Business Environment Test

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Business Environment Test - 9

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Weekly Quiz Competition

Question 1
1 / -0

The role of macro environment from the point of view of business may be _______.

A
positive

B
negative

C
both (A) and (B)

D
none of the above

Solution

Macro environment includes those factors which are external to a company's immediate environment. It can have both positive and negative role on business as it may boom or reduce the sales of business.
Question 2
1 / -0

Which of the following is/are true or false?
a) The micro environment refers to such players whose decisions and actions have a direct bearing on the company.
b) The macro environment comprises of large social and physical forces which affect the company and also the players in the company's micro environment.

A
Both (a) and (b) are true

B
(a) is true, (b) is false

C
(a) is false, (b) is true

D
Both (a) and (b) are false

Solution

The true statements are:
a) The micro environment refers to such players whose decisions and actions have a direct bearing on the company.
b) Macro environment comprises large social and physical forces which affect the company and also the players in the company's micro environment.
Question 3
1 / -0

Which of the following makes the internal environment of business?

A
Value system, goals and objectives and management structure

B
Physical assets

C
Financial and Marketing resources

D
All the above

Solution

The internal environment of business are the factors within the workplace that affects the business activities. They include, value system, goals and objectives and management structure, physical assets like an office and everything in that office. Also, financial resources and marketing resources established for working of the company.
Question 4
1 / -0

A capitalist economy is characterized by ______.

A
economic liberty

B
social ownership of means of production

C
central planning

D
social welfare objective

Solution

A capitalist economy is a free market form or capitalist economy, which is a self regulating system by self motivated individuals and regulated by competition. It provides economic liberty.
Question 5
1 / -0

Stagflation is characterized by ________.

A
Inadequate growth, inflation and unemployment

B
Inflation and disinflation

C
Inflation and deflation

D
Deflation and unemployment

Solution

Stagflation is an economic event in which the inflation rate is high, economic growth rate slows, and unemployment remains steadily high. Such an unfavorable combination is feared and can be a dilemma for governments since most actions designed to lower inflation may raise unemployment levels, and policies designed to decrease unemployment may worsen inflation.

Stagflation is characterized by slow economic growth and relatively high unemployment—or economic stagnation—which is at the same time accompanied by rising prices (i.e. inflation). Stagflation can also be alternatively defined as a period of inflation combined with a decline in gross domestic product (GDP).
Question 6
1 / -0

Macro environment business can be classified into which of the following groups?

A
Partial environment and general environment

B
Economic environment and non-economic environment

C
Static environment and dynamic environment

D
None of the above

Solution

Macro environment of a business can be classified into economic and non-economic environment.
The economic environment of a country includes economic policies, economic activity, macro economic policies etc.
The non-economic environment includes political system, social system, legal framework etc.
Question 7
1 / -0

Environment is a _________.

A
complex phenomenon

B
comprehensive phenomenon

C
economic phenomenon

D
non-economic phenomenon

Solution

Environment is dynamic in nature. It consists of various factor like trends, preferences and other factors which directly and indirectly affect the business.
It is a complex phenomenon as it cannot be directly controlled but its affect is directly applicable on business.
Question 8
1 / -0

The scheme of broad banding of Industries was introduced in ______________.

A
1948

B
1956

C
1980

D
1984
Question 9
1 / -0

The actual economic liberalization process began during _________.

A
1970's

B
1980's

C
1990's

D
1960's
Question 10
1 / -0

The term industrial policy refers to ___________.

A
the Government's policy towards industries their establishment, functioning, growth and management

B
the Government's policy towards industrialization of a country

C
government policy of industry

D
government control on industry

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Re-Attempt Weekly Quiz Competition

Business Environment Test - 9

Result

Business Environment Test - 9

Score

-

Rank

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SHARING IS CARING

Question 1

positive

negative

both (A) and (B)

none of the above

Solution

Question 2

Both (a) and (b) are true

(a) is true, (b) is false

(a) is false, (b) is true

Both (a) and (b) are false

Solution

Question 3

Value system, goals and objectives and management structure

Physical assets

Financial and Marketing resources

All the above

Solution

Question 4

economic liberty

social ownership of means of production

central planning

social welfare objective

Solution

Question 5

Inadequate growth, inflation and unemployment

Inflation and disinflation

Inflation and deflation

Deflation and unemployment

Solution

Question 6

Partial environment and general environment

Economic environment and non-economic environment

Static environment and dynamic environment

None of the above

Solution

Question 7

complex phenomenon

comprehensive phenomenon

economic phenomenon

non-economic phenomenon

Solution

Question 8

1948

1956

1980

1984

Question 9

1970's

1980's

1990's

1960's

Question 10

the Government's policy towards industries their establishment, functioning, growth and management

the Government's policy towards industrialization of a country

government policy of industry

government control on industry

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