Business Environment Test

Result

Business Environment Test - 50

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Weekly Quiz Competition

Question 1
1 / -0

What creates fear in the minds of investors to invest in long term projects?

A
Privatisation

B
Liberalisation

C
Political Uncertainty

D
None of these

Solution

Political environment includes political conditions such as general stability and peace in the country and specific attitudes with the elected govt hold towards business.

Political instability will shake the confidence of business people.
Question 2
1 / -0

Which of the following creates fear in the minds of investors?

A
Political uncertainty

B
Technological improvements

C
New innovations

D
None of these

Solution

Political uncertainty creates fear in the minds of investors to invest in long-term projects. Political instability, changes in government policies, and lack of predictability can lead to a lack of confidence in the stability of the country's economy, which can discourage investors from investing in long-term projects.
Question 3
1 / -0

Facebook, Twitter and Whatsapp is the result of ________________.

A
Political Environment

B
Technologcal Environment

C
Social 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

Through Environmental scanning a business firm can enjoy the ___________.

A
First Mover Advantage

B
Benefit of taxes

C
Competition

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 5
1 / -0

Which of the following is not a part of industrial policy?

A
Tariff reduction

B
Subsidies to industry

C
Change in the corporate tax regime

D
All of the above

Solution

Industrial policy is concerned with economic growth. It includes changes in tax and tariff regimes, subsidies and changes in the financial structure of an economy, such as through government-sponsored enterprises.
Question 6
1 / -0

Liberalisation means:

A
Integration among economies

B
Policy of planned disinvestments

C
Reduced government controls and restrictions

D
None of above

Solution

Liberation refers to removing license, quota, permits and other restrictions and controls. Liberalization reduces the control of government and encourages private participation.
Question 7
1 / -0

Rise in GDP lead to rise in ___________________.

A
Disposable income of people

B
Cost of Production

C
Increase in new taxes

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 8
1 / -0

Institutions, organizations and policy mechanisms by which the people of a country manage and utilize the country's resources to obtain the things they need, refer to:

A
Economics

B
Ergonomics

C
Economic System

D
All of the above

Solution

Economic System refers to institutions, organizations and policy mechanisms by which the people of a country manage and utilize the country's resources to obtain things they need.
Question 9
1 / -0

Which of the following is not an element of the economic theory known as economic efficiency?

A
Consumer surplus

B
Corporate surplus

C
Public surplus

D
None of the above

Solution

The consumer’s willingness to pay for a specific good or service is the consumer’s “consumer surplus”. Consumers are willing to pay this amount of money (or other benefits) above and beyond what they pay for a product.
Question 10
1 / -0

Most of the underdeveloped economies are plagued by ______________which does not allow growth rates to rise from a low level.

A
High infant mortality

B
High population pressures

C
High monetary mismanagement

D
High level of technological unemployment

Solution

Most of the underdeveloped economies are plagued by 'High Population Pressures' which does not allow growth rates to rise from a low level.

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Re-Attempt Weekly Quiz Competition

Business Environment Test - 50

Result

Business Environment Test - 50

Score

-

Rank

-

SHARING IS CARING

Question 1

Privatisation

Liberalisation

Political Uncertainty

None of these

Solution

Question 2

Political uncertainty

Technological improvements

New innovations

None of these

Solution

Question 3

Political Environment

Technologcal Environment

Social Environment

None of these

Solution

Question 4

First Mover Advantage

Benefit of taxes

Competition

Last Mover Advantage

Solution

Question 5

Tariff reduction

Subsidies to industry

Change in the corporate tax regime

All of the above

Solution

Question 6

Integration among economies

Policy of planned disinvestments

Reduced government controls and restrictions

None of above

Solution

Question 7

Disposable income of people

Cost of Production

Increase in new taxes

None of these

Solution

Question 8

Economics

Ergonomics

Economic System

All of the above

Solution

Question 9

Consumer surplus

Corporate surplus

Public surplus

None of the above

Solution

Question 10

High infant mortality

High population pressures

High monetary mismanagement

High level of technological unemployment

Solution

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