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Business Environment Test - 18

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Business Environment Test - 18
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Which of the following is not a part of the economic environment of business?
    Solution
    Dimensions of, or the factors constituting the business environment include economic, social, technological, political and legal conditions which are considered relevant for decision-making and improving the performance of an enterprise.
    Economic Environment includes interest rates, inflation rates, changes in disposable income of people, stock market indices and the value of rupee are some of the economic factors that can affect management practices in a business enterprise. Short and long term interest rates significantly affect the demand for product and services.
  • Question 2
    1 / -0
    Which among the following have not been opened for private sector participation?
    Solution
    Railways has not been opened for private sector participation. Railway sector is owned and managed by the Government of India. It is a public sector undertaking. Railways is still referred as a Government monopoly.
    Hence, option (D) is the correct answer.
  • Question 3
    1 / -0
    Which one of the following is not an element of internal environment?
    Solution
    Environment of a business can be classified as internal and external. External environment consists of factors or forces that are influencing the business from outside. They include customers.
    Internal elements include the factors that are internal to the business. The mission, objectives, policies, human resources and shareholders' value are examples of internal environment of a business.
  • Question 4
    1 / -0
    The benefit(s) of globalization is/are __________.
    Solution
    Globalization involves the various markets getting integrated across geographical boundaries. All the given alternatives are benefits associated with globalization.
  • Question 5
    1 / -0
    Which of the following best indicates the importance of business environment?
    Solution
    Identification, Improvement In performance, coping with rapid changes all are the indicators of importance of business environment.


  • Question 6
    1 / -0
    Liberalization means ________.
    Solution
    Liberalization refers to reduction of government controls and restrictions for international trade. It helps in globalization of markets. India was liberalized is 1991.
    Liberalization (or liberalisation) is any process whereby a state lifts restrictions on some private individual activities. Liberalization occurs when something which used to be banned is no longer banned, or when government regulations are relaxed.
  • Question 7
    1 / -0
    Which of the following does not explain the impact of Government policy changes on business and industry?
    Solution
    Change in agricultural prices does not explain the impact of government policy changes on the business and industry. All the government policies such as liberalization, globalization, privatization affect the working of business organization. Changes in agricultural prices is independent of government policy and takes place because of the supply and demand changes.
  • Question 8
    1 / -0
    Consumer attitudes and beliefs about diet, health and nutrition are influenced by______.
    Solution
    Consumer attitudes and beliefs about diet, health and nutrition are influenced by cultural environment. Cultural environment is responsible to shape the way every person develops. It also influence any individual's ideologies and personality.
  • Question 9
    1 / -0
    Which of the following does not characterize the business environment?
    Solution
    Business environment refers to the external forces such as individuals, enterprises, situation, and other such forces that affect the performance of the organization. Employees are integral to an organization and does not characterize its environment. 
  • Question 10
    1 / -0
    Products of different countries are available in the markets of India, because of the process of _______.
    Solution
    Globalization is this process of rapid integration or interconnection between countries. Due to globalization more and more goods and services, investments and technology are moving between countries.
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