Business Environment Test

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Business Environment Test - 20

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Weekly Quiz Competition

Question 1
1 / -0

Which of the following does not characterize the business environment?

A
Uncertainty

B
Relativity

C
Employers

D
Illegal affairs

Solution

Illegal affairs does not characterize the business environment. Business environment can be defined as the forces, factors and institutions with which the businessman has to deal with to achieve its objectives. In general words, business environment is referred to the surroundings in which business exists.
Question 2
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Internal factors of business environment include __________.

A
vision of the organization

B
mission of the organization

C
vision and mission of the organization

D
vision and mission of the organization and other internal mechanism of the organization

Solution

The internal environment consists of all the things that makes the business function within the organization. Some of the internal factors of business environment are vision and mission, employees, technology etc.
Question 3
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Appropriate technology ________.

A
is technology that seeks to replace energy intensive and polluting technologies

B
is technology that is best suited to the local internal and external environment in which a business operates

C
will occur when "high-tech" solutions replace "low-tech" ones

D
is when one business copies the technology that has been developed by another
Question 4
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Increase in the number of working women and the rise in no family households are examples of _______.

A
The geographic shifts in population

B
The changing family

C
The changing age structure of the population

D
A better-educated and more white-collar population

Solution

The changing social environment has led to increasing in the number of working women and the rise in a number of the family households of changes in the family.
Hence, option (B) is the correct answer.
Question 5
1 / -0

WTO helped in _______.

A
privatization

B
reducing the barriers to trade

C
helped in providing political stability for companies who are doing international business

D
all of the above

Solution

WTO is an intergovernmental organization that regulates international trade. It helps in the removal of trade barriers between member nations. Hence, WTO helped in cross burden trade.
Question 6
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Liberalization does not include ________.

A
reduction in taxes

B
simplifying exports

C
reducing administrative burden on state

D
abolishing industrial licensing requirement for most of the industries
Solution
Liberalization means the removal or loosening of restrictions on an economic or political system. It includes:
Reduction in taxes.
Simplifying exports.
Abolishing industrial licensing requirement for most of the business.
Question 7
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First mover advantage refers to ______.

A
early identification of business opportunities

B
early identification of uncertainty

C
early identification of business rivals

D
early identification of uncertainty in business
Question 8
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Business environment is multifaceted as _______.

A
it is an opportunity for some but a threat for others

B
it has multiple work to do

C
there are $$40$$ many different businesses.

D
none of the above

Solution

Multifaceted means having many facets or aspects. Business environment which is adopted efficiently by a person brings him as opportunity and on the other hand if it is not adopted well it becomes threat too. Hence, it is an opportunity for some but a threat for others.
Question 9
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The exercising of political authority at a higher level is often referred as _____.

A
economic policies

B
economic conditions

C
technology

D
globalization

Solution

The political authorities on a higher level exercise the economic policies as they are much aware about the business environment and how the economic policies play role in the business environment.
Question 10
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Business environment is dynamic in nature means ________.

A
early identification of opportunities

B
changes are always taking place in the business environment

C
identification of threats

D
giving directions for growth

Solution

The word dynamic means continuous change that takes place in the business. Hence, business environment is dynamic in nature means changes are always taking place in the business environment.

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Re-Attempt Weekly Quiz Competition

Business Environment Test - 20

Result

Business Environment Test - 20

Score

-

Rank

-

SHARING IS CARING

Question 1

Uncertainty

Relativity

Employers

Illegal affairs

Solution

Question 2

vision of the organization

mission of the organization

vision and mission of the organization

vision and mission of the organization and other internal mechanism of the organization

Solution

Question 3

is technology that seeks to replace energy intensive and polluting technologies

is technology that is best suited to the local internal and external environment in which a business operates

will occur when "high-tech" solutions replace "low-tech" ones

is when one business copies the technology that has been developed by another

Question 4

The geographic shifts in population

The changing family

The changing age structure of the population

A better-educated and more white-collar population

Solution

Question 5

privatization

reducing the barriers to trade

helped in providing political stability for companies who are doing international business

all of the above

Solution

Question 6

reduction in taxes

simplifying exports

reducing administrative burden on state

abolishing industrial licensing requirement for most of the industries

Solution

Question 7

early identification of business opportunities

early identification of uncertainty

early identification of business rivals

early identification of uncertainty in business

Question 8

it is an opportunity for some but a threat for others

it has multiple work to do

there are $$40$$ many different businesses.

none of the above

Solution

Question 9

economic policies

economic conditions

technology

globalization

Solution

Question 10

early identification of opportunities

changes are always taking place in the business environment

identification of threats

giving directions for growth

Solution

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