CUET 2023 Business Studies Chapter 3 - Business Environment MCQs

Business Studies Chapter 3 – Principles of Management MCQ Question Answers for CUET 2023

1. FIPB stands for ___ ?

a.Foreign Investment Promotion board

b.Financial investment publicity board

c.Foreign Investment Publicity Board

d.Foreign Investment Promotion Board

2. What was given by the Government of India on lease in 1991 to State Bank Of India

a.Gold

b.Govt. Institutions

c.Govt. Securities

d.Govt. Bonds

3. Globalization does not involve:

a.Global mechanism for settlement of economic disputes

b.Reduction of barrier

c.Free flow of capital

d.Free flow of goods and services

4. Which of the following is the component of the Economic Environment ?

a.Volume of imports and exports of different itesm

b.Agricultural and Industrial production trends

c.Balance of payments and changes in foreign exchange reserves

d.All of the above

5. Who was Diwakar Kamboj?

a.Beggar

b.Tailor

c.Street Vendor

d.Rickshaw Pullar

6. Liberalisation means

a.Policy of planned disinvestment

b.Integrating among economies

c.None of these

d.End of license and reduction of government condtrol

7. Which of the following is the Major Element of Social Environment?

a.All of the above

b.Educational system and literacy rates

c.Planned outlay in private and public sectors

d.Public debt (internal and external)

8. Which of the following is the impact of govt. policy changes on business & industry?

a.Need for change

b.Increased competition

c.Demanding Customers

d.All of the above

9. Which nature of the business environment suggests that the environment keeps on changing?

a.Pervasive

b.Dynamic

c.Multidimensional

d.Continuous

10. Which of the following is not a part of the business environment of business?

a.None of the above

b.Suppliers

c.Competitiors

d.Customers

11. Identification of opportunities to get first more advantage is one of the importance of the business environment. (True/False

a.Cannot be Determined

b.Maybe

c.FALSE

d.TRUE

12. Which of the following is not a feature of demonetisation?

a.Totality of external forces

b.Tax administration measure

c.Development of less cash economy

d.Channelising savings into the formal financial system

13. Any kind of external devices, like compact discs (CD’s) for computer, have become obsolete. Google, with its Google Drive service, Apple with its iCloud offering, enables the users to store documents, photos, music and movies on web-based servers. Identify the feature of the business environment being described in the above lin

a.Interrelatedness

b.Dynamic Nature

c.Uncertainty

d.Relativity

14. What is the full form of LERMS ?

a.Liberalised Exchange Rate Management Syste,

b.Local Exchange Rate Management System

c.Liberalised Exchange Return Management System

d.Liberalised Economy Rate Management Society

15. Proper understanding of business environment is not a prerequisite for

a.Bettter coordination of employee efforts

b.Formulation of strategies

c.Tapping of useful resources

d.Identificaion of opportunities and threats

16. State True or False, Privatisation involves freedom of doing business.

a.TRUE

b.Cannot be Determined

c.Maybe

d.FALSE

17. ___ is the integration of world economy into a single market through removal of trade barriers between countries

a.Liberalisation

b.Privatisation

c.Globalisation

d.Both a and b

18. In order to boost and double India’s export of goods and services to over USD 1,000 billion by 2025, it is important to lower effective corporate tax rate, bring down cost of capital and simplify regulatory and tax framework. Identify the related dimension of business environment.

a.Political dimension and social dimension

b.Economic dimension and legal dimension

c.Technological dimension and Political dimension

d.Social dimension and legal dimension

19. In which environment of business legal are rules and regulations related to business included?

a.Economic

b.Legal

c.Political

d.Social

20. In the business environment, which feature states that various factors of business environment affect each other

a.Pervasive

b.Dynamic