This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 3 Business Environment – Quiz 50 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 3 Business Environment Quiz 50 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A company's core competencies are part of its: A) Opportunities in SWOT analysis. B) Strengths in SWOT analysis. C) External environment. D) PESTLE analysis. Show Answer Correct Answer: B) Strengths in SWOT analysis. 2. Retailing occurs wherever goods are: A) A researched and designed. B) B. created or manufactured. C) C. traded or exchanged for other goods. D) D. sold to consumers or the ultimate customer. Show Answer Correct Answer: D) D. sold to consumers or the ultimate customer. 3. How does technology affect a business's customers? A) It influences what they want and need. B) It distracts them from making informed buying decisions. C) It makes them spend more money. D) It emphasizes certain cultural differences. Show Answer Correct Answer: A) It influences what they want and need. 4. What impact do social factors have on the business environment? A) They can influence consumer behavior and brand perception. B) They only affect employee relations. C) They are only relevant to non-profit organizations. D) They have no effect on business operations. Show Answer Correct Answer: A) They can influence consumer behavior and brand perception. 5. Trade restrictions have just been lifted, allowing your company to expand trade globally, A) Political Factor. B) Economic Factor. C) Social Factor. D) Technological Factor. Show Answer Correct Answer: A) Political Factor. 6. INDIA comes under? A) Market economy. B) Mixed Econmoy. C) Planned economy. D) None of the above. Show Answer Correct Answer: B) Mixed Econmoy. 7. What are internal environmental factors? A) Factors like value system, mission, and human resources. B) Only external factors affecting business. C) Market trends and customer preferences. D) Government regulations and policies. Show Answer Correct Answer: A) Factors like value system, mission, and human resources. 8. How to prepare yourself for the future? A) Develop new skillsets. B) Watch Netflix and chill. C) Learn & not implement. D) Focus only on one goal. Show Answer Correct Answer: A) Develop new skillsets. 9. Complete awareness and understanding of business environment is also known as: A) Environment checking. B) Environment capturing. C) Environment scanning. D) Environment planning. Show Answer Correct Answer: C) Environment scanning. 10. It is rumored that President Ramaphosa is going to fire the Finance minister. Under which of the PESTLE factors will this fall? A) Political. B) Economic. C) Social. D) Legislative. Show Answer Correct Answer: A) Political. 11. What is the role of the government in capitalism? A) Government controls the prices. B) Government has no role. C) Government decides production activities. D) Government works for social welfare. Show Answer Correct Answer: B) Government has no role. 12. PickMe partnering with Uber Eats for promotions is an example of: A) Competitors. B) Strategic Partners. C) Regulators. D) Suppliers. Show Answer Correct Answer: B) Strategic Partners. 13. What is the most important job of the WTO? A) Resolve trade disputes. B) Set oil prices. C) Support developing countries. D) Decide on border disputes. Show Answer Correct Answer: A) Resolve trade disputes. 14. What is the primary characteristic of a monopoly? A) One seller controls the market. B) Easy entry and exit from the market. C) Many sellers and buyers. D) Products are identical. Show Answer Correct Answer: A) One seller controls the market. 15. Competitive rivalry will be high if: A) The industry is fragmented. B) There are a few strong players in the industry. C) There is a high degree of differentiation. D) The industry is in its infancy. Show Answer Correct Answer: B) There are a few strong players in the industry. 16. How can legal factors influence business decisions? A) Legal factors have no impact on marketing strategies. B) Legal factors influence business decisions by dictating compliance, operational practices, and risk management. C) Legal factors primarily influence product design. D) Legal factors only affect employee morale. Show Answer Correct Answer: B) Legal factors influence business decisions by dictating compliance, operational practices, and risk management. 17. INdia continues to be a lower-middle-income country along with 46 others, while Sri Lanka has climbed to the upper-middle-income group for the fiscal year (FY) 2020, according to the World Bank's classification of countries by income levels, released on July 1, 2019.Identify the related dimensions of business environment. A) Social. B) Technological. C) Economic. D) Political. Show Answer Correct Answer: C) Economic. 18. Influencing the supervisory body does not include: A) Auditing. B) Following regulations. C) Bribery. D) Lobbying. Show Answer Correct Answer: C) Bribery. 19. What is a marketing strategy? A) A plan to reduce costs. B) A way to manage internal resources. C) A plan of action to achieve marketing goals. D) A method to influence suppliers. Show Answer Correct Answer: C) A plan of action to achieve marketing goals. 20. AI, robotics, automated machines and social media are the result of advancement in A) Natural environment. B) Demographic environment. C) Cultural environment. D) Technological environment. Show Answer Correct Answer: D) Technological environment. 21. Explain the functions of the executive in business regulation. A) Policy development, compliance oversight, stakeholder engagement, and strategic decision-making. B) Product development and design. C) Customer service and support. D) Market analysis and forecasting. Show Answer Correct Answer: A) Policy development, compliance oversight, stakeholder engagement, and strategic decision-making. 22. According to the Indian Constitution A) All are equal before law. B) Equals are equal. C) First among equals. D) None of these. Show Answer Correct Answer: A) All are equal before law. 23. Which of the following is an Australian franchise? A) Oporto. B) Aesop. C) Krispy Kreme. D) The Coffee Club. Show Answer Correct Answer: B) Aesop. 24. How do businesses contribute to community development? A) Businesses have no impact on local culture or social initiatives. B) Businesses contribute to community development by creating jobs, supporting local economies, and engaging in philanthropy. C) Businesses only contribute by paying taxes to the government. D) Businesses primarily focus on maximizing profits without community involvement. Show Answer Correct Answer: B) Businesses contribute to community development by creating jobs, supporting local economies, and engaging in philanthropy. 25. A business can get adequate stock and good prices from its supplier. We call this ..... A) Power of supplier. B) Power of seller. C) Power of buyer. D) Rivalry in the market. Show Answer Correct Answer: A) Power of supplier. ← 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