This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 3 Business Environment – Quiz 16 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 3 Business Environment Quiz 16 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which factor is not included in Internal Environment? A) Objectives. B) Policies. C) Public. D) Production-Method. Show Answer Correct Answer: C) Public. 2. ..... is the practice of fixing price by the Government A) Minimum Support PrIce. B) Administerred pricing. C) Floor Pricing. D) None of these. Show Answer Correct Answer: A) Minimum Support PrIce. 3. What does S stand for in SWOT? A) Small. B) Strong. C) Strengths. D) Slow. Show Answer Correct Answer: C) Strengths. 4. To reduce the financial burden on the Government release larger amount of public resources locked up in non-strategic PSU's trough A) Disinvestment. B) Investment. C) Production. D) Nationalisation. Show Answer Correct Answer: A) Disinvestment. 5. A project manager is working on a project that is subject to frequent changes in government policy. What is the best strategy to manage this uncertainty? A) Develop a robust change management plan and monitor policy changes continuously. B) Ignore government policy changes and stick to the original project plan. C) Delay the project until government policies stabilize. D) Focus on project execution and deal with policy changes as they arise. Show Answer Correct Answer: A) Develop a robust change management plan and monitor policy changes continuously. 6. What does SWOT analysis help a firm to understand? A) Sales, Wages, Operations, Taxes. B) Strengths, Weaknesses, Opportunities, Threats. C) Suppliers, Workers, Owners, Traders. D) Systems, Workflows, Outputs, Targets. Show Answer Correct Answer: B) Strengths, Weaknesses, Opportunities, Threats. 7. The microenvironment directly affects a company's ability to: A) Compete in the market. B) Reduce production costs. C) Increase employee satisfaction. D) Expand globally. Show Answer Correct Answer: A) Compete in the market. 8. The entry of the multinational companies in large numbers in the Indian market hascreated . A) Huge Demand. B) Huge Supply. C) Tough Competition. D) Huge Demand and Supply. Show Answer Correct Answer: C) Tough Competition. 9. What is meant by the dynamic nature of the business environment? A) It is constantly changing due to various developments. B) It remains static over time. C) It only changes during economic downturns. D) It is predictable and stable. Show Answer Correct Answer: A) It is constantly changing due to various developments. 10. A gym's customers are part of which environment? A) Internal. B) Task. C) General. D) Natural. Show Answer Correct Answer: B) Task. 11. Which of the following is an example of a macro environment element? A) Customers. B) Suppliers. C) Competitors. D) Technology. Show Answer Correct Answer: D) Technology. 12. Why is it important for a business to understand its environment? A) To identify opportunities and threats. B) To minimize risks and capitalize on opportunities. C) To anticipate and adapt to changes in the market. D) All of the above. Show Answer Correct Answer: D) All of the above. 13. The following are under specific business environment except for ..... A) Shareholders. B) Sociocultural. C) Suppliers. D) Stakeholders. Show Answer Correct Answer: B) Sociocultural. 14. What are the major challenges faced by Indian industries in the global market? A) Lack of skilled labor. B) High production costs. C) Language barriers. D) Trade restrictions. Show Answer Correct Answer: B) High production costs. 15. What is the role of suppliers? A) To create competition. B) To set prices. C) To provide resources for business. D) To manage customer relations. Show Answer Correct Answer: C) To provide resources for business. 16. These factors are beyond the control of the management however, have a great impact on the performance, decision making, and strategy of the business. A) External Environment. B) Internal Environment. C) Macro Environment. D) Micro Environment. Show Answer Correct Answer: A) External Environment. 17. Business units from America, Canada, Australia, Germany, UK, are coming to India due to easy availability of skilled manpower A) Technological environment. B) Legal environment. C) Demographic environment. D) Natural environment. Show Answer Correct Answer: C) Demographic environment. 18. What factors should be considered in pursuing a business in commercial cooking? A) Economic, Political, Socio-cultural, Technological, Natural. B) Manpower, Skills, Capital, Technology, Markets. C) Demographic, International, Man, Material, Money. D) Suppliers, Customers, Competitors, Public, Intermediaries. Show Answer Correct Answer: B) Manpower, Skills, Capital, Technology, Markets. 19. Globalisation is concerned with ..... Market A) Rural. B) Local. C) Global. D) Kalyan. Show Answer Correct Answer: C) Global. 20. Deficit in balance of payments arises when foreign payments for ..... exceeds foreign receipts from ..... A) Import, export. B) Export, import. C) All the above. D) None of the above. Show Answer Correct Answer: A) Import, export. 21. Which factor is not included in Macro Environment? A) Economic Environment. B) Competitors. C) Social Environment. D) Political Environment. Show Answer Correct Answer: B) Competitors. 22. R & R Real Estate company buys errors and omissions liability insurance. What form of risk management is this? A) A avoidance. B) B. reduction. C) C. retention. D) D. transfer. Show Answer Correct Answer: D) D. transfer. 23. Vision and Mission are in the ..... environment A) Micro. B) Market. C) Macro. D) None of the above. Show Answer Correct Answer: A) Micro. 24. Analysis of the changes in business environment explains which feature of business environment? A) Complex. B) Static. C) Dynamic. D) Diverse. Show Answer Correct Answer: C) Dynamic. 25. Environmental scanning is a strategic tool in assessing the level of threat or opportunity the factors might affect the business. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. ← PreviousNext →Related QuizzesClass 12 Business Studies Chapter 3 Business Environment Quiz 1Class 12 Business Studies Chapter 3 Business Environment Quiz 2Class 12 Business Studies Chapter 3 Business Environment Quiz 3Class 12 Business Studies Chapter 3 Business Environment Quiz 4Class 12 Business Studies Chapter 3 Business Environment Quiz 5Class 12 Business Studies Chapter 3 Business Environment Quiz 6Class 12 Business Studies Chapter 3 Business Environment Quiz 7Class 12 Business Studies Chapter 3 Business Environment Quiz 8Class 12 Business Studies Chapter 3 Business Environment Quiz 9Class 12 Business Studies Chapter 3 Business Environment Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books