Business Environment Test

Result

Business Environment Test - 1

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Weekly Quiz Competition

Question 1
1 / -0

Technological improvements and innovations result in________

A
Reduction in profit margins

B
Increase in tax

C
Render existing products obsolete

D
None of these
Solution
Example of recent changes made old techniques obslete
- Digital watches to traditional watches
- Word processor to Typewriter
- LED TV to CRT TV
- Xerox machine to photo copier etc.
Question 2
1 / -0

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

A
Consumer Protection Act, 1956

B
Consumer Protection Act, 1986

C
Consumer Protection Act, 1932

D
Consumer protection Act 1984

Solution

Consumer Protection Act, 1986 seeks to protect and promote the consumer's interest through speedy and inexpensive redressal of their grievances.
Question 3
1 / -0

External environment trends and changes will provide ____________

A
Threats

B
Less Competition

C
Profits

D
Goodwill

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 4
1 / -0

Which of the following does not characterise the business environment?

A
Complexity

B
Uncertainty

C
Employees

D
Relativity

Solution

Employees are an integral part of business.

Whereas A customer, investor, competitors etc are the specific forces which affects the business environment.

Specific and general forces, Uncertainty, Relativity and Complexity are the main features of business environment.
Question 5
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 6
1 / -0

Advance understanding of business environment will help in __________

A
Developing new principles of management

B
Planning and Policy Formulation

C
Privatisation

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.
Question 7
1 / -0

Export promotion is concerned with ______________

A
Globalisation

B
Privatisation

C
Liberalisation

D
None of these

Solution

Globalisation refers to integration of domestic economy of a country with the international economy. It involves greater interaction and interdependence among various nations of global economy.
Question 8
1 / -0

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

A
Political Environment

B
Social 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 9
1 / -0

Which of the following is an example of social environment?

A
Consumer Protection Act

B
Money supply in the economy

C
The Constitution of the country

D
Composition of family

Solution

Social environment refers to the broad characteristics of the society in which a business enterprise operates.

composition of family comes under social environment , the other options are reference to legal environment and economic environment.
Question 10
1 / -0

Celebration of Diwali is the example of:

A
Political Environment

B
Technological Environment

C
Legal Environment

D
Social Environment

Solution

Social environment refers to all the characteristics of society in which business operates. It includes the customs and traditions of the society, standard of living, taste, preferences etc. The diwali increases the sale of sweets, crackers and clothes. Thus effects the business and comes under social environment.

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Re-Attempt Weekly Quiz Competition

Business Environment Test - 1

Result

Business Environment Test - 1

Score

-

Rank

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SHARING IS CARING

Question 1

Reduction in profit margins

Increase in tax

Render existing products obsolete

None of these

Solution

Question 2

Consumer Protection Act, 1956

Consumer Protection Act, 1986

Consumer Protection Act, 1932

Consumer protection Act 1984

Solution

Question 3

Threats

Less Competition

Profits

Goodwill

Solution

Question 4

Complexity

Uncertainty

Employees

Relativity

Solution

Question 5

Social Environment

Political Environment

Legal Environment

None of these

Solution

Question 6

Developing new principles of management

Planning and Policy Formulation

Privatisation

Nothing

Solution

Question 7

Globalisation

Privatisation

Liberalisation

None of these

Solution

Question 8

Political Environment

Social Environment

Economic Environment

None of these

Solution

Question 9

Consumer Protection Act

Money supply in the economy

The Constitution of the country

Composition of family

Solution

Question 10

Political Environment

Technological Environment

Legal Environment

Social Environment

Solution

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