Business Environment Test

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Business Environment Test - 13

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Weekly Quiz Competition

Question 1
1 / -0

The Wildlife (Protection) Act was adopted in ____________.

A
1972

B
1973

C
1934

D
1935

Solution

The Wildlife (Protection) Act was adopted in 1972. Prohibition on Hunting of Specified wild animals, birds and plants, setting up and management of national parks and wildlife sanctuaries, control of Trade and Commerce in wildlife and wildlife products are some objectives of Wildlife Protection Act.
Hence, option (A) is the correct answer.
Question 2
1 / -0

The Second Five Year Plan was based on ________.

A
Harrod Domer Model

B
Fel'dman Model

C
Mahalanobis Model

D
Consistency Model

Solution

The Second Five Year Plan was based on Maahalanobis Model. Time period for the second five-year plan was 1956-1961. It focused on mainly rapid industrialization and development of public sector. The target of 25% Increase in the national income was set through rapid industrialization.
Hence, option (C) is the correct answer.
Question 3
1 / -0

The period of Tenth Five Year Plan is _________.

A
1997-2002

B
2000-2005

C
2002-2007

D
2003-2008

Solution

Tenth Five-Year Plan (2002-07) of India! The National Development Council (NDC), headed by Prime Minister Atal Behari Vajpayee, approved unanimously in December 2002 the Tenth Five-year Plan, envisaging an 8 percent annual GDP growth.
Question 4
1 / -0

Industrial licensing is confined to ________.

A
5 industries

B
8 industries

C
10 industries

D
15 industries
Question 5
1 / -0

Peter F. Drucker used the term 'Privatisation' in his famous book, ________.

A
What is Privatisation?

B
The Age of Discontinuity

C
Quality and Competition

D
Global Economy

Solution

Peter F. Drucker used the term 'Privatization' in his famous book, 'The Age of Discontinuity'. Privatization can be defined as a process of transferring ownership or management of an enterprise from public sector to private sector. It helps to increase the size and dynamism of private sector. It also helps to reduce administrative burdens on the public sector.
Hence, option (B) is the correct answer.
Question 6
1 / -0

External sector liberalisation means _______.

A
relaxing restrictions on international flow of goods, services, technology and capital

B
relaxing restrictions on internal flow of capital

C
relaxing the role of market

D
all the above

Solution

External sector liberalization means relaxing restrictions on international flow of goods, services, technology and capital. External sector liberalization has helped bringing down the volatility as well as the instability of our economy. It helps to create a more free and competitive economy.
Question 7
1 / -0

Privatization means _______________________.

A
The transfer of ownership or management of an enterprise from the public sector to the private sector.

B
The transfer of ownership of an enterprise from the private sector to the public sector.

C
The withdrawal of the state from an industry, partially or fully.

D
Both (A) and (C)

Solution

Privatization describes the process by which a piece of property or business goes from being owned by the government to being privately owned. It generally helps governments save money and increase efficiency, where private companies can move goods quicker and more efficiently. It refers to transfer of ownership or management of an enterprise from the public sector to the private sector.
Hence, option (A) is the correct answer.
Question 8
1 / -0

Privatisation is a ____________.

A
Global phenomenon

B
Internal phenomenon

C
New phenomenon

D
Traditional phenomenon

Solution

Privatization is a global trend. Privatization can be defined as a process of transferring of ownership or management of an enterprise from public sector to private sector. It helps to increase the size and dynamism of private sector. It also helps to reduce administrative burdens on the public sector.
Question 9
1 / -0

Which of the following restrictions were removed by the liberalization policy?

A
Industrial licensing

B
Clearance from the MRTP act

C
Foreign Exchange restrictions

D
All the above

Solution

Liberalization policy helped to end of license quota and many more restrictions and controls which were put on industries before 1991. Following restrictions were removed by the liberalization policy:
a) Industrial licensing.
b) Clearance from the MRTP act.
c) Foreign Exchange restrictions.
Hence, option (D) is the correct answer.
Question 10
1 / -0

Consumer attitudes and beliefs about diet, health and nutrition are influenced by which of the following?

A
Economic environment

B
Cultural environment

C
Social environment

D
Natural environment
Solution
- An organisation runs its business activities in an environment that is surrounded by various factors internal and external to the environment. One of such factors are cultural influences.
- Traditions, beliefs and values are among the main factors influencing preferences of customers.

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Re-Attempt Weekly Quiz Competition

Business Environment Test - 13

Result

Business Environment Test - 13

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SHARING IS CARING

Question 1

1972

1973

1934

1935

Solution

Question 2

Harrod Domer Model

Fel'dman Model

Mahalanobis Model

Consistency Model

Solution

Question 3

1997-2002

2000-2005

2002-2007

2003-2008

Solution

Question 4

5 industries

8 industries

10 industries

15 industries

Question 5

What is Privatisation?

The Age of Discontinuity

Quality and Competition

Global Economy

Solution

Question 6

relaxing restrictions on international flow of goods, services, technology and capital

relaxing restrictions on internal flow of capital

relaxing the role of market

all the above

Solution

Question 7

The transfer of ownership or management of an enterprise from the public sector to the private sector.

The transfer of ownership of an enterprise from the private sector to the public sector.

The withdrawal of the state from an industry, partially or fully.

Both (A) and (C)

Solution

Question 8

Global phenomenon

Internal phenomenon

New phenomenon

Traditional phenomenon

Solution

Question 9

Industrial licensing

Clearance from the MRTP act

Foreign Exchange restrictions

All the above

Solution

Question 10

Economic environment

Cultural environment

Social environment

Natural environment

Solution

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