Business Environment Test

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Business Environment Test - 46

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Weekly Quiz Competition

Question 1
1 / -0

Which among the following has the least possibility of globalization?

A
selection of labour force

B
location of capital works

C
to manage resources for investment

D
increase in infrastructure
Question 2
1 / -0

As regards the use of international food safety standards as reference point for the dispute settlements, which one of the following does WTO collaborate with?

A
International Organization for Standardization.

B
International federation of Standards Users.

C
Codex Alimentarius Commission

D
World Standard Cooperation

Solution

Collaboration between WTO and the Codex Alimentarius concerns the use of international food safety standard in the context of the SPS Agreement, World standard corporations : High level collaboration between the IEC, ISO and ITU.
International Federation of Standard users : Founded in 1974. It is an independent, non profit, international association of national organisation for the application & standards.
Question 3
1 / -0

Which one of the following is the final session of the General Agreement on Tariff- and Trade (GATT)?

A
Singapore session

B
Geneva session

C
Washington session

D
Uruguay session

Solution

Uruguay session is the final session of the General Agreement on Tariffs and Trade (GATT). The Uruguay Round lasted from 1986-94. It was the most ambitious round to date, hoping to expand the competence of the GATT to important new areas such as services, capital, intellectual property, textiles, and agriculture. One of the most significant changes in the Uruguay round was the creation of the World Trade Organization (WTO).
Question 4
1 / -0

'Structural reform measures' was one of the two categories of measures announced by the Government to be taken under the process of economic reforms in India. These measures deal with-
1. redefining the role of state in the economy
2. attempting higher participation of private capital - Indian and foreign
3. Increasing aggregate supply in the economy.
Select the answer using the code given below.

A
$$1$$ and $$2$$

B
$$2$$ and $$3$$

C
$$1$$ and $$3$$

D
$$1, 2$$ and $$3$$
Question 5
1 / -0

Which of the following is not an important characteristic of business environment?

A
Image building

B
Continuous learning

C
Giving direction for shrinking

D
Opportunities and threats

Solution

Characteristics of business environment involve building goodwill of the firms by building a positive image of the firm, its ability to continuously learn about the dynamics of the business and realizing various opportunities and threats for the organization.
However, it does not involve giving directions for shrinking as expanding of businesses are one of the major motives.

Hence, C is the correct option.
Question 6
1 / -0

ABC company is aiming towards Joint venture and partnership with other firms to mange uncertainty. This is an example of following type of Organizational response to the environment ?

A
Collective response

B
Competitive response

C
Micro environmental response

D
Administrative response

Solution

Many organizations cope with environmental dependence problems through strategic collective responses including methods like co-opting, bargaining, alliances, etc. This is called as collective organisational response to the environment.

In the above case, ABC Ltd. is aiming to merge with other firms to manage uncertainty. This points towards the collective response.
Hence, A is the correct option.
Question 7
1 / -0

Which dimension of an organization's environment refers to the degree to which it can support growth?

A
Capacity

B
Technology

C
Structure

D
Volatility

Solution

The capacity of an organisation defines whether the organisation is able to initiate growth or not. This capacity is build over the years by increasing the retained earnings from the business and using them as growth generating agents later on.
Question 8
1 / -0

Globalisation does NOT involve which one of the following?

A
Rapid integration between countries

B
More goods and services moving between countries

C
Increased taxes on imports

D
Movement of people between countries for jobs, education etc

Solution

Tax on imports is an example of trade barrier. Once barriers are removed goods can be imported and exported easily and also foreign companies could set up factories and offices here. Removing barriers or restrictions set by the governments is what is known as liberalisation.
Question 9
1 / -0

Changes in which of the following areas did you identify as the main causes of strategic change?
(i) Environment
(ii) Business relationships
(iii) Technology
(iv) People
Select the correct answer from the options given below-

A
(i), (ii) and (v)

B
(i),(ii),(iii)

C
(ii), (iii) and (iv)

D
All of the above

Solution

Strategic change refers to any changes in the organisation that is regarded as a very important organizational change as it leads to changes in the organisational policies for all the levels of management. It includes changes in business relationships. Technology and people that affect the business which can be consumers , investors etc.
Question 10
1 / -0

Which is not the aim of Liberalisation and Globalisation?

A
More production at all levels

B
Increase in the trade of goods and services

C
Generating more employment opportunities

D
Increase in the subsidies to the poor and deprived sections of society

Solution

More production at all levels as raw materials can be obtained from any part of the world.
Globalisation means selling of goods in any part of the world. Many companies are opening their offices around the world because of which they ae earning more profits.
MNC's are generating more employment opportunities for people.

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Re-Attempt Weekly Quiz Competition

Business Environment Test - 46

Result

Business Environment Test - 46

Score

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Rank

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SHARING IS CARING

Question 1

selection of labour force

location of capital works

to manage resources for investment

increase in infrastructure

Question 2

International Organization for Standardization.

International federation of Standards Users.

Codex Alimentarius Commission

World Standard Cooperation

Solution

Question 3

Singapore session

Geneva session

Washington session

Uruguay session

Solution

Question 4

$$1$$ and $$2$$

$$2$$ and $$3$$

$$1$$ and $$3$$

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

Question 5

Image building

Continuous learning

Giving direction for shrinking

Opportunities and threats

Solution

Question 6

Collective response

Competitive response

Micro environmental response

Administrative response

Solution

Question 7

Capacity

Technology

Structure

Volatility

Solution

Question 8

Rapid integration between countries

More goods and services moving between countries

Increased taxes on imports

Movement of people between countries for jobs, education etc

Solution

Question 9

(i), (ii) and (v)

(i),(ii),(iii)

(ii), (iii) and (iv)

All of the above

Solution

Question 10

More production at all levels

Increase in the trade of goods and services

Generating more employment opportunities

Increase in the subsidies to the poor and deprived sections of society

Solution

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