This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 3 Business Environment – Quiz 72 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 3 Business Environment Quiz 72 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is NOT a need for employees in their work environment? A) Proper training. B) Safe and rewarding environment. C) Increased taxes. D) Equal opportunities. Show Answer Correct Answer: C) Increased taxes. 2. A project manager is overseeing a project that may be affected by a newly proposed industry standard. What should the project manager do to address this potential issue? A) Monitor the development of the industry standard and plan for potential impacts. B) Immediately modify the project to comply with the proposed standard. C) Ignore the proposed standard until it becomes mandatory. D) Delay the project until the standard is officially released. Show Answer Correct Answer: A) Monitor the development of the industry standard and plan for potential impacts. 3. What does the "P" in PESTEL stand for? A) Price. B) Political. C) People. D) Product. Show Answer Correct Answer: B) Political. 4. What is a characteristic of Business Environment: A) Business environment is always constant. B) Business environment is unpredictable. C) Business environment factors in all internal aspects of a business. D) Business environment is the same in all areas of the world. Show Answer Correct Answer: B) Business environment is unpredictable. 5. The surrounding condition in which the business operates are called A) Business condition. B) Business contacts. C) Environment. D) Business environment. Show Answer Correct Answer: D) Business environment. 6. Increasing Interdependency Among Nations, Diminishing Effectiveness of National Borders and developing Countries Attitude Toward FDI are examples of Changes in Global Business Environment A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 7. Which of the following best describes consumer confidence? A) How businesses feel about their future in economic terms. B) How consumers feel about their future in economic terms. C) How consumers feel in terms of their body image. D) How consumers feel in social situations. Show Answer Correct Answer: B) How consumers feel about their future in economic terms. 8. Which stakeholder is primarily responsible for implementing change within a business? A) Customers. B) Managers. C) Regulators. D) Financial institutions. Show Answer Correct Answer: B) Managers. 9. Normally growth of a country is measured in terms A) Tax growth. B) GDP growth. C) Revenue growth. D) None of these. Show Answer Correct Answer: B) GDP growth. 10. Monte works for a grocery store that buys food from producers and then sells it to customers. The grocery store is an example of a: A) A builder. B) B. trade industry. C) C. service business. D) D. raw-goods producer. Show Answer Correct Answer: C) C. service business. 11. The global business environment can be classified into the external environment and the internal environment. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 12. The External Macro Environment can be assessed by doing a: A) STEEPLE Analysis. B) SWOT Analysis. C) USP Analysis. D) Cost-Benefit Analysis. Show Answer Correct Answer: A) STEEPLE Analysis. 13. Which feature suggests the business environment keeps changing? A) Continuous. B) Dynamic. C) Interrelatedness. D) Pervasive. Show Answer Correct Answer: B) Dynamic. 14. Which of the following is an example of an external factor in SWOT analysis? A) Company's strong brand reputation. B) High employee turnover rate. C) Emerging market trends. D) Efficient supply chain management. Show Answer Correct Answer: C) Emerging market trends. 15. The trend of health and fitness has created demand for gyms, bottled mineral water and food suppliments. This is an exapmle of which environment ..... A) Economic. B) Social. C) Legal. D) Technological. Show Answer Correct Answer: B) Social. 16. What is the role of technology in the business environment? A) To increase government control. B) To provide new methods of production. C) To limit competition. D) To create legal regulations. Show Answer Correct Answer: B) To provide new methods of production. 17. Business environment consists of various forces such as social, political, legal and technological conditions which have impact on all business enterprises. Identify the forces being discussed here: A) External Forces. B) Specific Forces. C) Dynamic Forces. D) General Forces. Show Answer Correct Answer: D) General Forces. 18. What is the primary focus of the micro-environment? A) Global economic trends. B) Internal business operations. C) Regulatory compliance. D) External market conditions. Show Answer Correct Answer: B) Internal business operations. 19. 2) Identify out of the LPG, which one is highlighted:Lifting of unnecessary controls over the firms. A) Liberlization. B) Privatization. C) Globalization. D) None. Show Answer Correct Answer: A) Liberlization. 20. In a SWOT analysis, which factor is considered a business opportunity? A) Declining customer interest in a product. B) A competitor going out of business. C) A legal dispute within the company. D) High employee turnover. Show Answer Correct Answer: B) A competitor going out of business. 21. Which of the following headings does not highlight the importance of business environment? A) Tapping useful resources. B) Coping with rapid changes. C) Improving performance. D) Promoting innovative ideas. Show Answer Correct Answer: D) Promoting innovative ideas. 22. Can a business with limited technical expertise improve its operations by outsourcing to tech specialists? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: A) Yes. 23. P for the PESTLE mnemonic stands for A) Political. B) Principal. C) Phenomenon. D) None of the above. Show Answer Correct Answer: A) Political. 24. The Brooks Company produces sneakers and studies trends in the marketplace to price their sneakers. The Brooks Company supplied as many sneakers as consumers demanded to create which market condition? A) A equilibrium. B) B. rationing. C) C. shortage. D) D. surplus. Show Answer Correct Answer: A) A equilibrium. 25. Why should a business know its target demographic? A) To reduce prices. B) To understand customer needs. C) To stop advertising. D) To sell to everyone. Show Answer Correct Answer: B) To understand customer needs. ← 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