Business Environment Test

Result

Business Environment Test - 24

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Weekly Quiz Competition

Question 1
1 / -0

In a business environment, which one of the following is not a political factor?

A
Tax policy

B
Employment laws

C
Environment regulations

D
Exchange rate

Solution

Political Factors-
(a) political factors refer to the stability of the political environment and the attitudes of political parties or movements.
(b) government influence on tax policies, or government involvement in trading agreements
(c) freedom of press
(d) environmental and consumer protection legislation
(e) trade restrictions
(f) employment laws
The exchange rate is not a political factor because it is an economic factor.
Question 2
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Push factors for locating a business includes _________.

A
availability of skilled labour

B
rising competition in an area

C
government support

D
technological advancement

Solution

Push factors include rising competition in an area, rising costs, poor communication systems, falling demand. There are a number of push and pull factors drawing firms toward certain locations and away from others. Factors drawing away business from a certain location is called as push factor. Hence, push factors for locating a business include rising competition in an area.
Question 3
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Opening up of an industry that has been reserved for the public sector to the private sector is an example of ______.

A
Modernisation

B
Liberalisation

C
Globalisation

D
Privatisation

Solution

Privatization can refer to the act of transferring ownership of specified property or business operations from a government organization to a privately owned entity, as well as the transition of ownership from a publicly traded, or owned, company to a privately owned company.
Hence, option (D) is the correct answer.
Question 4
1 / -0

In the acronym PESTLE 'L' stands for _________.

A
legal

B
logical

C
losses

D
language

Solution

PESTEL stands for
P- Political
E- Economic
S- Social
T- Technological
E- Environmental
L- Legal
Question 5
1 / -0

Research which is pro-actively carried out for a specific purpose is called ________.

A
primary research

B
secondary research

C
active scanning

D
creative destructions

Solution

Research that is pro-actively carried out for a specific purpose is called primary research. It helps to acquire data to serve a specific purpose. Primary research generally obtains information from direct sources,
Hence, option A is correct.
Question 6
1 / -0

Environmental scanning includes _______.

A
internal

B
external

C
both (a) and (b)

D
none of the above

Solution

Environmental scanning includes both internal and external. The complete awareness and understanding of the business environment are known as environmental scanning. Environment scanning is conducted to find out the influence of different factors and persons on business transactions. It is done to identify opportunities and threats affecting the business organization.
Hence, option C is correct.
Question 7
1 / -0

What is most appropriate externally imposed strategy?

A
Imposition of strategy by individual shareholder.

B
Imposition of strategy by managers

C
Reacting to threats and opportunities in the environment

D
The imposition of strategy by Government in companies where it has extensive regulation.

Solution

The imposition of strategy by the Government in companies where it has extensive regulation is the most appropriate externally imposed strategy since externally imposed strategy can be defined as a strategy which is deliberately imposed on the organization from the elements of the external business environment upon which the organization has no or little control.
Hence, option (D) is the correct answer.
Question 8
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Cartel is :

A
Fraudulent behaviour of company

B
Fraudulent behaviours of bidden

C
Fraudulent collusion between bidders

D
All of the above

Solution

A cartel is an organization created from a formal agreement between a group of producers of a good or service to regulate supply in an effort to regulate or manipulate prices. In other words, a cartel is a collection of otherwise independent businesses or countries that act together as if they were a single producer and thus are able to fix prices for the goods they produce and the services they render without competition.
A cartel is a group of apparently independent producers whose goal is to increase their collective profits by means of price fixing, limiting supply, or other restrictive practices. Cartels typically control selling prices, but some are organized to control the prices of purchased inputs. Antitrust laws attempt to deter or forbid cartels. A single entity that holds a monopoly by this definition cannot be a cartel, though it may be guilty of abusing said monopoly in other ways. Cartels usually occur in oligopolies, where there are a small number of sellers and usually involve homogeneous products.
Question 9
1 / -0

Which of the following is a way that employers perceive or use resumes?

A
Employers use resumes to disqualify unsuitable applicants from the job.

B
Employers assume that a resume is too short to be indicative of what the applicants work is like.

C
Employers read every word in resumes to be through.

D
Employers place very little emphasis on resumes when evaluating candidates for a job.
Question 10
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What is the watershed year in the history of e-mail marketing

A
1976

B
1974

C
1972

D
1970

Solution

1976 was a watershed year in the history of e-mail marketing. By 1976 email had really taken off, and commercial packages began to appear. Within a couple of years, 75% of all ARPANET traffic was email.

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Re-Attempt Weekly Quiz Competition

Business Environment Test - 24

Result

Business Environment Test - 24

Score

-

Rank

-

SHARING IS CARING

Question 1

Tax policy

Employment laws

Environment regulations

Exchange rate

Solution

Question 2

availability of skilled labour

rising competition in an area

government support

technological advancement

Solution

Question 3

Modernisation

Liberalisation

Globalisation

Privatisation

Solution

Question 4

legal

logical

losses

language

Solution

Question 5

primary research

secondary research

active scanning

creative destructions

Solution

Question 6

internal

external

both (a) and (b)

none of the above

Solution

Question 7

Imposition of strategy by individual shareholder.

Imposition of strategy by managers

Reacting to threats and opportunities in the environment

The imposition of strategy by Government in companies where it has extensive regulation.

Solution

Question 8

Fraudulent behaviour of company

Fraudulent behaviours of bidden

Fraudulent collusion between bidders

All of the above

Solution

Question 9

Employers use resumes to disqualify unsuitable applicants from the job.

Employers assume that a resume is too short to be indicative of what the applicants work is like.

Employers read every word in resumes to be through.

Employers place very little emphasis on resumes when evaluating candidates for a job.

Question 10

1976

1974

1972

1970

Solution

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