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Business Environment Test - 14

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Business Environment Test - 14
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Weekly Quiz Competition
  • Question 1
    1 / -0
    The word 'Privatisation' is invented by__________.
    Solution
    The word 'Privatization' is invented by Peter F. Drucker.  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 2
    1 / -0
    Privatization is a/an ________.
    Solution
    Privatization is an international policy. 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 (D) is the correct answer.
  • Question 3
    1 / -0
    At present (2018) _______ industries are reserved for the public sector.
    Solution
    At present (2018) 2 industries are reserved for the public sector. Atomic energy and Railways are the only two government monopolies in India. Only public sector undertaking has the authority to run the activities of these industries.
    Hence, option (B) is the correct answer.
  • Question 4
    1 / -0
    The following are the ways of privatisation:
    1. Disinvestment  2. Denationalization
    3. Franchising    4. Contracting
    Which is correct?
    Solution
    Privatization is a global trend. Privatization can be defined as a process of transferring ownership or management of an enterprise from the public sector to the private sector. It helps to increase the size and dynamism of the private sector. It also helps to reduce administrative burdens on the public sector.
    The following are the ways of privatization:-
    1. Disinvestment:- Disinvestment refers to the use of a concerted economic boycott to pressure a government.
    2. Denationalization:-Denationalization, which is a form of privatization, occurs when a national government sells an asset or operation such as a large government-owned firm to private investors.
    3. Franchising:- Franchising is the awarding of exclusive rights to perform services within a specific geographic area to a private firm by a governmental unit. The private firm generates revenue by collecting user fees. Cable television is the most common example of this kind of privatization.
    4. Contracting:- Contracting out is the production of designated services by a private firm under a contract. Under this scenario, the private sector firm is paid directly by the government for its services.
    Hence, option (D) is the correct answer.
  • Question 5
    1 / -0
    One of the important methods of privatisation is ________.
    Solution
    One of the important methods of privatization is either disinvestment or privatization of ownership, through the sale of equity. 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 6
    1 / -0
    Reason(s) for Privatization __________________.
    Solution
    Reason for privatization is inefficiency, indifference, irresponsibility and corruption. Privatization is a global trend. 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 (D) is the correct answer.
  • Question 7
    1 / -0
    The following are the main objectives of the New industrial Policy (1991):
    1. To build on the gains already made
    2. To maintain a sustained growth in productivity
    3. To attain international competitiveness
    4. To maintain gainful employment
    Which is/are correct?
    Solution
    New Industrial Policy was adopted by the Government of India in the year of 1991. It was adopted in order to create a more freer and competitive economy. The following are the main objectives of the New Industrial Policy:-1. To build on the gains already made
    2. To maintain a sustained growth in productivity
    3. To attain international competitiveness
    4. To maintain gainful employment.    Hence, option (D) is the correct answer.
  • Question 8
    1 / -0
    New Economic Policy aims at the following objective(s) ______.
    Solution
    New Economic Policy was adopted by the Government of India in the year of 1991. It was adopted in order to create a more freer and competitive economy. New Economic Policy aims at the following objectives:
    a) Privatization
    b) Globalization
    c) Liberalization.Hence, option (D) is the correct answer.
  • Question 9
    1 / -0
    As per New Industrial Policy (1991) automatic permission will be given for foreign technology agreements in high priority industries upto a payment of _____.
    Solution
    As per New Industrial Policy (1991) automatic permission will be given for foreign technology agreements in high priority industries upto a payment of Rs 1,00,00,000. New Industrial Policy was adopted by the Government of India in the year of 1991.
     It was adopted in order to create a more freer and competitive economy. The main objective of any industrial policy is to augment the industrial production and thereby enhance the industrial growth.
  • Question 10
    1 / -0
    According to New Industrial Policy (1991)
    Which is incorrect?
    Solution
    According to New Industrial Policy the following statement is incorrect: In projects where imported capital goods are required, automatic clearance will be given in any cases. New Industrial Policy was adopted by the Government of India in the year of 1991. It was adopted in order to create a more freer and competitive economy.
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