Correct Answer is: Association of South East Asian Nations

Correct Answer is: Corporate Social Responsibility Committee

Correct Answer is: Export Processing Zones

Correct Answer is: Micro, Small and Medium Enterprises

Correct Answer is: Trade related institutions measuring

Correct Answer is: Trade related aspects of intellectual property right

Association of South East Asian Nations

Association of South East American Nations

Association of South East African Nations

Corporate Social Responsibility Committee

Company Social Reforms Committee

Committee for Social Responsibility Commitments

Business Environment MCQ Multiple Choice Questions Answers for Practice

Q: 1. ...........are generally considered as controllable factors

Correct Answer is: Internal factors

Q: 2. ...........are goods undergone manufacturing process and are meant for further processing

Correct Answer is: Work-in-progress

Q: 4. ...........is a part of economic policy of a country

Correct Answer is: All the above

Q: 6. ...........is the process of analyzing the environment for the identification of the factors which impact on the business

Correct Answer is: Environment scanning

Q: 7. ...........Is the technique used to forecast the occurrence of complex environmental events

Correct Answer is: Scenario analysis

Q: 8. ...........refers to the system of moral principles and rules of conduct applied to the business

Correct Answer is: Business ethics

Q: 10. A form of oligopoly where some degree of differentiation exists between products of different firms is

Correct Answer is: Imperfect oligopoly

Q: 11. A mission statement explains...........of a firm

Correct Answer is: All the above

Q: 12. A tool for evaluating how satisfactory a company has discharged its social responsibilities is

Correct Answer is: Social Audit

Q: 13. Ancillarisation means

Correct Answer is: Integration of small scale and large industries

1. ...........are generally considered as controllable factors

Internal factors
External factors
Cost of production
None of these

2. ...........are goods undergone manufacturing process and are meant for further processing

Intermediate goods
semi-finished goods
Work-in-progress
None of the above

3. ...........involves all those activities encompassing the trade in goods and services

Business
Commerce
Economic activity
Trading

4. ...........is a part of economic policy of a country

Industrial policy
Import policy
Export policy
All the above

5. ...........is an organized movement to protect rights and powers of buyers in relation to sellers

Consumerism
Consumer protection Act
MRTP Act
Consumer courts

6. ...........is the process of analyzing the environment for the identification of the factors which impact on the business

Environmental analysis
Environment scanning
Business analysis
Factor analysis

7. ...........Is the technique used to forecast the occurrence of complex environmental events

Scenario analysis
Business forecast
Economic forecast
demand forecast

8. ...........refers to the system of moral principles and rules of conduct applied to the business

Values of Business
Business ethics
Social responsibility
Ethical code of conduct

9. ...........sector contributes more than 70% of world GDP

Agriculture
Service
Automobile
Manufacturing

10. A form of oligopoly where some degree of differentiation exists between products of different firms is

Perfect oligopoly
Imperfect oligopoly
Duopoly
Monopsony

11. A mission statement explains...........of a firm

Philosophy
Scope
Tasks
All the above

12. A tool for evaluating how satisfactory a company has discharged its social responsibilities is

Social Audit
Company audit
Internal check
Internal audit

13. Ancillarisation means

Development of supporting industries
Integration of small scale and large industries
Setting industries to process by products
Developing industries to provide inputs

14. Approaches of a government towards public expenditure and revenue are known as

Budgets
Monetary policy
Fiscal policy
Industrial policy

15. ASEAN stand for

Association of South East Asian Nations
Association of South East American Nations
Association of South East African Nations
None of these

16. BRICS was established in

2005
2006
2010
2012

17. Commodities are the goods produced by...........sector

Primary
Secondary
Tertiary
None of these

18. Companies Act in India is administered by the

Ministry of corporate affairs
Ministry of Finance
Company law board
SEBI

19. Consumer protection Act ieas enacted in the year

1989
1986
1985
1981

20. Critical success factors in the public sector usually relate to one of the following

More than one stakeholder
The expectation of service users
Government imposed standards
The expectation of providers of fund

21. CSRC stands for

Company Social Reforms Committee
Committee for Social Responsibility Commitments
Corporate Social Responsibility Committee
None of these

22. Delay in accepting modern culture is termed as

Cultural delay
Cultural diversity
Cultural gap
Cultural lag

23. Entry barriers include

Capital requirements
Monopoly
Requirement of investment
All the above

24. EPZs stand for

Energy processing zones
Export promotion zones
Export Processing Zones
None of these

25. Expand MSME

Medium, Small and Micro Enterprises
Minimum, Small and Medium Enterprises
Micro, Small and Medium Enterprises
None of these

26. Expand TRIMs

Tariff related investment measures
Trade related investment measures
Trade related institutions measuring
None of the above

27. Expand TRIPs

Trade relates aspects of investment property
Tariff related aspects of international property rights
Trade related aspects of intellectual property right
None of the above

28. Factors which are beyond the control of a business are called

Supply
Demand
Profit
External factors

29. FEMA is a replacement to which Act?

MRTP Act
FERA
Competition Act
Companies Act

30. Following are the features of a perfectly competitive industry

Free entry and exit
large number of firms
Mobility of factors
All the above

Welcome to our Business Environment MCQs section! These multiple-choice questions are designed to help students and exam aspirants test and enhance their understanding of key business environment concepts.

About Business Environment MCQ Questions

Business Environment MCQs cover a wide range of topics including economic systems, market structures, government policies, and global business trends. These questions are crafted to ensure a comprehensive understanding of the dynamic factors that influence business operations.

Why Practice Business Environment Objective Questions?

Practicing Business Environment MCQs offers numerous benefits. It helps students prepare for school and college exams, competitive exams, and job interviews. Regular practice enhances your knowledge, improves your problem-solving skills, and boosts your confidence in tackling real-world business scenarios.

Who Should Use These MCQs?

Students preparing for school or college exams
Competitive exam aspirants
Candidates preparing for interviews