization, several small-scale and medium-scale industries have been set up in cities and towns. As a result, environmental pollution has become a major problem.
  • Question 3
    1 / -0
    A programme of Environment Impact Assessment (EIA) was introduced in India ___________.
    Solution

    Environmental Impact Assessment $$(EIA)$$ is an important management tool for ensuring optimal use of natural resources for sustainable development. $$EIA$$ is a tool to anticipate the likely environmental impacts that may arise out of the proposed developmental activities and suggest mitigation measures and strategies.
    $$EIA$$ was introduced in India in $$1978,$$ with respect to river valley projects.
  • Question 4
    1 / -0
    _________ label has been introduced to label consumer products that are environment friendly.
    Solution
    To increase consumer awareness, the Government of India launched the eco-labelling scheme known as $$`Ecomark'$$ in $$1991$$ for easy identification of environment-friendly products. Any product which is made, used or disposed of in a way that significantly reduces the harm it would otherwise cause the environment could be considered as Environment-Friendly Product. The $$'Ecomark'$$ label is awarded to consumer goods which meet the specified environmental criteria and the quality requirements of Indian Standards. Any product with the $$Ecomark$$ will be the right environmental choice.
  • Question 5
    1 / -0
    The Policy Statement of abatement of pollution was adopted in ______.
    Solution
    The Policy Statement for Abatement of Pollution, adopted in $$1992$$ lays emphasis on pollution prevention in place of the conventional end-of-the-pipe treatment also identified the adoption of best available and practicable technologies as the key element for pollution prevention. The focus of the programme is on such issues such as the promotion of clean and low waste technologies, waste minimization, reuse or recycling, improvement of water quality, environment audit, natural resource accounting, development of mass-based standards, institutional and human resource development etc. The whole issue of pollution prevention and control is dealt with by a combination of command and control methods as well as voluntary regulations, fiscal measures, promotion of awareness etc.
  • Question 6
    1 / -0
    The national apex body for assessment, monitoring and control of water and air pollution is __________.
    Solution
    The Central Pollution Control Board $$(CPCB)$$ of India is a statutory organisation under the Ministry of Environment, Forest and Climate Change.It serves as a field formation and also provides technical services to the Ministry of Environment and Forests of the provisions of the Environment (Protection) Act, $$1986$$. Principle functions of $$CPCB$$ are $$(i)$$ to promote cleanliness of streams and wells in different areas of the States by prevention, control and abatement of water pollution, and $$(ii)$$ to improve the quality of air and to prevent, control or abate air pollution in the country

  • Question 7
    1 / -0
    If business is to operate in a society which is full of diverse and complicated problems, it may have __________.
    Solution
    Every business has some sort of social responsibility. They have to work for the welfare of the society. If the society accepts the policy of the business and treats them well, surely the business becomes successful. But if society is full of diverse and complicated problems then the business have a little chance of success.
  • Question 8
    1 / -0
    A Cloth manufacturer distributes its defective product free of cost (after getting them repaired at lower cost) to orphanage. Which values are being attested in this solution?
    Solution
    In the given case, the manufacturer did not throw away the clothes in the scrap but he repaired them and offered them free of cost to the society. Thus, he fulfilled social responsibility, helped needy class of society as well as fully utilized defective product after improving them.
    Hence, D is the correct option.
  • Question 9
    1 / -0
    A National Environmental Awareness Campaign (NEAC) is organised ______.
    Solution
    National Environment Awareness Campaign is an important campaign of the Ministry of Environment
    and Forests $$(MoEF),$$ Government of India. This campaign was initially organised in $$1986,$$ with the objective
    of creating environmental awareness at the national level and, since then, it has become an annual activity.In this campaign, nominal financial assistance is provided to $$NGOs,$$ schools, colleges, universities, research institutes, women and youth organisations, army units, government departments etc. from all over the country for conducting awareness raising and action oriented activities. 
  • Question 10
    1 / -0
    Which of the following does not consist of environmental degradation?
    Solution
    Environmental degradation is the deterioration of the environment through depletion of resources such as air, water and soil; the destruction of ecosystems; habitat destruction; the extinction of wildlife; and pollution.It is defined as any change or disturbance to the environment perceived to be deleterious or undesirable. Ecological effect or degradation is created by the consolidation of an effectively substantial and expanding human populace, constantly expanding monetary development or per capita fortune and the application of asset exhausting and polluting technology. It occurs when earth’s natural resources are depleted and environment is compromised in the form of extinction of species, pollution in air, water and soil, and rapid growth in population.
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