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UGC NET SET | COMMERCE | BUSINESS ENVIRONMENT | MCQ SET 1

UGC NET SET | COMMERCE | BUSINESS ENVIRONMENT | MCQ SET 1

UGC NET SET | COMMERCE | BUSINESS ENVIRONMENT | MCQ SET 1
    The MCQs on Business Environment is as follows👇

MCQ.1._______consist of economic conditions, economic policies, industrial policies and economic system.
(A) Business environment 
(B) Economic Environment 
(C) Natural Environment
(D) None of the above.

MCQ.2. An analysis of the external environment enables a firm to identify
(A) Strengths and opportunities 
(B) Strength and weakness 
(C) Weakness and threats
(D) Opportunities and threats

MCQ.3.These are forces in the company's immediate environment that affect the performance of the Co.
(A) Macro environment
(B) Micro environment 
(C) Technological environment 
(D) Natural environment

MCQ.4. In this type of economic system, the Government intervention will be absent.
(A) Free enterprise economy 
(B) Socialist economy 
(C) Mixed economy 
(D) None of the above

MCQ.5._____is an economic system where the means of production are owned and managed by the State. 
(A) Capitalism 
(B) Socialism 
(C) Mixed Economy 
(D) Common economy

UGC NET SET | Commerce | Business Environment MCQ 1 to 5 | Answer Key ðŸ‘‡
Q.1-B
Q.2-D
Q.3-A
Q.4-A
Q.5- B

MCQ.6. _____is concerned with the obligation and duties of business to the society. 
(A) Social responsibility
(B) Status
(C) Authority
(D) None of these

MCQ.7. Which one of the following cannot be included under the nature of relationship between business and Environment? 
(A) Interdependence 
(B) Dynamic 
(C) Social change
(D) Fixed

MCQ.8. External Environment of Business is
(A) Physical 
(B) Demographical
(C) Economic 
(D) All of these

MCQ.9. The Economic environment of a business includes.
(A) Economic system
(B) Economic policies
(C) Economic conditions
(D) All of these 

MCQ.10. Which of the following is not an essential feature of social environment? 
(A) Competitiveness 
(B) Respect for the individual 
(C) Better quality of life
(D) Bailment

UGC NET SET | Commerce | Business Environment MCQ 6 to 10 | Answer Key👇
Q.6-A
Q.7-D
Q.8-D
Q.9-D
Q.10-D

MCQ.11. Which of the following is not a part of the economic environment of business? 
(A) Competitive Environment 
(B) Economic System 
(C) Changes in Patent Laws 
(D) None of these 

MCQ.12. The low income economies are sometimes referred to as 
(A) First world
(C) Third world
(B) Second world 
(D) None of these

MCQ.13. This is the Government's strategy in respect of public expenditure and revenue which have a significant impact on business
(A) Monetary policy 
(B) Fiscal Policy 
(C) Trade policy
(D) Foreign exchange policy

MCQ.14. In which year the constitution of India was amended to add, among other things, that India should be a socialist state?
(A) 1954
(B) 1976
(C) 1980
(D) 1985

MCQ.15. The method used for transferring complex technology is
(A) Trunkey contracts 
(B) Licensing agreements
(C) Training of experts
(D) None of these 

UGC NET SET | Commerce | Business Environment MCQ 11 to 15 | Answer Key👇
Q.11 - D
Q.12 - C
Q.13 - B
Q.14 - B
Q.15 - A

MCQ.16.____ is concerned with holding the balance between economic and social goals and between individual and communal goals
(A) Corporate Management 
(B) Corporate governance 
(C) Business ethics
(D) None

MCQ.17.____ is concerned with the withdrawal of State from an industry or sector, partially or fully
(A) Liberalization 
(B) Modernization
(C) Privatization 
(D) Globalization 

MCQ.18. Which Act was replaced with the introduction of Competition Act 2002? 
(A) FERA 
(B) MRTP
(C) POTA 
(D) None

MCQ.19. Competition Act was enacted in the year-
(A) June 2002
(B) Dec. 2002 
(C) January 1999 
(D) None of these

MCQ.20. ____is the process of analyzing the environment for the identification of factors which have impact on or have implication for the business.
A) Forecasting
B) Assessment 
C) Scanning 
D) None of these

UGC NET SET | Commerce | Business Environment MCQ 16 to 20 | Answer Key ðŸ‘‡
Q.16-B
Q.17-C
Q.18-B
Q.19-B
Q.20-C

