This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 3 Business Environment – Quiz 30 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 3 Business Environment Quiz 30 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following best indicates the importance of business environment? A) Employing new workers. B) Result-oriented performance. C) Coping with rapid changes. D) Passing of new criminal law. Show Answer Correct Answer: D) Passing of new criminal law. 2. The mission is part of the internal environment: A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 3. Which of the following makes up the internal environment? A) Owners/managers, Employees, Organisational structure & Organisational culture. B) Customers, Competitors, Suppliers & Interest Groups. C) Socio-Cultural, Technological, Economic, Environmental, Political, Legal, Ethical. D) Operations, Finance, Marketing, Human Resources. Show Answer Correct Answer: A) Owners/managers, Employees, Organisational structure & Organisational culture. 4. Any kind of external devices, like compact discs (CD's) for computer, have become obsolete. Google, with its Google Drive service, Apple with its iCloud offering, enables the users store documents, photos, music and movies on web-based servers. Identify the feature of business environment being described in the above lines. A) Relativity. B) Interrelatedness. C) Dynamic nature. D) Uncertainty. Show Answer Correct Answer: D) Uncertainty. 5. What benefit will the business gain if they are advanced in technology? A) Increase lead time. B) Less productive. C) Increase efficiency. D) The low initial cost to start up. Show Answer Correct Answer: C) Increase efficiency. 6. What is the micro-environment? A) The external business environment. B) The internal business environment. C) The global business environment. D) The competitive environment. Show Answer Correct Answer: B) The internal business environment. 7. Functions and processes to create and maintain an overall integrated governance structure and framework (a) A) Risk. B) Communications. C) Performance. D) A. Alignment. Show Answer Correct Answer: D) A. Alignment. 8. Which of the following is an example of an external influence? A) Company policies. B) Owner's working style. C) Government regulations. D) Employee satisfaction. Show Answer Correct Answer: C) Government regulations. 9. In Ava's country, many skilled engineers and doctors are moving abroad for better job opportunities. This situation is an example of A) Consumers spending too much time shopping online. B) People who speak different languages trying to communicate with one another. C) Businesses outsourcing jobs to other countries. D) A country losing talented employees to better opportunities in other countries. Show Answer Correct Answer: D) A country losing talented employees to better opportunities in other countries. 10. The new economic policy was announced in the year ..... A) 1990. B) 1991. C) 1992. D) None of the above. Show Answer Correct Answer: B) 1991. 11. How does the increase of global business operations affect technological innovation? A) It encourages businesses to invest in new technologies. B) It discourages businesses from investing in new technologies. C) It does not have a significant impact on technological innovation. D) All of the above. Show Answer Correct Answer: D) All of the above. 12. Priya is a diplomat representing her country in international relations. She is considering implementing retorsions to address a recent trade dispute with another nation. What is the purpose of retorsions in this context? A) To influence another state's actions in furtherance of national-interest goals. B) To establish new trade agreements. C) To promote international cooperation. D) To provide humanitarian aid. Show Answer Correct Answer: A) To influence another state's actions in furtherance of national-interest goals. 13. Since Amie deals with people from many different countries, she attempts to become sensitive to differences in their customs and traditions. Amie is developing A) Economic growth. B) Cultural intelligence. C) Social responsibility. D) Competition. Show Answer Correct Answer: B) Cultural intelligence. 14. Party making the offer is called A) Offeror. B) Offeree. C) All the above. D) None of the above. Show Answer Correct Answer: A) Offeror. 15. List the main types of business environment. A) Internal environment, external environment (macro and micro), economic, social, technological, legal, political. B) Natural environment. C) Cultural environment. D) Digital environment. Show Answer Correct Answer: A) Internal environment, external environment (macro and micro), economic, social, technological, legal, political. 16. A breakthrough in renewable energy technology leads to cheaper and more efficient solar panels. A) Technological. B) Economic. C) All the above. D) None of the above. Show Answer Correct Answer: A) Technological. 17. Which of the following is a characteristic of modern business? A) Static in nature. B) Technology-driven. C) Focus solely on profit. D) Limited to local markets. Show Answer Correct Answer: B) Technology-driven. 18. Businesses that both sell All Gold Tomato sauce are an example of A) Indirect competition. B) Direct competition. C) Suppliers. D) A monopoly. Show Answer Correct Answer: B) Direct competition. 19. How does the Consumer Protection Act benefit consumers? A) It eliminates all forms of advertising. B) The Consumer Protection Act benefits consumers by safeguarding their rights and providing mechanisms for redress against grievances. C) It allows consumers to ignore product defects. D) It mandates higher prices for all goods. Show Answer Correct Answer: B) The Consumer Protection Act benefits consumers by safeguarding their rights and providing mechanisms for redress against grievances. 20. Which sector is made up of consumers? A) Financial. B) Government. C) Household. D) Overseas. Show Answer Correct Answer: C) Household. 21. Ali and Monica are discussing how countries can ensure that international laws are followed. What are some methods they might consider for enforcing international law internationally? A) Military intervention and occupation. B) Voluntary compliance and economic or political pressures. C) Ignoring international disputes. D) Only through the United Nations. Show Answer Correct Answer: B) Voluntary compliance and economic or political pressures. 22. Which of the following does not characterise the business environment? A) Uncertainty. B) Employees. C) Relativity. D) Complexity. Show Answer Correct Answer: B) Employees. 23. Disposable income refers A) Gross salary. B) Total income received by an individual. C) Income remaining after deduction of taxes available for spending. D) None of the above. Show Answer Correct Answer: C) Income remaining after deduction of taxes available for spending. 24. Which is not the significance of study the business environment? A) It helps to frame policies. B) It helps to forecast the impact of socio cultural factors. C) It is complex in nature. D) It ensures optimum utilisation of resources. Show Answer Correct Answer: C) It is complex in nature. 25. What is meant by 'adding value'? A) The money a company invests into a new product. B) The difference between the price of the finished product/service and the cost of the inputs involved in making it. C) All the above. D) None of the above. Show Answer Correct Answer: B) The difference between the price of the finished product/service and the cost of the inputs involved in making it. ← 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