Business Environment Test

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Business Environment Test - 21

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Weekly Quiz Competition

Question 1
1 / -0

Select out the one that is not a part of the macro-environment _________.

A
demographic forces

B
competition forces

C
political forces

D
natural forces

Solution

Macro environment is the environment which is external to the business. It deals with the PESTLE effect. These are Political, Economical, Social, Technological, Legal and Environmental. Hence, competitive forces are not a part of macro environment.
Question 2
1 / -0

Out of the following which is not classify as a political-legal factor in the external environment?

A
European Union's directive on working hours

B
Government policy on corporate taxes

C
Regulatory requirements for the telecommunication industry

D
Consumers' attitude towards the competition in the gas and electricity industries

Solution

The consumer attitude and buying behavior are the marketing and promotional factors that play role in the external environment and will not classify as a legal-political external environment.
Question 3
1 / -0

Internal strategy of a business invariably takes care of ______.

A
political environment

B
media

C
employees

D
Both B and C

Solution

Internal strategy of a business consists of all the internal factors necessary for the success of the business. It consists of factors such as media, employees, management etc. Hence, internal strategy of a business invariably takes care of media and employees.
Political environment is an factor external to the environment.
Question 4
1 / -0

There is a close and ________ interaction between the business and its environment.

A
one time

B
continuous

C
seldom

D
occasional

Solution

As a business environment is uncertain and dynamic, an enterprise has to keep itself fit to survive in this environment. An enterprise has to constantly keep an eye on this changing environment. It can be said that there is close and continuous interaction between business and its environment.
Question 5
1 / -0

Which are the $$6$$Ms of internal environment?

A
Media, management, money, monitory policy, mission man

B
Monitory policy, man, marketing, resources, money, machinery, miscellaneous factors.

C
Man, marketing resources, machinery, management, money, miscellaneous

D
None of the above

Solution

The six M's of internal enviornment are Man, Marketing, Machinery, Management, Money, Miscellaneous, Money.
Question 6
1 / -0

Analyzing process of change in the business environment involves conceptualizing it as ________.

A
complex

B
static

C
dynamic

D
diverse

Solution

Analyzing the process of changes in the business environment is a constant and ever changing process as the the business environment is dynamic in nature.
Question 7
1 / -0

The insecurity about tomorrow's products that haven't even been invented yet, reflects which aspect of the technological environment?

A
Concentration on minor improvements

B
Increased regulation

C
High R and D budgets

D
The fast pace of technological change

Solution

Technology changes at a fast pace and the change is happening faster. Technological growth has been significant in the past decade, this fast pace of technological change reflects the insecurity about tomorrow's product that haven't even been invented yet.
Question 8
1 / -0

Which of the following is a part of liberalization process?

A
Making industrial licensing requirement mandatory in most of the industry

B
Regulating the scale of business activities

C
Fixing of prices of goods and services

D
Simplifying the procedures for imports and exports

Solution

Liberalization can be termed as removal of controls. It is actually elimination of unnecessary controls and restrictions on the business organization. Features of Liberalization are as follows:
- Abolishing industrial licensing
- Reduction of tax rates
- Freedom in fixing of price of goods and services
-Simplifying the procedure of export and import
- Simple policies to enhance the investment from foreign companies
- Development of stiff competition
- Low inflation rate
Question 9
1 / -0

Research has shown that the most important demographic feature of India regarding, oversell attraction?

A
Easy availability of skilled labour

B
Easy availability of working population

C
Easy availability of mobile people

D
Easy availability of intermediary people

Solution

The easy availability of skilled labour has been the most important demographic feature of India regarding oversell attraction. Many foreign companies have set up their offices in India for the availability of skilled labour.
Hence, option (A) is the correct answer.
Question 10
1 / -0

Macro factors of business environment are generally _______.

A
As controllable as micro factors

B
Less controllable than micro factors

C
More controllable than micro factors

D
None of the above

Solution

The macro-environment includes those things that may impact businesses but which are outside of their control. It is the larger, external environment within which businesses operate from industry or economic standpoint. It is also known as a General or Remote environment. Macro factors include inflation, government budget, etc.
Hence, option (B) is the correct answer.

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Re-Attempt Weekly Quiz Competition

Business Environment Test - 21

Result

Business Environment Test - 21

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SHARING IS CARING

Question 1

demographic forces

competition forces

political forces

natural forces

Solution

Question 2

European Union's directive on working hours

Government policy on corporate taxes

Regulatory requirements for the telecommunication industry

Consumers' attitude towards the competition in the gas and electricity industries

Solution

Question 3

political environment

media

employees

Both B and C

Solution

Question 4

one time

continuous

seldom

occasional

Solution

Question 5

Media, management, money, monitory policy, mission man

Monitory policy, man, marketing, resources, money, machinery, miscellaneous factors.

Man, marketing resources, machinery, management, money, miscellaneous

None of the above

Solution

Question 6

complex

static

dynamic

diverse

Solution

Question 7

Concentration on minor improvements

Increased regulation

High R and D budgets

The fast pace of technological change

Solution

Question 8

Making industrial licensing requirement mandatory in most of the industry

Regulating the scale of business activities

Fixing of prices of goods and services

Simplifying the procedures for imports and exports

Solution

Question 9

Easy availability of skilled labour

Easy availability of working population

Easy availability of mobile people

Easy availability of intermediary people

Solution

Question 10

As controllable as micro factors

Less controllable than micro factors

More controllable than micro factors

None of the above

Solution

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