Business Environment

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Assignment – A
1. Discuss the nature and dynamism of business environment. What factors trigger changes in the business environment?
2. Elaborate upon the major components of internal environment of a business firm?
3. Explain the main objectives as incorporated in various five-year plans of India.
4. ‘Social responsibility is a luxury which a few business organizations can afford’. Do you agree or disagree? Give arguments in support of your answer.
5. Write short answers to any three of the following: –
• Factors effecting technological environment of business
• Economic Liberalization
• Horizontal and vertical integration
• Special Economic Zones (SEZs)
7. Explain the regulatory role of the government in an economy. Is government intervention in the economy desirable?
8. Explain the role and functions of WTO and discuss its importance in promoting international trade.

Business Environment
Case Study –
Dumping is the process exporting goods at a price lower than what a good company can fetch in its domestic market. For eg. A baker sells a loaf of bread for Rs.100, but because there are no buyers in India she exports the loaf of bread to another country for Rs. 90.This will be called as dumping by that country. The retail price includes the profit margin of the seller. The loaf in the previous example may have been produced for Rs. 80 with the profit marging being Rs. 20 a loaf. This baker cuts down on his profits when he exports the loaf for Rs. 90. Exporters dump products when they cannot sell products in their domestic market even after slashing costs. This happens when domestic demand is very low as is the case with China, which is flooding the world with its cheap steel.
The prices are already down. One of the reasons is that China accounts for half of the world´s steel capacity of 1600 million tonnes (MT) per year and a slowdown has meant that even low -priced is not being bought domestically. In order to reduce excess capacity China recently announced a 1.8 million job cut in the coal and steel sector.
Yes, China exported 112MT of steel in 2015. This is 25% more than India´s total production of steel. Most of the countries to which China exports its steel say that the country is dumping the product causing adverse impact on their domestic industry. Tata Steel, which has begun the process of selling its UK operations, said one of its businesses in Europe was affected due to cheap Chinese imports flooding the continent.
Q.1. What is dumping process.
Q.2. Why did China recently announced a 1.8 million job cut in the coal and steel sector.?
Q.3. When does exporter´s dump their products.

SECTION C
QUESTION 1
MFN stands for

Most favoured Nation
Most fugitive nation
None of the above
All of the above
QUESTION 2
A period of rising prices and unemployement but little growth in consumer demand and business activity is known as

Stagflation
Inflation
Competition
None of the above
QUESTION 3
An increase in supply of currency or credit relative to the availability of goods and services resulting in higher prices

Competition
Stagflation
Inflation
All of the above
QUESTION 4
Economic Factors impacting business includes

“Tarriffs, Quotas etc”
Political risks
Acts of God
None of the above
QUESTION 5
Geological and ecological factors include

General Agreement on Tarrifs and Trades
Topograhical factors
Inflation of white Goods
Both (a) and (b)
QUESTION 6
“Use of economic theory , mathematical and statastical tools to forecast economic relations”

Economic Luck
Economic Efficiency
Econometric Methods
Decision Science
QUESTION 7
Which of the following are Brown Goods

“Refrigerator, Washing Machines”
“Radio , Transistors, televisons”
Both (a) and (b)
None of the above
QUESTION 8
Markets with small number of large firms producing the bulk of its output

Monopoly
Oligopoly
Both (a) and (b)
None of the above
QUESTION 9
MRTP act was replaced by this act

The consumer Protection Act
SEBI Act
Sick Industrial Companies Act
The Competition Act
QUESTION 10
“Act which authorizes the Government to protect and improve environmental quality, control and reduce pollution”

“Environmental Protection Act,1986”
MRTP Act
The consumer Protection Act
SEBI Act
QUESTION 11
The rate at which RBI lends money to commercial banks

Repo rate
Reverse Repo rate
Cash reserve ratio
Bank Rate
QUESTION 12
Rate at which RBI borrows money from banks

Repo rate
Reverse Repo rate
Cash reserve ratio
Bank Rate
QUESTION 13
Industrial Policy is about

Controlling prics
Controlling Quantity
Both (a) and (b)
None of the above
QUESTION 14
Market which has only one seller of a particular good or service

Monopoly
Oligopoly
Both (a) and (b)
None of the above
QUESTION 15
FEMA stands for

