This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 3 Business Environment – Quiz 45 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 3 Business Environment Quiz 45 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Business Environment helps in: A) Image Building. B) On Job Training. C) Business Proposal. D) All of the above. Show Answer Correct Answer: A) Image Building. 2. According to the Australian Consumer Law (ACL), customers have the right to: A) Higher product prices. B) Guidelines for business interactions, quality goods and services, and quality service. C) Free products. D) Control business operations. Show Answer Correct Answer: B) Guidelines for business interactions, quality goods and services, and quality service. 3. As part of regulations to be followed by advertisers, the advertisement for a new brand of baby food for infants provides important information for potential buyers that it is "Not recommended for infants under the age of four months" . Which dimension of the business environment is highlighted in the above statement? A) Social. B) Legal. C) Political. D) Economic. Show Answer Correct Answer: B) Legal. 4. What are the assessments for the GBE module? A) Presentation on internal factors. B) Exam on economic policies. C) CW1 and CW2 assignments. D) Team-building activity. Show Answer Correct Answer: C) CW1 and CW2 assignments. 5. What economy is based on public or governmental ownership of the production and distribution of goods? A) A capitalist. B) B. mixed. C) C. socialist. D) D. traditional. Show Answer Correct Answer: C) C. socialist. 6. In Malaysia, the supreme head of state is the: A) Prime Minister. B) Yang Dipertuan Agung. C) Sultan of each state. D) Yam Tuan Besar. Show Answer Correct Answer: B) Yang Dipertuan Agung. 7. How does government policy impact the growth of small scale industries in India? A) By imposing strict regulations. B) By providing tax incentives. C) By limiting market access. D) By discouraging foreign partnerships. Show Answer Correct Answer: B) By providing tax incentives. 8. Monetary & Fiscal Policy are part of which environment- A) Economic. B) Ecological. C) Legal. D) Political. Show Answer Correct Answer: A) Economic. 9. What percentage of the money in circulation became invalid after demonetisation? A) 76%. B) 86%. C) 68%. D) 67%. Show Answer Correct Answer: B) 86%. 10. A magazine article is an example of? A) Primary research. B) Knowledge. C) Secondary research. D) Ethics. Show Answer Correct Answer: C) Secondary research. 11. What is a common characteristic of private sector business organisations? A) They all have the same size and structure. B) They exist to generate wealth for their owners. C) They are all non-profit organisations. D) They are all government-owned. Show Answer Correct Answer: B) They exist to generate wealth for their owners. 12. A project manager is managing a project that must comply with both local and international regulations. What is the best approach to ensure compliance? A) Focus on complying with local regulations only. B) Develop a compliance management plan that addresses both local and international regulations. C) Follow the less stringent regulation to save costs. D) Rely on the legal department to handle all compliance issues. Show Answer Correct Answer: B) Develop a compliance management plan that addresses both local and international regulations. 13. What are the challenges businesses face in a global market? A) Cultural differences, regulatory compliance, currency fluctuations, supply chain complexities, and local competition. B) Uniform pricing strategies across all regions. C) Simplified supply chain management. D) Increased market share through local partnerships. Show Answer Correct Answer: A) Cultural differences, regulatory compliance, currency fluctuations, supply chain complexities, and local competition. 14. Are tangible assets like intellectual property irrelevant to a company's strengths? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: B) No. 15. Negative events which an organization or company has no control over are: A) A debits. B) B. credits. C) C. speculative risks. D) D. pure business risks. Show Answer Correct Answer: D) D. pure business risks. 16. When you make a purchase after watching video by Youtuber regarding the product, you are influenced by ..... A) Primary reference group. B) Secondary reference group. C) Society influence. D) None of the above. Show Answer Correct Answer: B) Secondary reference group. 17. Liberalization means A) Free trade. B) Easing restrictions on business. C) New rules and regulations. D) None of these. Show Answer Correct Answer: B) Easing restrictions on business. 18. Which of the following is a feature of a weak economic climate? A) High levels of consumer spending. B) Low levels of consumer spending. C) High levels of employment. D) Low levels of unemployment. Show Answer Correct Answer: B) Low levels of consumer spending. 19. How does social media impact business marketing strategies? A) Social media is primarily used for personal communication, not marketing. B) Social media significantly influences business marketing strategies by enabling direct customer engagement, targeted advertising, and real-time feedback. C) Social media has no effect on business marketing strategies. D) Social media only increases costs for businesses. Show Answer Correct Answer: B) Social media significantly influences business marketing strategies by enabling direct customer engagement, targeted advertising, and real-time feedback. 20. The highest level of involvement in international business is A) Creating a wholly owned subsidiary. B) Franchising. C) Licensing. D) Establishing a multinational corporation. Show Answer Correct Answer: D) Establishing a multinational corporation. 21. Gasoline prices increased 30 cents per gallon. Raylee continued to purchase gasoline because her demand and need to commute to work had not changed. This is an example of what type of demand? A) A complementary. B) B. discretionary. C) C. elastic. D) D. inelastic. Show Answer Correct Answer: D) D. inelastic. 22. How do cultural factors shape the business environment? A) Cultural factors are irrelevant to market trends. B) Cultural factors only affect employee satisfaction. C) Cultural factors shape the business environment by influencing consumer behavior, communication styles, and business practices. D) Cultural factors have no impact on business decisions. Show Answer Correct Answer: C) Cultural factors shape the business environment by influencing consumer behavior, communication styles, and business practices. 23. Which statement best describes a private sector organisation? A) Funded by donations. B) Owned by shareholders or individuals and aims to make profit. C) Run by the government. D) Provides services only. Show Answer Correct Answer: B) Owned by shareholders or individuals and aims to make profit. 24. Positive factors that are not within the control of the business. A) Strength. B) Weaknesses. C) Opportunities. D) Threat. Show Answer Correct Answer: C) Opportunities. 25. What is one reason why organisations are needed? A) To increase competition. B) To share skills and knowledge. C) To reduce employment. D) To limit innovation. Show Answer Correct Answer: B) To share skills and knowledge. ← 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