MCQ.21. Which committee recommended the eractment of Competition Act?
(A) High level Committee on competition policy and Law
(B) A Committee on Law and Order
(C) Central Committee for Research and Policy
(D)None of these

MCQ.22. Which policy is concerned with raising reta enue through taxation and deciding on the level and pattern of expenditure?
(A) Monetary policy 
(B) Fiscal Policy
(C) Cash policy 
(D) None of these

MCQ.23. _____is concerned with all current expenditure of the Government on administration. 
(A) Revenue expenditure
(B) Capital expenditure
(C)Total Expenditure
(D) None of these 

MCQ.24. FEMA was passed in the year 
(A) 1999 
(B) 1989
(C) 2000 
(D) 1997

MCQ.25. The policy of Government related to Export and Import is
(A) IMEX policy 
(B) EXIM policy
(C) Export policy 
(D) None of these

UGC NET SET | Commerce | Business Environment MCQ 21 to 25 | Answer Key👇
Q.21-A
Q.22-B
Q.23-A
Q.24-A
Q.25-B

MCQ.26.___ is an Act to control and regulate the concentration of economic power to the common detriment?
(A) IRDA Act 
(B) MRTP
(C) ILO Act 
(D) FERA 

MCQ.27. Consumer Protection Act was came into force in
(A) 1985
(B) 1986 
(C) 1999
(D) 1989

MCQ.28. Indian Economy is an example of 
(A) Capitalist economy 
(B) Closed economy 
(C) Mixed Economy 
(D) None of these

MCQ.29._____economy is not planned, controlled or regulated by the Government 
(A) Closed Economy 
(B) Mixed Economy 
(C) Free market economy 
(D) None of these

MCQ.30._____is the main aim of economic planning in India.
(A) Economic Growth 
(B) Industrial expansion 
(C) Growth with social justice
(D) None of these 

UGC NET SET | Commerce | Business Environment MCQ 26 to 30 | Answer Key👇
Q.26-B
Q.27-B
Q.28-C
Q.29-C
Q.30-C

MCQ.31._____is the apex body of the economic planning in India.
(A) Planning Commission
(B) Parliament
(C) Supreme Court
(D) None of these

MCQ.32. Analyzing process of change in the Business environment involves conceptualizing it as
(A) Diverse 
(B) Complex 
(C) Dynamic 
(D) Static

MCQ.33. The concept of a firms 'license to operate' refers to-
(A) A legal requirement for company registration
(B) An agreement recognizing trade unions 
(C) The need for a firm to retain its legitimacy in the eyes of the public
(D) The qualifications needed by company directors

MCQ.34. The transfer of asset from public sector to the private sector is referred to as
(A) Privatization 
(C) Nationalization
(B) De regulation
(D) Individualization

MCQ.35. What is triple bottom line audit
(A) A social, economic and environmental audit
(B) An audit of the three major financial project of a business.
(C) An audit by the Physical Health of Employees
(D) An audit of all the Sporting resources of the enterprise

UGC NET SET | Commerce | Business Environment MCQ 31 to 35 | Answer Key👇
Q.31-A
Q.32-C
Q.33-C
Q.34-A
Q.35-A

MCQ.36. What does the PPP or P3 initiative refer to? 
(A) Public policy papers
(B) Public Private Partnership 
(C) Private Procurement Production
(D) Personal Production Proposal 

MCQ.37. What does the PFI initiative refer to
(A) Private Finance Initiative 
(B) Private Fiscal Initiative 
(C) Public Financial Initiative 
(D) Private Foundation Investment

MCQ.38. Globalization refers to
(A) A more integrated and interdependent world
(B) Lower income world wide
(C) Less foreign trade and investment 
(D) Global warming

MCQ.39. Which of the following do not facilitate globalisation?
(A) Improvements in communication
(B) Barriers to trade and investment 
(C) Immigration control
(D) Removal of control on movements of capital across borders.

