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Monday, February 26, 2018

Business Studies Objective Type Questions

CHAPTER – 3: BUSINESS ENVIRONMENT
1. What is the main objective of FEMA?
Ans: To facilitate external trade and payments

2. Why it is said that “Business Environment is a Relative Concept”.
Ans: Business environment is a relative concept since it differs from country to country and even region to region.

3. Which sector of the Indian economy was given greater importance after independence?
Ans: Public Sector

4. What is business environment?                                         
Ans: It refers to the sum total of all individuals, institution & other forces that are outside the control of business enterprise but that may affect its performance.

5. Mention two element of political environment?
Ans: (a) Political ideology & practices of the ruling party. (b). Nature of relationship of our country with foreign countries.

6. Mention any two elements of social environment?
Ans: (a) Birth & death rates. (b) Concern with quality of life.

7. Give two changes introduced in industrial policy of July 1991?

Ans: (a.) Abolition of industrial licensing. (b) Dereservation of industries for public sector.

8. What is privatization?
Ans: Privatization may be defined as the transfer of ownership & control from the public sector to Private sector.

9. What is Globalisation?
Ans: Globalisation means integrating our economy with world economy.

10. Name two elements of technological environment?
Ans: 1.Recent technological. 2. Advances in computers & electronics.

11. Which environment prohibits the advertisement of alcoholic beverages?                     
Ans: legal Environment

12. Which economic policy of the Indian Government initiated globalisation?                    
Ans: Industrial Policy 1991.

13. What is Social Environment? Give an example of social environment.
And: Social environment describes characteristics of the society in which the organization exists. For example, reservation in jobs for minorities.

14. Name the Act that protects the interest of consumers in India.
Ans: Consumer Protection Act, 1986

15. In which year the World Trade Organisation came into being?
Ans: 1-1-1995

16. The Information Technology Act. 2002 comes under what type of environment?
Ans: Legal Environment

17. Give two examples of marketing intermediaries.
Ans: Wholesalers and Retailers

18. What is the name of the economy where both public and private sectors co-exist?
Ans: Mixed Economy

19. Which act aims at controlling production, supply and distribution of essential commodities? 
Ans: Essential Commodities Act, 1955.

20. Under which environmental factor does fiscal policy fall?
Ans: Economic Environment

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