This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 3 Business Environment – Quiz 29 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 3 Business Environment Quiz 29 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. In SWOT analysis 'W' stands for A) World. B) Worst. C) Worry. D) None of above. Show Answer Correct Answer: D) None of above. 2. An overall reduction in consumer spending power is known as A) Recession. B) Entrepreneurial factors. C) Socio economic issues. D) Legislation. Show Answer Correct Answer: A) Recession. 3. Trade between two contries is known as A) Multi lateral trade. B) Bilateral trade. C) Unilateral trade. D) None of the above. Show Answer Correct Answer: B) Bilateral trade. 4. Which component is part of the macro-environment? A) Political factors. B) Consumer behavior. C) Supplier relationships. D) Organizational structure. Show Answer Correct Answer: A) Political factors. 5. When there is period of prolonged economic growth, this is called a: A) Boom. B) Recession. C) Slump. D) Recovery. Show Answer Correct Answer: A) Boom. 6. How can businesses respond to macro-environment challenges? A) By reducing their workforce. B) By increasing prices. C) By forming coalitions with other businesses. D) By ignoring them. Show Answer Correct Answer: C) By forming coalitions with other businesses. 7. Define the doctrine of judicial precedent A) Bindingness of all courts. B) It is mandatory to bind all decisions from all stages of courts. C) Decisions of the higher courts in previous cases must be followed by the lower courts in similar cases/situations. D) Decisions of all superior courts to follow decisions made by the subordinate courts. Show Answer Correct Answer: C) Decisions of the higher courts in previous cases must be followed by the lower courts in similar cases/situations. 8. Lily's company wants to expand internationally and is considering creating a wholly owned subsidiary. They can do this by building a facility in a foreign market or by A) Buying an existing firm in the market. B) Finding a franchisee. C) Exporting to the market. D) Signing a licensing agreement. Show Answer Correct Answer: A) Buying an existing firm in the market. 9. Which of the following is NOT an importance of the Business Environment? A) Enables identifying business opportunities. B) Helps in tapping useful resources. C) Increases uncertainty and confusion. D) Helps in improving performance. Show Answer Correct Answer: C) Increases uncertainty and confusion. 10. The Person making the offer can not revoke the offer A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 11. Which of the following is an example of an internal factor? A) Government policies. B) Employees. C) Competitors. D) Central Bank regulations. Show Answer Correct Answer: B) Employees. 12. Do buyers have low bargaining power when there are no substitutes for a product? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: A) Yes. 13. Things within a business that managers can influence and control (as it relates to SWOT) A) Employee Performance. B) Sales Revenue. C) External Factors. D) Internal Factors. Show Answer Correct Answer: D) Internal Factors. 14. Which of the following is a challenge of global business operations? A) Complying with different regulatory and legal environments. B) Managing cultural differences. C) Protecting intellectual property rights. D) All of the above. Show Answer Correct Answer: D) All of the above. 15. What tools can be used for business environment analysis? A) Financial forecasting methods. B) Porter's Five Forces. C) Sales performance metrics. D) Employee satisfaction surveys. Show Answer Correct Answer: B) Porter's Five Forces. 16. Who has control over the factors in the internal environment? A) The government. B) Competitors. C) The business itself. D) Financial institutions. Show Answer Correct Answer: C) The business itself. 17. What does a company's legal environment refer to? A) The company's internal legal policies. B) The legal regulations of the country where the company is located. C) The legal regulations of the country where the company is located and the company's internal legal policies. D) The legal regulations of the countries where the company's customers are located. Show Answer Correct Answer: B) The legal regulations of the country where the company is located. 18. What does the internal environment of a business include? A) Pressures from the economy. B) Pressures from owners, management, employees, and other internal influences. C) Global crisis. D) Legal regulations. Show Answer Correct Answer: B) Pressures from owners, management, employees, and other internal influences. 19. What is the first step to take during a fire emergency in the workplace? A) Gather your belongings. B) Alert coworkers and follow the evacuation plan. C) Attempt to extinguish the fire yourself. D) Call your supervisor. Show Answer Correct Answer: B) Alert coworkers and follow the evacuation plan. 20. Competition helps create a healthy society by: A) A creating new jobs. B) B. increasing the money supply. C) C. making new government regulations. D) D. replacing small businesses with large businesses. Show Answer Correct Answer: A) A creating new jobs. 21. It is an association of small producers and consumers who come together voluntarily to form a business which they own, manage, and patronize. A) Corporation. B) Cooperatives. C) Partnership. D) None of the above. Show Answer Correct Answer: B) Cooperatives. 22. ..... environment consists of economic conditions in the market, economic policies of the Government and economic system of the country. A) Political. B) Socio-cultural. C) Economic. D) Legal. Show Answer Correct Answer: C) Economic. 23. Which of the following statements is TRUE about the external business environment? A) It is entirely controllable by the organization. B) It includes only economic factors. C) It consists of factors beyond the control of the business. D) It does not affect the decision-making process. Show Answer Correct Answer: C) It consists of factors beyond the control of the business. 24. Which of the following practices in organisation will lead to fairness issue among staff? A) All Housekeeper should perform 12 credits room cleaning. B) Operator job specification is open for diabled applicant. C) All carrying tasks should be perform by male staff. D) Staff Uniform deposit charge is based on departmental uniform. Show Answer Correct Answer: C) All carrying tasks should be perform by male staff. 25. Are companies unaffected by changes in labor laws? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: B) No. ← 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