MCQ.40. Which of the following is not a derived from globalisation?
(A) The fragmentation of consumer taste between countries
(B) The competitive process
(C) The need to gain economies of scale 
(D) None of these

UGC NET SET | Commerce | Business Environment MCQ 36 to 40 | Answer Key👇
Q.36-B
Q.37-A
Q.38-A
Q.39-B
Q.40-A

MCQ.41. Globalization is beneficial for firms because 
(A) It protects them against foreign competition
(B) It cushions them from the effects of events in other countries.
(C) It opens up new market opportunities
(D) It increases the risk and uncertainty of operating in globalizing world economy

MCQ.42. Globalization can create problem for business because
(A) It can result in more competition 
(B) It increases vulnerability to political risk and uncertainty when operating abroad 
(C) It means that they can increase price 
(D) All the options are correct

MCQ.43. An environment which is increasingly complex and turbulent displays 
(A) More orderly competition 
(B) More predictable demand 
(C) A reduced risk of product obsolescence 
(D) Increased speed of innovation

MCQ.44. Which of the following is not a business opportunity generated by globalization? 
(A) Access to low cost labor 
(B) Cheap international transport
(C) Currency crisis
(D) Less stringent regulations of the Business Environment

MCQ.45. To determine a country's attractiveness to business require
(A) A detailed analysis of elements in the macro environment
(B) An assessment of the political and financial risks of doing business in that country
(C) An analysis of the competitive environment
(D) All of the above

UGC NET SET | Commerce | Business Environment MCQ 41 to 45 | Answer Key👇
Q.41-C
Q.42-A
Q.43-D
Q.44-C
Q.45-D

MCQ.46. Secondary screening involves
(A) An external environmental analysis 
(B) Risk analysis
(C) An external environment analysis and risk analysis
(D) A competitor analysis

MCQ.47. The Sale of Sub standard and hazardous goods under defined conditions constitute
(A) Restrictive Trade Practice 
(B) Unfair Trade Practice
(C) MRTP
(D) None of these

MCQ.48.____refers to the external forces which have a beating on the functioning of the business. 
(A) Environment 
(B) Culture 
(C) System
(D) None of these 

MCQ.49.______is a social movement seeking to augment the rights and powers of buyers.
(A) Consumer movement
(B) Consumerism
(C) Flows
(D) None of these 

MCQ.50. Industrial Policy of 1948 aimed at
(A) Industrialization, 
(B) Growth of agriculture
(C) Development of infrastructure
(D) Development of Service Sector

UGC NET SET | Commerce | Business Environment MCQ 46 to 50 | Answer Key👇
Q.46-C
Q.47-A
Q.48-A
Q.49-B
Q.50-A

MCQ.51. By which Act the government check's restrictive trade?
(A) Industrial Policy Act 1991
(B) MRTP Act
(C) FEMA
(D) None of these

MCQ.52. The Industrial policy resolution was passed first in 
(A) 1931 
(B) 1947
(C) 1956 
(D) 1999

MCQ.53. What are the decisions taken by the Government of India pertaining to the public sector in the new industrial policy of 1991? 
(A) VRS to shed the load of excess workers 
(B) Disinvestment of Public Sector share holding
(C) Referring sick units to BIFR
(D) All of the above.

MCQ.54. Privatization of ownership through scale of equity shares in called-
(A) Denationalization
(B) Disinvestment
(C) Contracting
(D) None of these

MCQ.55. Which among these is not a method of Privatisation? 
(A) Denationalization 
(B) Franchising 
(C) Sale of Business 
(D) All of these

UGC NET SET | Commerce | Business Environment MCQ 51 to 55 | Answer Key👇
Q.51-B
Q.52-C
Q.53-D
Q.54-B
Q.55-C

MCQ.56. A possible obstacle to the growth of privatisation is 
(A) Profit earned by public enterprises 
(B) Sale of least profitable enterprises 
(C) Licensing 
(D) None of these

MCQ.57. The credit for inventing the word ‘Privatization' goes to
(A) Elton Mayo 
(B) F.W. Taylor 
(C) L Urwick 
(D) Peter Drucker

MCQ.58. “The Age of Discontinuity' (1969) has been authored by
(A) John Drydon 
(B) Cyril Debydeen 
(C) Peter F. Drucker 
(D) None of these

MCQ.59. In India, Liberalization and Privatization began from
(A) 1991
(B) 1971 
(C) 1981 
(D) 1947

MCQ.60. Globalization means
(A) Setting of firms branches in other countries.
(B) Adopting a global outlook
(C) Earning Profit from exports
(D) Attracting foreign investment

UGC NET SET | Commerce | Business Environment MCQ 56 to 60 | Answer Key👇
Q.56-B
Q.57-D
Q.58-C
Q.59-A
Q.60-B

MCQ.61. Which one is not the main objective of fiscal policy in India?
(A) To increase liquidity in the economy 
(B) To promote price stability
(C) To minimize the inequalities of income and wealth
(D) To promote employment opportunities. 

