This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 3 Business Environment – Quiz 67 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 3 Business Environment Quiz 67 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. In which year WTO was formulated A) 1995. B) 1991. C) 1988. D) 2005. Show Answer Correct Answer: A) 1995. 2. When people from one country/region eat and dress differently from people in another country/region, it is due to differences in A) Political climate. B) Culture. C) Nationalism. D) Infrastructure. Show Answer Correct Answer: B) Culture. 3. A company has a strong brand name, this would be a(n) A) Strength. B) Weakness. C) Opportunity. D) Threat. Show Answer Correct Answer: A) Strength. 4. Which of the following are all examples of leakages from the circular flow of income model? A) Expenditure, savings, taxation. B) Exports, taxation, investment. C) Savings, taxation, imports. D) Exports, savings, investment. Show Answer Correct Answer: C) Savings, taxation, imports. 5. Is adopting new technologies unnecessary for a business to remain competitive in a tech-driven market? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: B) No. 6. What are some benefits of understanding your marketing environment? A) All of the above. B) Aiding you in assessing current trends. C) Assisting you in understanding the company's competitors and the market. D) Helping you determine future marketing plans. Show Answer Correct Answer: A) All of the above. 7. Do favorable exchange rates create opportunities for businesses engaging in international trade? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: A) Yes. 8. Fundamental duties are given in A) Article 31 A. B) Article 41 A. C) Article 51 A. D) Article 21 A. Show Answer Correct Answer: C) Article 51 A. 9. What does the political environment of business refer to? A) The influence of government policies and political stability. B) Only the economic factors affecting business. C) The social aspects of the business environment. D) The technological advancements in the industry. Show Answer Correct Answer: A) The influence of government policies and political stability. 10. The socialization process involved the following EXCEPT A) Changing roles of family members. B) Changing composition of families. C) Growth of nuclear and cellular families. D) Greater diversity of society. Show Answer Correct Answer: D) Greater diversity of society. 11. Governmental agencies, laws and pressure groups are elements of A) Legal environment. B) Natural environment. C) Cultural environment. D) Demographic environment. Show Answer Correct Answer: A) Legal environment. 12. Ronald is worried about adjusting in his new company. He is especially concerned about his ability to cope with the 'deeper culture'. What aspects of culture should Ronald look out for so that he is better able to understand the deeper culture of the new company? A) Workplace ambiance and dress codes. B) Company systems, policies and processes. C) Shared values and beliefs as well as traditions. D) Organisational structures and formal reporting relationships. Show Answer Correct Answer: C) Shared values and beliefs as well as traditions. 13. What does the business environment encompass? A) Only external factors. B) Only internal factors. C) Both internal and external factors. D) None of the above. Show Answer Correct Answer: C) Both internal and external factors. 14. It refers to an individual's ability to favorably receive and adjust to an unfamiliar way of doing things. A) Cultural Difference. B) Cultural Intelligence. C) Culture Different. D) Culture Intelligence. Show Answer Correct Answer: B) Cultural Intelligence. 15. A PEST Analysis examines which two external SWOT components A) Strengths & Threats. B) Opportunity & Weakness. C) Opportunity & Threats. D) Strengths & Weakness. Show Answer Correct Answer: C) Opportunity & Threats. 16. When the government raises taxes, what does it take out of circulation? A) Money. B) Credit. C) People. D) Jobs. Show Answer Correct Answer: A) Money. 17. Foreign Investment includes ..... A) Foreign Direct Investment. B) Portfolio Investment. C) Both of the above. D) None of the above. Show Answer Correct Answer: C) Both of the above. 18. Why do organisations set ethical objectives? A) All of the choices. B) To build customer loyalty. C) To create a positive image and work environment. D) To reduce the risk of legal damages. Show Answer Correct Answer: A) All of the choices. 19. What is consent under the Indian Contract Act, 1872? A) When acceptance of proposal is made by the party to whom the proposal is made. B) When the acceptance is made by another person other than the person to whom the proposal is made. C) When they agree upon the same thing in the same sense. D) When both the parties agree upon a thing in the way it is understood by them. Show Answer Correct Answer: C) When they agree upon the same thing in the same sense. 20. Important stakeholders in micro environment A) Customers. B) Suppliers. C) Employees. D) All of these. Show Answer Correct Answer: D) All of these. 21. Identify the social factors that can influence a business. A) Cultural norms, demographics, lifestyle changes, education levels, social trends, consumer behavior. B) Economic policies. C) Environmental regulations. D) Technological advancements. Show Answer Correct Answer: A) Cultural norms, demographics, lifestyle changes, education levels, social trends, consumer behavior. 22. Which of the following best defines the business environment? A) The sum total of internal factors only. B) The external factors affecting business activities only. C) Both internal and external factors influencing business operations. D) Government regulations affecting businesses. Show Answer Correct Answer: C) Both internal and external factors influencing business operations. 23. Is the following statement true or false? The Agile Manifesto states, "We value individuals and interaction over process and tools?" A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 24. Introducing new employment regulations protecting disabled workers would be a ..... A) Political change. B) Environmental change. C) Legal change. D) Economic change. Show Answer Correct Answer: C) Legal change. 25. Which of the following is a true statement about the social factor of lifestyle and fashion trends: A) They influence retail businesses only. B) They are more important than economic trends. C) They do not affect customer needs. D) They change quite frequently. Show Answer Correct Answer: D) They change quite frequently. ← 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