Business Environment Test

Result

Business Environment Test - 4

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Weekly Quiz Competition

Question 1
1 / -0

Increase or decrease in the value of Rupee is an example of _________

A
Social Environment

B
Political Environment

C
Economic Environment

D
None of these

Solution

Economic environment consists of interest rates, inflation rates, stock market indices and increase and decrease in the value of rupee etc.
Question 2
1 / -0

Advertisements of cigarettes carry the statutory warning. This is becuase of ___

A
Social Environment

B
Political Environment

C
Legal Environment

D
None of these

Solution

Legal environment consists of various laws and legislations passed in the parliament. These can not be overlooked. Statutory warnings come under legal environment.
Question 3
1 / -0

Facebook, Twitter and Whatsapp is the result of ________________

A
Social Environment

B
Technologcal Environment

C
Political Environment

D
None of these

Solution

Technological environment includes change in the methods of production, use of new equipment and machineries to improve the quality of product, recent technological advancement in computers and electronics and internet/ World Wide Web etc.
Question 4
1 / -0

For the protection of a consumer's right, there is _____________

A
Consumer Protection Act, 1956

B
Consumer protection Act 1984

C
Consumer Protection Act, 1986

D
Consumer Protection Act, 1932

Solution

Consumer Protection Act, 1986 seeks to protect and promote the consumer's interest through speedy and inexpensive redressal of their grievances.
Question 5
1 / -0

Rise in GDP lead to rise in ___________________

A
Increase in new taxes

B
Cost of Production

C
Disposable income of people

D
None of these

Solution

While observing economic environment, the gross domestic product increases the disposable income of people of a country will also increase and it will increase demand for products.
Question 6
1 / -0

The complete awareness and understanding of business environment is called _________

A
Liberalisation

B
Privatisation

C
Technological advancement

D
Environmental Scanning

Solution

Environment scanning is the process by which organisations monitor their relevant environment to identify opportunities and threats. It finds out the influence of different factors and persons on the business.
Question 7
1 / -0

Through Environmental scanning a business firm can enjoy the ___________

A
Competition

B
Benefit of taxes

C
First Mover Advantage

D
Last Mover Advantage

Solution

Under environment scanning the businesses do their SWOT analysis. It provides the complete awareness and understanding of business environment. Thereby the businesses can take the first mover advantage.
Question 8
1 / -0

External environment trends and changes will provide ____________

A
Less Competition

B
Profits

C
Goodwill

D
Threats

Solution

Business environment is the sum total of all individuals, institutions and other forces that are outside the control of a business enterprise and it may affect its performance. Thus while analysing through SWOT analysis, trends and changes comes under threats.
Question 9
1 / -0

Globalisation aims at _____________

A
Import liberalisation

B
Export Promotion

C
Foreign exchange reforms

D
All of these

Solution

Globalisation refers to integrate different economies of the world. It involves free interaction of domestic economy with rest of the world in the fields of production, trade, capital movement, exchange rates etc.
Question 10
1 / -0

Advance understanding of business environment will help in __________

A
Developing new principles of management

B
Privatisation

C
Planning and Policy Formulation

D
Nothing

Solution

Business environment through environment Scanning helps in finding out the opportunities of the business and strategies can be made to grab these opportunities. The major planning and policy formulation are done keeping in mind the business environment.

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Re-Attempt Weekly Quiz Competition

Business Environment Test - 4

Result

Business Environment Test - 4

Score

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Rank

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SHARING IS CARING

Question 1

Social Environment

Political Environment

Economic Environment

None of these

Solution

Question 2

Social Environment

Political Environment

Legal Environment

None of these

Solution

Question 3

Social Environment

Technologcal Environment

Political Environment

None of these

Solution

Question 4

Consumer Protection Act, 1956

Consumer protection Act 1984

Consumer Protection Act, 1986

Consumer Protection Act, 1932

Solution

Question 5

Increase in new taxes

Cost of Production

Disposable income of people

None of these

Solution

Question 6

Liberalisation

Privatisation

Technological advancement

Environmental Scanning

Solution

Question 7

Competition

Benefit of taxes

First Mover Advantage

Last Mover Advantage

Solution

Question 8

Less Competition

Profits

Goodwill

Threats

Solution

Question 9

Import liberalisation

Export Promotion

Foreign exchange reforms

All of these

Solution

Question 10

Developing new principles of management

Privatisation

Planning and Policy Formulation

Nothing

Solution

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Question Analysis

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