This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 3 Business Environment – Quiz 18 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 3 Business Environment Quiz 18 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. He growing awareness about the negative effects on plastic on health and environment has led to the decrease in the demand for plastic products in the country. Identify the feature of business environment being described in the above case. A) Dynamic. B) Inter-related. C) Uncertainty. D) Relative. Show Answer Correct Answer: B) Inter-related. 2. What are the 2 components of Business Environment? A) Man and Machinery. B) Money and Management. C) Suppliers and Customers. D) Internal Environment and External Environment. Show Answer Correct Answer: D) Internal Environment and External Environment. 3. ..... means removal of entry and growth restrictions on the private sector. A) Liberalisation. B) Privatisation. C) Globalisation. D) None of the above. Show Answer Correct Answer: A) Liberalisation. 4. What is the purpose of college? A) To provide a product. B) To provide a service. C) All the above. D) None of the above. Show Answer Correct Answer: B) To provide a service. 5. What does the Global Business Environment (GBE) refer to? A) External forces influencing businesses within a single country. B) Internal management policies. C) External forces influencing international business operations. D) Employee satisfaction strategies. Show Answer Correct Answer: C) External forces influencing international business operations. 6. Trade policy refers? A) Money supply. B) Traffis. C) Labour market. D) None of the above. Show Answer Correct Answer: B) Traffis. 7. What are the external factors affecting the business environment? A) Economic conditions, political and legal factors, social and cultural trends, technological advancements, environmental factors, competitive dynamics. B) Market fluctuations, consumer preferences, supply chain issues. C) Brand loyalty, employee satisfaction, market segmentation. D) Global trade agreements, inflation rates, interest rates. Show Answer Correct Answer: A) Economic conditions, political and legal factors, social and cultural trends, technological advancements, environmental factors, competitive dynamics. 8. Trade restrictions such as tariffs (a tax placed on imported goods) are usually created to: A) Increase government revenue and support imports. B) Encourage foreign competition and lower prices. C) Promote international cooperation and trade agreements. D) Protect domestic industries by reducing competition from cheaper foreign goods. Show Answer Correct Answer: D) Protect domestic industries by reducing competition from cheaper foreign goods. 9. Prices are used in our economy to: A) A offer excessive demand. B) B. cause no change demand. C) C. encourage excessive supply of products. D) D. determine what goods are to be produced and in what quantities. Show Answer Correct Answer: D) D. determine what goods are to be produced and in what quantities. 10. Explain the effects of privatization on tourism in India. A) Privatization has no impact on tourism in India. B) Privatization has improved infrastructure and service quality in Indian tourism but may increase costs and create inequalities. C) Privatization has made tourism in India more affordable for everyone. D) Privatization has solely decreased service quality in Indian tourism. Show Answer Correct Answer: B) Privatization has improved infrastructure and service quality in Indian tourism but may increase costs and create inequalities. 11. An organisation that has outlets in 20 countries is classed as ..... A) National. B) Local. C) Global. D) International. Show Answer Correct Answer: C) Global. 12. ..... are interested in the returns they receive on their investment in the company. A) Shareholders. B) Customers. C) Pressure Groups. D) Employees. Show Answer Correct Answer: A) Shareholders. 13. Which of the following is a characteristic of globalization? A) Reduction in international trade. B) Integration of economies and societies. C) Increased government control. D) Isolation of national economies. Show Answer Correct Answer: B) Integration of economies and societies. 14. A bus fare is $ 2.00 in the morning rush hour, but only $ 1.50 during the afternoon. The morning fare can be explained by the fact that the demand for morning bus rides is A) Price Elastic. B) Price Inelastic. C) All the above. D) None of the above. Show Answer Correct Answer: B) Price Inelastic. 15. The business environment is like: A) A boat and the ocean. B) A cup of tea. C) A textbook. D) A cricket team. Show Answer Correct Answer: A) A boat and the ocean. 16. Maya is studying how the ability to travel more freely has impacted globalization. What has she discovered? A) It helps enable the spread of culture and ideas. B) It promotes a sense of nationalism. C) It escalates competition between businesses. D) It breaks down political barriers between countries. Show Answer Correct Answer: A) It helps enable the spread of culture and ideas. 17. Elastic demand is more likely when the good is: A) A a luxury. B) B. imported. C) C. a lower price. D) D. inexpensive. Show Answer Correct Answer: A) A a luxury. 18. Things your competitor does better than you. A) Strength. B) Weakness. C) Opportunity. D) Threat. Show Answer Correct Answer: B) Weakness. 19. Arc Electric Company holds regular safety training meetings for its employees. What form of risk management is this? A) A capital. B) B. reduction. C) C. retention. D) D. transfer. Show Answer Correct Answer: B) B. reduction. 20. A business that buys goods or services and sells them to the ultimate consumer is a: A) A manufacturer. B) B. producer. C) C. retailer. D) D. wholesaler. Show Answer Correct Answer: C) C. retailer. 21. NITI Aayog's core concept is A) Completion among states. B) Cooperative federalism. C) Federal union. D) States' autonomy. Show Answer Correct Answer: B) Cooperative federalism. 22. What is the role of employees in influencing change within a business? A) They provide regulatory guidelines. B) They implement and adapt to changes. C) They determine interest rates. D) They set industry standards. Show Answer Correct Answer: B) They implement and adapt to changes. 23. Kebijakan pemerintah untuk menurunkan nilai mata uang dalam negeri (rupiah) terhadap mata uang asing, disebut dengan A) Premi. B) Devaluasi. C) Subsidi. D) Dumping. Show Answer Correct Answer: B) Devaluasi. 24. How can legal factors affect business decisions? A) Legal factors only impact employee morale. B) Legal factors can dictate operational practices. C) Legal factors are irrelevant to market competition. D) Legal factors have no influence on pricing strategies. Show Answer Correct Answer: B) Legal factors can dictate operational practices. 25. Which of the following could be a strength? A) Weather. B) A new international market. C) A price that is too high. D) The location of a business. Show Answer Correct Answer: D) The location of a business. ← 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