Foreign Exchange Multinational Act
Foreign Exchange Managrial Ability
Foreign Exchange Management act
None of the above
QUESTION 16
The act which regulates relations between workers and employers for direct negotiations is known as

“The Industrial Disputes Act, 1947”
International Labour Organization
None of the above
All of the above
QUESTION 17
Socio-Cultural Environment includes

Life-Style Changes
Devaluation
Consumer Activism
Both (a) and (b)
QUESTION 18
FERA Stands for

Foreign Exchange Regulation Act
Foreign Exchange Registration Act
Funding Exchange Regulation Act
None of the above
QUESTION 19
RBI can restrict the following

Transfer of foreign security by Indian Resident and NRI
Transfer of Immovable property
Both (a) and (b)
None of the above
QUESTION 20
Business on internet is known as

FMCG
Black Market
E-Biz School
E-Commerce
QUESTION 21
“Those who are willing to take risk in starting new business, pursuing opportunities and being innovative are known as”

Brain Drain
Budget Line
Entrepreneurs
Decision Science
QUESTION 22
Attaching a brand mark or brand name to a product in order to distinguish it from other product variants

Capitalism
Consumer Sovereignty
Common Economy
Branding
QUESTION 23
Imperfect Competition can be divided into three main categories

Monopoly and Monopsony
Oligopoly and Oligopsony
Monopolistic Competition
All of the above
QUESTION 24
The objectives of Fiscal Policy are

Development of country
Provide Employment
None of the above
Both (a) and (b)
QUESTION 25
Goal of NAFTA is to

Eliminate barriers to trade and investment between three countries
Eliminate barriers to trade and investment between all the countries of the world
Eliminate barriers to trade and investment between tribes
None of the above
QUESTION 26
A systematic record of all economic transactions between the residents of reporting country and residents of foreign countries is known as

Balance of Trade
Balance of Payments
Both (a) and (b)
None of the above
QUESTION 27
SAARC Agreement establishes a framework for

The exchange of trade concessions among the member states
Eliminate barriers to trade and investment between three countries
Accelerate Economic Growth
All of the above
QUESTION 28
TRIMs stands for

Trade Related Investment Measures
Trade Related Improvement Measures
Trade Related Initiation Measures
None of the above
QUESTION 29
The term refers to a corporation´s initiatives to assess and take responsibility for the company´s effects on environmental and social wellbeing

Business Cycle
Trend analysis
Corporate Social Responsibility
Expropriation Risk
QUESTION 30
The most useful information derived from a break-even chart is the

Amount of sales revenue needed to cover enterprise fixed costs
Amount of sales revenue needed to cover enterprise variable costs
Volume or output level at which the enterprise break-evens
Relationship between revenue and costs at various levels of an activity
QUESTION 31
Competition Act was passed in the year

1947
1956
2002
None of the above
QUESTION 32
The objective of cash discount is

to extend the goodwill of a firm
to reduce the price of a product
to encourage the customers to make prompt payment
to increase the number of customers
QUESTION 33
Opportunity cost is a term which describes

a bargain price for a factor of production
costs related to an optimum level of production
variable costs
cost of one product in terms of production of others forgone
QUESTION 34
Income which individuals have at their disposal after the payment of personal Tax is known as

Gross National Product
Net National Product
Disposable Income
Personal Income
QUESTION 35
GSTP establishes a framework for

Trade Related Investment Measures
Exchange of trade concessions among the members of the group
Accelerate Economic Growth
Incorrect
QUESTION 36
The objective of India Trade Promotion Organization is to

Promote exports and imports
Upgradation of technology through the medium of fairs held in India and abroad
Assist Indian companies in product development
All of the above
QUESTION 37
National Centre for Trade promotion was established to

“Provide the latest trade, business and economic information to helpIndian and foreign organizations”
Exchange of trade concessions among the members of the group
Bargain price for a factor of production
Issue Policies to the exporters
QUESTION 38
The main factors of micro-environment are

Suppliers
Customers
Marketing Intermediaries
All of the above
QUESTION 39
Number of units of the product which must be soldnto earn enough revenue to cover all the expenses-both fixed and variable is known as

Forecasting
Break-Even Point
Fixed Costs
Contribution Margin
QUESTION 40
The objectives of Information Technology Act are

To legalise digital signature
Store data electronicallly
To stop computer crime
All of the above
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