MCQ.62. Which one is not an element of internal environment?
(A) Marketing capability
(B) Operational capability 
(C) Money and capital market
(D) Personal capability

MCQ.63. Environment degradation does not consist of
(A) Land degradation and soil erosion 
(B) Problem of overgrazing and ecological degradation 
(C) Floods
(D) None of the above

MCQ.64. Liberalization means
(A) Reducing the number of reserved industries from 17 to 8.
(B) Liberating the economy, trade and industry from upwanted restrictions.
(C) Opening up of the economy to the world market by attaining international competitiveness
(D) Free determination of interest rates.

MCQ.65. ____is an economic system based on the principal of free enterprise. 
(A) Capitalism 
(B) Socialism 
(C) Mixed economy
(D) Marxism

UGC NET SET | Commerce | Business Environment MCQ 61 to 65 | Answer Key👇
Q.61-A
Q.62-A
Q.63-D
Q.64-C
Q.65-A

MCQ.66. Which among these can be a condition for the success of privatisation? 
(A) Alternative institutional arrangement 
(B) Barriers to enter the market
(C) Measurability of Performance
(D) All of the above.

MCQ.67. Globalization means
(A) Adopting a global outlook for business. 
(B) Inviting multinationals in the country 
(C) Selling in foreign market
(D) All of the above.

MCQ.68. Indian business encounter the following problem in globalization
(A) Infrastructure bottlenecks 
(B) Lack of interest shown by MNCs 
(C) Both (A) and (B) 
(D) None of these

MCQ.69. Which among these is not a key global force impacting the Indian economy?
(A) Dynamics of capital flows 
(B) Integrating role of purchasing
(C) Integrating role of technology 
(D) Need for attitudinal change

MCQ.70. Which of the following is the vital question in the economic system? 
(A) What to produce
(B) How to produce
(C) For whom to produce
(D) All of the above

UGC NET SET | Commerce | Business Environment MCQ 66 to 70 | Answer Key👇
Q.66-B
Q.67-A
Q.68-A
Q.69-A
Q.70-D

MCQ.71. Which among these is not an objective of Planning?
(A) Economic growth 
(B) Setting of heavy industries 
(C) Modernization
(1) None of the above

MCQ.72. Pollution monitoring and control is done by
(A) Central Board for prevention and control of water pollution
(B) Central Board for Pollution Control 
(C) Central Government
(D) None of the above

MCQ.73. Micro factors of external business environment does not include
(A) Competitors 
(B) Customers 
(C) Govt Policy 
(D) None of these.

MCQ.74. Company images and brand equity is factor affecting business.
(A) Externally 
(B) Internally 
(C) Govt Policy 
(D) None of these.

MCQ.75. Consumer protection in India is ensured by 
(A) Consumer Protection Act 1946 
(B) Consumer Protection Act, 1986 
(C) Consumer Protection Act 1990 
(D) Consumer Protection Act 1968

UGC NET SET | Commerce | Business Environment MCQ 71 to 75 | Answer Key👇
Q.71-B
Q.72-A
Q.73-C
Q.74-A
Q.75-B

MCQ.76. Which among these is not a Restrictive Trade Practice?
(A) Tie up Sales
(B) Price discrimination
(C) Manipulation of Prices
(D) All are Restrictive trade practices.

MCQ.77. Which of the following is not an instrument of monetary policy? 
(A) Deficit financing 
(B) Statutory Liquidity Ratio 
(C) Cash Reserve Ratio 
(D) Open Market Operation

MCQ.78. The MRTP Act 1969 was abolished in
(A) 1991 
(B) 2002 
(C) 2006
(D) None of the above

MCQ.79. When a company takes over another one and clearly becomes a new owner, the action is called
(A) Merger
(B) Acquisition
(C) Strategic Alliance
(D) None of the above 

MCQ.80. Globalization is a term used to describe the process of removal of restrictions on which of the following? 
(A) Foreign Trade 
(B) Investment
(C) Both (A) and (B)
(D) None of the above

UGC NET SET | Commerce | Business Environment MCQ 76 to 80 | Answer Key👇
Q.76-C
Q.77-A
Q.78-B
Q.79-B
Q.80-C

MCQ.81. India abolished the quantitative restrictions on imports of 1429 items in 2000 and 2001 as per the commitment to which of the following?
(A) SAFTA 
(B) GATT
(C) WTO 
(D) NAM

MCQ.82. The concept of Small Scale Industries (SSIS) was brought to fore by the 
(A) Industrial Policy Resolution 1948 
(B) Industrial Policy Resolution 1956 
(C) Industrial Policy Statement 1977 
(D) None of the above.

