Business Environment Test

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Business Environment Test - 39

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Weekly Quiz Competition

Question 1
1 / -0

The internal factors that contribute to the business environment is/are:
1. Research and Development
2. Company Image
3. Brand Equity
4. Value System
Select the correct answer from the options given below.

A
$$1, 2 $$ $$and$$ $$3$$ only

B
$$2, 3 $$ $$and$$ $$ 4 $$ only

C
$$ 2 $$ $$ and $$ $$ 4$$ only

D
$$4, 3, 2, 1$$

Solution

The internal factors that contribute to the business environment are:
1. Research and development: It refers to the discovery of new technology and upgrading it in the organisation of its development.
2. Company image: It refers to the goodwill which a company creates over the years of its operation.
3. Brand equity: It refers to the popularity which the company has and the proportion of customers which they receive due to this popularity.
4. Value system: It refers to the virtue of the business and its responsibility towards society and its members.
Hence, option (D) is the correct answer.
Question 2
1 / -0

Liberalization includes _________________________.

A
Adopting strict industrial licensing requirement in most of the industries

B
Reducing the fiscal burden of the state by relieving it of the losses of the SOEs and reducing the size of the bureaucracy

C
Simplified policies to attract foreign capital and technology to India

D
All of the above

Solution

Liberalization includes simplified policies to attract foreign capital and technology to India. Liberalization refers to the end of license, quota, and many more restrictions and control that were put on many industries. Liberalization helped to achieve international competitiveness by attracting foreign capital and technology to India.
Hence, option (C) is the correct answer.
Question 3
1 / -0

The object of privatization is/are________________.

A
To improve the performance of PSUs so as to lessen the financial burden on taxpayers

B
To encourage and to facilitate private sector investments, from both domestic and foreign sources

C
To generate revenues for the state

D
All of above

Solution

Privatization refers to giving greater role to private sector and reducing the role of public sector through disinvestment of public sector and dilution of stake of the government. The main objective of privatization is to improve the performance of private sector units, encourage investment in the private sector to raise the overall capital formation and to generate more revenue for the state.
Question 4
1 / -0

An organization has little or no control over its -
A. Internal environment
B. Inner environment
C. External environment

A
A and B

B
B and C

C
A only

D
C only

Solution

External business environment refers to the forces, factors and institutions with which the businessman has to deal with in order to achieve its objectives. It is the sum total of all external things which includes economic, social, political and technological factors that indirectly affects the conduct of a business and the businessman has no control over these forces
Question 5
1 / -0

Liberalization has helped us in achieving_____________.

A
High foreign exchange reserve

B
Low inflation rate

C
Strong rupee

D
All of above

Solution

Liberalization refers to end of licence, quota and many more restrictions and control that were put on many industries. The term basically refers to opening of the economy to the world and providing freedom to the departmental and public sector undertakings to access capital market in order to achieve international competitiveness.

Liberalization has helped us high foreign exchange reserves, low inflation rate in the economy through high investment and strong rupee by making other currencies relatively cheaper.
Question 6
1 / -0

Liberalization has helped us in achieving ___________.

A
A high growth rate

B
Easy availability of goods at competitive rates

C
A healthy and flourishing stock market

D
All of above

Solution

Liberalization has helped us in achieving :-a) A high growth rate
b) Easy availability of goods at competitive rates
c) Easy availability of goods at competitive rates
Liberalization refers to end of license, quota and many more restrictions and control that were put on many industries. Liberalization has so far helped us in achieving high growth rate, easy availability of goods at a competitive rates and a healthy and flourishing stock market for the economy.
Question 7
1 / -0

The internal environmental scanning includes _______________.

A
Structure (chain of command)

B
Culture (beliefs, expectations, values)

C
Resources (assets, skills, competencies, knowledge)

D
All of above

Solution

Environment scanning can be defined as the process by which organisations monitor their relevant environment to identify opportunities and threats affecting their business. The environment scanning is applied to both external as well as internal scanning process as business environment includes both external as well as internal environment in which the business is practiced.
The internal environment includes all the structural and cultural pattern of the organisation with resource structure that directly affects the conduct of the business.
Question 8
1 / -0

Which of the following statement is false?

A
Environmental factors do not control spinal cord activity

B
Motor cortex is not connected to the spinal cord in the beginning

C
Preference for moving right/left thumb starts in the eighth week of pregnancy

D
Parents have no say in making a child lefty or righty.

Solution

Environmental factor or ecological factor or eco factor is any factor, abiotic or biotic, that influences living organisms. include soil, water, climate, natural vegetation and land forms.
Environmental factors entail everything that changes the environment. Some factors are visible, while others cannot be seen. environmental factors may affect living things either directly or indirectly.
Question 9
1 / -0

Liberalization does not includes_______________.

A
Abolishing industrial licensing requirement in most of the industries

B
Freedom in deciding the scale of business activities

C
Restriction in fixing prices of goods and services

D
Simplifying the procedure for imports and exports.

Solution

Liberalization refers to the end of license, quota, and many more restrictions and control that were put on many industries. The term basically refers to the opening of the economy to the world and providing freedom to the departmental and public sector undertakings to access capital market in order to achieve international competitiveness. It does not provide restrictions in fixing prices of goods and services in the economy.
Hence, option (C) is the correct answer.
Question 10
1 / -0

Which of the following is NOT included in liberalization?

A
Reducing in tax matters

B
Abolition of licensing

C
Simplification of policies

D
Imposition of tariff barriers

Solution

Liberalization refers to the end of license, quota, and many more restrictions and control that were put on many industries. The term basically refers to opening of the economy to the world and providing freedom to the departmental and public sector undertakings to access capital market in order to achieve international competitiveness. It includes removal of tariff barriers for better flow of goods and services between the countries.
Hence, option (D) is the correct answer.

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Re-Attempt Weekly Quiz Competition

Business Environment Test - 39

Result

Business Environment Test - 39

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Rank

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SHARING IS CARING

Question 1

$$1, 2 $$ $$and$$ $$3$$ only

$$2, 3 $$ $$and$$ $$ 4 $$ only

$$ 2 $$ $$ and $$ $$ 4$$ only

$$4, 3, 2, 1$$

Solution

Question 2

Adopting strict industrial licensing requirement in most of the industries

Reducing the fiscal burden of the state by relieving it of the losses of the SOEs and reducing the size of the bureaucracy

Simplified policies to attract foreign capital and technology to India

All of the above

Solution

Question 3

To improve the performance of PSUs so as to lessen the financial burden on taxpayers

To encourage and to facilitate private sector investments, from both domestic and foreign sources

To generate revenues for the state

All of above

Solution

Question 4

A and B

B and C

A only

C only

Solution

Question 5

High foreign exchange reserve

Low inflation rate

Strong rupee

All of above

Solution

Question 6

A high growth rate

Easy availability of goods at competitive rates

A healthy and flourishing stock market

All of above

Solution

Question 7

Structure (chain of command)

Culture (beliefs, expectations, values)

Resources (assets, skills, competencies, knowledge)

All of above

Solution

Question 8

Environmental factors do not control spinal cord activity

Motor cortex is not connected to the spinal cord in the beginning

Preference for moving right/left thumb starts in the eighth week of pregnancy

Parents have no say in making a child lefty or righty.

Solution

Question 9

Abolishing industrial licensing requirement in most of the industries

Freedom in deciding the scale of business activities

Restriction in fixing prices of goods and services

Simplifying the procedure for imports and exports.

Solution

Question 10

Reducing in tax matters

Abolition of licensing

Simplification of policies

Imposition of tariff barriers

Solution

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