Question 1

FERA is foreign exchange regulation act for _________.&#10;A)industries .&#10;B)small scale .&#10;C)labour.&#10;D)owner.

Accepted Answer

FERA, or the Foreign Exchange Regulation Act, was enacted to regulate certain payments, the dealing in foreign exchange and securities, transactions indirectly affecting foreign exchange, and the import and export of currency, for the conservation of the foreign exchange resources of the country and the proper utilization thereof in the interests of the economic development of the country, which directly impacts industries.

Question 2

SAOIL is ______.&#10;A)Steel authority of India ltd .&#10;B)School authority of India ltd.&#10;C)State authority of India ltd.&#10;D)Span authority of India ltd.

Accepted Answer

SAOIL stands for Steel Authority of India Ltd., which is one of the largest state-owned steel making companies in India and one of the top steel makers in the world.

Question 3

NDP is ____.&#10;A)Net Domestic Product.&#10;B)Net Domestic Percentage.&#10;C)Net Domestic Personnel.&#10;D)Net Domestic Public.

Accepted Answer

NDP stands for Net Domestic Product, which is the total value of all goods and services produced within a country's borders in a specific time period, minus depreciation.

Question 4

Who gave a practical shape to privatization?&#10;A)MARGARAT THATCHER.&#10;B)LOUIS PETER.&#10;C)WILLIAMS.&#10;D)FAYOL.

Accepted Answer

Margaret Thatcher, the Prime Minister of the United Kingdom from 1979 to 1990, is widely recognized for giving practical shape to the concept of privatization through her policies of deregulation and moving public sector enterprises into the private sector.

Question 5

The techniques of privatization are contract _______and concession.&#10;A)building.&#10;B)free .&#10;C)leases .&#10;D)hire purchase.

Accepted Answer

The correct technique of privatization that pairs with concession is contract leases. Privatization can involve various strategies to transfer ownership or operation from the public sector to the private sector, and contract leases, along with concessions, are common methods. In a contract lease, a government entity leases its operations or services to a private company to run for a specified period, while in a concession, a private entity gains the right to operate a specific business within the government's jurisdiction, often under certain conditions.

Question 6

There are _____sins of privatization.&#10;A)5.&#10;B)6.&#10;C)7.&#10;D)8.

Accepted Answer

There are 7 commonly recognized sins of privatization, which include issues like lack of competition, transparency, and accountability, leading to potential negative impacts on public services and goods.

Question 7

The income level of residents in a country is indicated by _______.&#10;A)gross national income.&#10;B)gross domestic product.&#10;C)per capita gross national income.&#10;D)per capita gross domestic product.

Accepted Answer

Per capita gross national income (GNI) is a measure that reflects the average income of a country's residents, accounting for the total income divided by the population.

Question 8

--------is the process of analyzing the environment for the identification of factors which have impact on or have implication for the business.&#10;A)Assessment&#10;B)Forecasting&#10;C)Scanning&#10;D)None of these

Accepted Answer

Scanning is the correct term for the process of analyzing the environment to identify factors that impact or have implications for the business. This involves systematically examining external influences to understand opportunities and threats.

Question 9

PEST is an acronym which stands for ________.&#10;A)Political, Environment, Societal, Technology. Share institution privatization.&#10;B)Political, Economic, Societal, Technological.&#10;C)Political, Economic, Social, Technological.&#10;D)People, Economy, Standards, Tr

Accepted Answer

The answer of PEST is an acronym which stands for...

Question 10

The European Union is an example of ______.&#10;A)monetary union.&#10;B)free trade area.&#10;C)common market.&#10;D)economic union.

Accepted Answer

The European Union is an economic union, which means it encompasses elements of a common market, a customs union, and a monetary union, with coordinated economic policies among member states.

Question 11

The legal system in India is based on ______.&#10;A)Common law.&#10;B)Civil law.&#10;C)Theocratic law.&#10;D)Hindu law.

Accepted Answer

The answer of The legal system in India is based...

Question 12

A mixed economy is necessarily a _____.&#10;A)controlled.&#10;B)planned.&#10;C)organised.&#10;D)planned, organised and controlled.

Accepted Answer

The answer of A mixed economy is necessarily a _____.&#10;A)controlled.&#10;B)planned.&#10;C)organised.&#10;D)planned,...

Question 13

The origin of Common law is in _____.&#10;A)America.&#10;B)England.&#10;C)Russia.&#10;D)India.

Accepted Answer

The answer of The origin of Common law is in...

Question 14

The taking over of a private firm by the host country government to be run it as a government unit is ______.&#10;A)expropriation.&#10;B)confiscation.&#10;C)nationalisation.&#10;D)domestication

Accepted Answer

The answer of The taking over of a private firm...

Question 15

Who is responsible for presenting the Union Budget before the Parliament?&#10;A)Prime Minister&#10;B)Finance Minister&#10;C)RBI Governor&#10;D)none of the above

Accepted Answer

The answer of Who is responsible for presenting the Union...

Question 16

The goods and the services produced, priced and distributed by the government is ___.&#10;A)Market economy.&#10;B)Secular economy.&#10;C)Command economy.&#10;D)Mixed economy.

Accepted Answer

The answer of The goods and the services produced, priced...

Deck 10: Business and Economic Terms