Deck 4: Business, Trade, and Politics: Understanding the Economic Environment

Question 1

________is the business through which new ideas and innovations are given a sharp and are converted into useful products and services

A)Market leadership
B)Challenge
C)Joy of creation
D)Growth

Answer 1

Joy of creation

Question 2

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

A)Privatisation
B)Liberalisation
C)Globalisation
D)Both (a) and (b)

Answer 2

Liberalisation

Question 3

Liberalization means

A)Reducing number of reserved industries from 17 to 8
B)Liberating the industry, trade and economy from unwanted restrictions
C)Opening up of economy to the world by attaining international competitiveness
D)Free determination of interest rates

Answer 3

Liberating the industry, trade and economy from unwanted restrictions

Question 4

The short term financial instruments traded in money market is commonly called

A)Bonds
B)Shares
C)Notes
D)Commercial Papers

Question 5

Macro environment is also known as ____

A)Direct environment
B)Indirect environment
C)Competitive environment
D)Social environment

Question 6

_____ micro environment is also known as direct environment

A)Economic
B)Political & legal
C)Competitors
D)Suppliers

Question 7

State directive principles are

A)Suggestion to direction
B)Instruments of instruction
C)Principles of instruction
D)Responsibility to state principles

Question 8

The macro environment consists of ___

A)Economic political &legal
B)Consumer competitors
C)Public
D)Middlemen

Question 9

What does micro environment consists of ___

A)Economic
B)Political &legal
C)Consumers competitors
D)Demographic

Question 10

Who is responsible for presenting the Union Budget before the Parliament?

A)Prime Minister
B)RBI Governor
C)Finance Minister
D)None of the above

Question 11

_______ refers to all forces which have an economic impact

A)Technological environment
B)Political environment
C)Economic environment
D)Social environment

Question 12

Political environments refers to the influence excreted by the ______political institutions

A)2
B)3
C)4
D)5

Question 13

What are the bodies which political environment consists of

A)Middlemen
B)Suppliers
C)Customer
D)Legislature executive & judiciary

Question 14

_________ decides on a particular course of action

A)Legislature
B)Executive
C)Judiciary
D)Public

Question 15

________is also called government which implements whatever is decided by the parliament

A)Legislature
B)Executive
C)Judiciary
D)Public

Question 16

_______plays the watch dog in order to ensure that both function in public interest and within the boundaries of constitution

A)Legislature
B)Executive
C)Judiciary
D)Public

Question 17

Headquarters of World Trade Organization at

A)Geneva
B)Japan
C)South Korea
D)Russia

Question 18

Globalization does not involve.

A)Reduction of barrier
B)Free flow of goods and services.
C)Global mechanism for settlement of Economic disputes.
D)Free flow of Capital

Question 19

________should facilitate & enhance strategies thinking in organization

A)Strategic management
B)Environmental analysis
C)Business environment
D)Business analysis

Question 20

The environment analysis that provides inputs for strategies decision making is _

A)Strategic management
B)Environmental analysis
C)Business environment
D)Business analysis

Question 21

The first MNC came to India in ___

A)1920
B)1921
C)1919
D)1923

Question 22

An effective crisis management plan will __

A)Minimize the seriousness of the problem
B)Exaggerate minor incident
C)Use the internet to convey the public affairs message
D)Immediately apologize to the public and accept any liability

Question 23

What was the predecessor of WTO?

A)GAAT
B)IMF
C)ADB
D)UNCTAD

Question 24

A multi-national corporation (MNC) is defined by

A)Carrying out production in more than one country.
B)Having sales in more than one country.
C)Having a multi-ethnic workforce .
D)Having suppliers in more than one country.