MCQ.83. Which of the following does not fall within the jurisdiction of MRTP commission?
(A) Prevention of Monopolistic Trade Practices.
(B) Prevention of Restrictive Trade Practices.
(C) Prohibition of Unfair Trade Practices. 
(D) Regulation of Combinations.

MCQ.84. Laissez faire policy is adopted in 
(A) Socialistic economic system 
(B) Capitalistic economic system 
(C) Mixed economic system 
(D) Communist economic system

MCQ.85. Relaxing the restrictions and controls imposed on business and industrial means 
(A) Liberalization 
(B) Privatization 
(C) Globalization 
(D) None of these

UGC NET SET | Commerce | Business Environment MCQ 81 to 85 | Answer Key👇
Q.81-C
Q.82-C
Q.83-D
Q.84-B
Q.85-B

MCQ.86. Which of the following is not an objective of Competition Act 2002?
(A) Prohibition of abuse of dominant position
(B) Prohibition of Restrictive Trade Practices
(C) Prohibition of Anti Competitive Agreement
(D) Regulation of Combinations

MCQ.87. FEMA Signifies
(A) Free Export Management Act 
(B) Foreign Exchange Management Act 
(C) Foreign Exchange Monitoring Act 
(D) Free Export Marketing Act

MCQ.88. The Pre-liberalization era of Indian economy was under the grip of 
(A) Unemployment
(B) Under-employment 
(C) Fiscal Deficit 
(D) Unfavorable and alarming balance of payment

MCQ.89. If the amount claimed by a consumer as compensation is Rs. 89 Lacs, the case under the consumer protection act shall be filed with 
(A) District Consumer Redressal Forum
(B) State Consumer Disputes Redressal Commission
(C) National Consumer Disputes Redressal Commission
(D) Supreme Court

MCQ.90. VAT is imposed
(A) Directly on consumers
(B) On final stage of production
(C) On all stages from production to final sales
(D) None of the above

UGC NET SET | Commerce | Business Environment MCQ 86 to 90 | Answer Key👇
Q.86-B
Q.87-B
Q.88-D
Q.89-B
Q.90-B

MCQ.91. Which among the following have not been opened for private sector participation?
(A) Power sector
(B) Telecommunication sector
(C) Education sector 
(D) Railways process.

MCQ.92. Planning is a 
(A) Goal oriented 
(B) Flexible
(C) Time bound
(D) All of the above

MCQ.93. A monopolistic Trade Practice is deemed to be prejudicial to public interest except when 
(A) Authorized by Central Government 
(B) Authorized by State Government 
(C) Authorized by Supreme Court 
(D) None of the above.

MCQ.94. Which among these is a Monopolistic Trade Practice?
(A) Unreasonably Limiting Competition 
(B) Manufacturing only one product 
(C) Limiting technical development 
(D) Selling only one product.

MCQ.95. For the purpose of an inquiry under the MRTP Act, the commission has the power equivalent to
(A) Civil Court
(B) Consumer Court 
(C) High Court
(D) None of these

UGC NET SET | Commerce | Business Environment MCQ 91 to 95 | Answer Key👇
Q.91-D
Q.92-D
Q.93-B
Q.94-B
Q.95-A

MCQ.96. First Industrial Policy Resolution was issued in
(A) 1947 
(B) 1948
(C) 1951 
(D) 1954

MCQ.97. Industrial Policy resolution of 1948 divided industries into
(A) 3 categories 
(B) 4 categories 
(C) 5 categories 
(D) 6 categories

MCQ.98. Industrial (Development & Regulation) Act was passed by parliament in 
(A) 1947 
(B) 1949 
(C) 1951 
(D) 1956

MCQ.99. Industrial Policy Resolution 1956 divided industries into categories.
(A) 2 
(B) 3
(C) 4 
(D) 5 

MCQ.100.Industrial Policy Resolution 1956 reserved industries for public sector are 
(A) 12
(B) 14
(C) 16
(D) 17

UGC NET SET | Commerce | Business Environment MCQ 96 to 100 | Answer Key👇
Q.96-B
Q.97-B
Q.98-C
Q.99-B
Q.100-D

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