This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Business Studies Chapter 3 Business Environment – Quiz 8 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Business Studies Chapter 3 Business Environment Quiz 8 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which factor of the External Operating Environment is affected when a rival business makes changes to its product or pricing? A) Customers. B) Competitors. C) Suppliers. D) Interest Groups. Show Answer Correct Answer: B) Competitors. 2. An increase in the inflation rate affects businesses by: A) Reducing cost of production. B) Increasing cost of goods and services. C) Reducing competition. D) Lowering interest rates. Show Answer Correct Answer: B) Increasing cost of goods and services. 3. Which macro environmental factors impact the level of consumer confidence and spending due to inflation and interest rates? A) Socio-Cultural Factors. B) Environmental Factors. C) Economic Factors. D) Legal Factors. Show Answer Correct Answer: C) Economic Factors. 4. When did government of India make an announcement regarding demonetisation of rs.500 and Rs.1000 currency notes? A) November 8, 2016. B) November 6, 2016. C) November 9, 2016. D) November 5, 2016. Show Answer Correct Answer: A) November 8, 2016. 5. What is environmental scanning in the context of tourism? A) Environmental scanning in tourism is the process of analyzing external factors that affect the industry. B) A technique for managing tourist behavior. C) A method for promoting tourism destinations. D) A strategy for increasing hotel occupancy. Show Answer Correct Answer: A) Environmental scanning in tourism is the process of analyzing external factors that affect the industry. 6. What is a want that can be satisfied by spending money to consume a good, service, or leisure activity? A) A economic. B) B. limited. C) C. noneconomic. D) D. unlimited. Show Answer Correct Answer: A) A economic. 7. Last five year plan period is A) 12th 2012-2017. B) 13th 2017-2022. C) 11th 2007-2012. D) None of these. Show Answer Correct Answer: A) 12th 2012-2017. 8. Which of the following best describes the term 'trend' with regards to societal attitudes? A) A decline in customer awareness of the negative contributions of large businesses to society. B) The bottom line of a business's financial statements. C) The general direction in which people's attitudes or behaviour in society is developing or changing. D) The boycotting of a company's products. Show Answer Correct Answer: C) The general direction in which people's attitudes or behaviour in society is developing or changing. 9. Micro-environment includes all of the following EXCEPT: A) Customers. B) Suppliers. C) Technological innovations. D) Trade unions. Show Answer Correct Answer: C) Technological innovations. 10. Demonetisation had direct impact on A) Social Enviornment. B) Political Environment. C) Economic Environment. D) None of the above. Show Answer Correct Answer: C) Economic Environment. 11. An aging population, changes in family structure, lifestyle changes, societal trends, higher education levels, diversity in the workplace are examples of which macro environmental factors? A) Socio-Cultural Factors. B) Environmental Factors. C) Economic Factors. D) Legal Factors. Show Answer Correct Answer: A) Socio-Cultural Factors. 12. Which of the following EU legal documents are binding exclusively on those states, companies or individuals to whom they are addressed? A) Decisions. B) Regulations. C) Recommendations. D) Directives. Show Answer Correct Answer: A) Decisions. 13. Which of the following would NOT be a support service generally provided by an accountant? A) Lodging of BAS statements. B) Seeking advice regarding taxation issues. C) Advice on registering intellectual property. D) Lodging income tax returns to the ATO. Show Answer Correct Answer: C) Advice on registering intellectual property. 14. It is a form of business organizations usually owned by one person, usually, the individual who has day-to-day responsibility for running the business. A) Partnership. B) Corporation. C) Incorporation. D) Sole Proprietorship. Show Answer Correct Answer: D) Sole Proprietorship. 15. Globalization is encouraged by A) Internet. B) Mobile phones. C) Computer. D) None of these. Show Answer Correct Answer: A) Internet. 16. Which of the following is a business function? A) Vision. B) Mission. C) Goals and objectives. D) Purchasing. Show Answer Correct Answer: D) Purchasing. 17. Great communication skills and analytical abilities is an example of a type of A) Strength. B) Weakness. C) Opportunity. D) Threat. Show Answer Correct Answer: A) Strength. 18. Privatization implies reduction in the role of ..... sector A) Public. B) Private. C) Foriegn. D) None of the above. Show Answer Correct Answer: A) Public. 19. Which of the following is an example of an internal factor in the business environment? A) Technological advancements. B) Economic conditions. C) Organizational culture. D) Government regulations. Show Answer Correct Answer: C) Organizational culture. 20. How often should fire drills be conducted in a low risk workplace? A) Once a year. B) Twice a year. C) Quarterly. D) Monthly. Show Answer Correct Answer: B) Twice a year. 21. What does the law of supply indicate? A) Supply increases as price increases. B) Supply remains constant regardless of price. C) Supply increases as price decreases. D) Supply decreases as price increases. Show Answer Correct Answer: A) Supply increases as price increases. 22. NDC stands for ..... A) National Development Corporation. B) National Defense company. C) National Development Company. D) National Development council. Show Answer Correct Answer: D) National Development council. 23. A company's product experienced a sudden increase in popularity due to a successful marketing campaign, resulting in a higher demand. Which of the following factors is MOST directly influencing this change in demand? A) A decrease in production costs. B) An increase in the price of a substitute good. C) An improvement in product quality. D) A shift in consumer preferences. Show Answer Correct Answer: D) A shift in consumer preferences. 24. New Gear studied trends in the marketplace to price their jerseys. There was an abundance of jerseys remaining after meeting the demand creating which market condition? A) A equilibrium. B) B. rationing. C) C. shortage. D) D. surplus. Show Answer Correct Answer: D) D. surplus. 25. Which of the following is NOT a micro environmental factor of business? A) Customers. B) Competitors. C) Government Policies. D) Suppliers. Show Answer Correct Answer: C) Government Policies. ← 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 9Class 12 Business Studies Chapter 3 Business Environment Quiz 10Class 12 Business Studies Chapter 3 Business Environment Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books