This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 3 Business Environment – Quiz 74 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 3 Business Environment Quiz 74 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is NOT a characteristic of the business environment? A) Dynamic nature. B) Static and unchanging. C) Complex and multifaceted. D) Uncertain and unpredictable. Show Answer Correct Answer: B) Static and unchanging. 2. Which macro environmental factors affect the operation of a business and include all regulations and laws imposed by the Government such as Consumer Law and Health & Safety Law? A) Political Factors. B) Environmental Factors. C) Economic Factors. D) Legal Factors. Show Answer Correct Answer: D) Legal Factors. 3. Just take the universe, subtract from it the subset that represents the organisation, and the remainder is A) Environment. B) Organisation. C) Universe. D) You. Show Answer Correct Answer: A) Environment. 4. 'Surface culture' is seen in: A) Attitudes, perceptions and feelings employees have about their work. B) Workplace ambiance, dress code, systems, policies, processes, procedures, structure etc. C) Shared values and beliefs, attitudes towards authority, competition, underlying assumptions, traditions etc. D) Shared system of sounds, written signs, gestures that convey meaning to members of a culture. Show Answer Correct Answer: B) Workplace ambiance, dress code, systems, policies, processes, procedures, structure etc. 5. It includes all those activities and interventions that aim at smooth supply of credit to the business and a boost to trade and industry A) Fiscal policy. B) Monetary policy. C) Both. D) None. Show Answer Correct Answer: B) Monetary policy. 6. What does the 'A' stand for in SMART goals? A) Achievable. B) Ace. C) Awesome. D) Any. Show Answer Correct Answer: A) Achievable. 7. What does the micro environment refer to? A) Specific controllable factors. B) External uncontrollable factors. C) Global market trends. D) Government regulations. Show Answer Correct Answer: A) Specific controllable factors. 8. Another name for Intermediaries is ..... A) Supplier. B) Consumer. C) Middle Man. D) Regulator. Show Answer Correct Answer: C) Middle Man. 9. A new government policy imposes stricter regulations on environmental protection, impacting manufacturing processes. A) Natural. B) Political. C) All the above. D) None of the above. Show Answer Correct Answer: B) Political. 10. Which of the following represents a Monopoly? A) A farmer produces green beans for sale at a market. B) A small number of cereal companies produce most of the cereal in the market. C) A local water company is the sole provider of water for a small town. D) A dry cleaner specialises in environmentally friendly cleaning methods. Show Answer Correct Answer: B) A small number of cereal companies produce most of the cereal in the market. 11. In 1890, Congress passed a law that prevents monopolies from forming and hinders price fixing. What law is this? A) A Clayton Act. B) B. Robinson-Patman Act. C) C. Sherman Antitrust Act. D) D. Celler-Kefauver Antimerger Act. Show Answer Correct Answer: C) C. Sherman Antitrust Act. 12. Why is survival in business compared to staying relevant? A) Because businesses should always remain unchanged. B) Because businesses must continuously adapt to their environment. C) Because ignoring changes leads to long-term success. D) Because competition does not affect businesses. Show Answer Correct Answer: B) Because businesses must continuously adapt to their environment. 13. Major source of revenue for Indian government is A) Corporation Tax. B) Income Tax. C) GST. D) All of these. Show Answer Correct Answer: D) All of these. 14. 'Twinkle Stars' is a well-known resort for organising parties, especially for children. However, in past 6 months its popularity has reduced considerably as a new resort with better ambience and facilities has opened within its vicinity. Name the related feature of business environment which has inuenced the business of 'Twinkle Stars' adversely A) Totality of external forces. B) Dynamic nature. C) Inter relatedness. D) Uncertainty. Show Answer Correct Answer: B) Dynamic nature. 15. The management values are the part of the ..... environment. A) External. B) Internal. C) Micro. D) Macro. Show Answer Correct Answer: B) Internal. 16. I am concerned with which where I am to establish my business. What Part of the PESTLE analysis am I to look at? A) Political. B) Environmental. C) Legal. D) Technological. Show Answer Correct Answer: B) Environmental. 17. Credits in the financial account of the BoP A) Increase a country's foreign liabilities. B) Increase a country's foreign assets. C) Are matched by equal credits in primary income. D) Are matched by equal debits in primary income. Show Answer Correct Answer: A) Increase a country's foreign liabilities. 18. The opportunity cost is defined as the value of a proposed project selected. Is this statement true or false? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 19. Employees, manager, location and legal business structure are all part of which environment? A) External. B) Operating. C) Macro. D) Internal. Show Answer Correct Answer: D) Internal. 20. Which of the functions does not fall into four main areas of activity of the European Parliament? A) Legislation. B) The budget. C) Supervision of the European Commission. D) Respoding to legislative proposals put forward by the Commission. Show Answer Correct Answer: D) Respoding to legislative proposals put forward by the Commission. 21. Question 4:What is the primary focus of the microenvironment? A) National and international economy. B) Industry regulations. C) Internal operations of a business. D) Direct competition and suppliers. Show Answer Correct Answer: D) Direct competition and suppliers. 22. This simply means that the financial statements should reflect all significant events or facts, which might influence the decisions to be made by any interested party. A) Going Concern Concept. B) Consistency. C) Full Disclosure. D) None of the above. Show Answer Correct Answer: C) Full Disclosure. 23. Which is an example of social environment? A) Money supply. B) Consumer Protection Act. C) Constitution. D) Composition of family. Show Answer Correct Answer: D) Composition of family. 24. ..... environment includes study of population in terms of age, gender, income, occupation, etc. A) Political. B) International. C) Demographic. D) Legal. Show Answer Correct Answer: C) Demographic. 25. How can social factors influence business operations? A) Social factors influence business operations by affecting marketing strategies, product development, and corporate social responsibility. B) Social factors only affect employee salaries. C) Social factors are irrelevant to marketing and product design. D) Social factors have no impact on business operations. Show Answer Correct Answer: A) Social factors influence business operations by affecting marketing strategies, product development, and corporate social responsibility. ← 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