This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 3 Business Environment – Quiz 52 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 3 Business Environment Quiz 52 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which one is an example of economic environment? A) Changes in technology. B) Expectation of society. C) Change in exchange rate. D) Change in government's rule and regulation. Show Answer Correct Answer: C) Change in exchange rate. 2. Environment consisting of components sucj as beliefs, traditions is come under which environment A) Legal. B) Economic. C) Social. D) Political. Show Answer Correct Answer: C) Social. 3. Which of the following is a technique used in environmental analysis? A) SWOT Analysis. B) Employee Appraisal. C) Budget Forecasting. D) Inventory Management. Show Answer Correct Answer: A) SWOT Analysis. 4. Why is setting time-bound objectives important? A) To create vagueness. B) To provide a sense of urgency. C) To avoid achievement. D) To discourage employees. Show Answer Correct Answer: B) To provide a sense of urgency. 5. The fundamental set of assumptions, values, and ways of doing things, that has been accepted by most of a company's members is called its ..... A) Rules and Regulations. B) Culture. C) Environment. D) Values. Show Answer Correct Answer: B) Culture. 6. What was the Date of announcement of Demonetization announced by our prime minister Narendra Modi. A) 6thDecember 2017. B) 8th November 2016. C) 9th october 2015. D) 10th january 2015. Show Answer Correct Answer: B) 8th November 2016. 7. Which of the following is not considered as one of the environments of business? A) Internal. B) Macro. C) Operating. D) Operations. Show Answer Correct Answer: D) Operations. 8. How do industry regulators influence the business environment? A) By setting rules and standards that businesses must follow. B) By increasing competition among businesses. C) By providing free resources to businesses. D) By preventing consumers from making complaints. Show Answer Correct Answer: A) By setting rules and standards that businesses must follow. 9. Encompass a wide variety of specific items and objects depending on the nature of the business refer to A) Organizational Resources. B) Human Resources. C) Financial Resources. D) Physical Resources. Show Answer Correct Answer: D) Physical Resources. 10. A steel manufacturing company has experienced steady growth in recent years and thus has increased its pollution levels in violation of environmental laws. Which of the following stakeholder interests have been affected? A) All of the choices. B) Pressure groups. C) Government. D) Media. Show Answer Correct Answer: A) All of the choices. 11. How does the external business environment influence a company's strategy? A) It is only relevant for large corporations. B) It has no impact on strategy. C) It can dictate market opportunities and threats. D) It only affects pricing strategies. Show Answer Correct Answer: C) It can dictate market opportunities and threats. 12. 5) After new economic policy, there is a shift from Production oriented approach to ..... approach. A) Seller. B) Market. C) Social. D) Commercial. Show Answer Correct Answer: B) Market. 13. Statement of Financial Position:Balance Sheet::Statement of Financial Performance: ..... A) Cash Flows. B) Income Statement. C) Owner's Equity. D) None of the above. Show Answer Correct Answer: B) Income Statement. 14. Macro Environment consists of A) Economic Environment. B) Political Environment. C) Social Environment. D) All of the above. Show Answer Correct Answer: D) All of the above. 15. Company images and brand equity is factor affecting business A) Externally. B) Internally. C) Government policy. D) None of the above. Show Answer Correct Answer: A) Externally. 16. Attitude of customers towards innovation, lifestyle, etc, is part of A) Technological Environment. B) Political Environment. C) Legal Environment. D) Social Environmentc. Show Answer Correct Answer: D) Social Environmentc. 17. What do logistics flows include? A) Cash flows only. B) Raw materials and finished products. C) Only work in progress. D) Only cash transactions. Show Answer Correct Answer: B) Raw materials and finished products. 18. Businesses have the most control over the ..... environment A) Micro. B) Market. C) Macro. D) None of the above. Show Answer Correct Answer: A) Micro. 19. What role does the political environment play in business? A) The political environment shapes business operations, regulations, and market conditions. B) The political environment only affects employee morale and not operations. C) The political environment is solely about international relations and trade. D) The political environment has no impact on business strategies. Show Answer Correct Answer: A) The political environment shapes business operations, regulations, and market conditions. 20. Which of the following business would NOT be suited to a shopping centre location? A) A cafe. B) A clothing retailer. C) A manufacturing business. D) A fast-food restaurant. Show Answer Correct Answer: C) A manufacturing business. 21. It deals with the independent verification and examination of accounting records for the purpose of giving credibility to financial statements. A) Cost Accounting. B) Financial Accounting. C) Auditing. D) None of the above. Show Answer Correct Answer: C) Auditing. 22. How do suppliers and customers influence the micro environment of a business? A) By not influencing the operations or sales. B) By affecting its operations, sales, and overall performance. C) By having no impact on the business. D) By only affecting the macro environment. Show Answer Correct Answer: B) By affecting its operations, sales, and overall performance. 23. For the fraudulent act or willful wrong of a sub-agent who had been duly appointed, the sub-agent is A) Responsible to the agent only. B) Responsible to the principal only. C) Responsible to the agent and principal both. D) Responsible to the third party. Show Answer Correct Answer: C) Responsible to the agent and principal both. 24. What is the name for markets with only a few sellers, such as the markets for automobiles, pharmaceuticals, or oil? A) A oligopolies. B) B. monopolies. C) C. perfect competition. D) D. monopolistic competition. Show Answer Correct Answer: A) A oligopolies. 25. Which element is related to individuals and entities who provide goods and services needed by the firm? A) Customer. B) Supplier. C) Competitor. D) Pressure group. Show Answer Correct Answer: B) 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