Question 1

In which of the following basic categories can business environment be divided?
A)Local and Regional
B)Regional and National.
C)Internal and External.
D)Financial and Nonfinancial.

Accepted Answer

The business environment is typically divided into internal and external categories. The internal environment includes factors within the company that can be controlled and managed, such as employees, company culture, and processes. The external environment encompasses factors outside the company that can affect its performance, such as market trends, economic conditions, and legal regulations.

Question 2

____ is a statement Which derives the role that an organization plays in a society.
A)Goals.
B)Mission.
C)Objective.
D)Success.

Accepted Answer

A mission statement defines the purpose of an organization and how it aims to serve its key stakeholders, encapsulating the role it plays in society.

Question 3

Economic environment refers to all forces which have a _____.
A)political.
B)natural
C)economic.
D)social.

Accepted Answer

Economic environment specifically refers to all the economic forces that affect the business operations and decisions, such as inflation rates, interest rates, economic growth patterns, and the overall economic climate of a country or region.

Question 4

______environment is with in the control of the business.
A)Internal.
B)External.
C)Micro.
D)Macro.

Accepted Answer

The internal environment refers to the elements within an organization that can be controlled or influenced by the business, such as its culture, resources, and processes.

Question 5

____ environment is beyond the control of the business.
A)Internal.
B)External.
C)Micro.
D)Macro.

Accepted Answer

External environment is beyond the control of the business.

Question 6

Micro environment is also called as ________.
A)general environment.
B)operating environment.
C)economics environment.
D)political environment.

Accepted Answer

The micro environment, also known as the operating environment, includes all the entities that a company directly interacts with in the course of its business. This can include customers, suppliers, competitors, and distributors.

Question 7

Macro environment is also called as _______.
A)general environment.
B)operating environment.
C)economic environment.
D)political environment.

Accepted Answer

The macro environment is also referred to as the general environment. It encompasses the broad environmental context in which a company operates, including economic, political, social, technological, environmental, and legal factors, rather than the more immediate operating environment of the company.

Question 8

The environment which is close to business and affect its capacity to work is known as ___environment.
A)internal.
B)external.
C)micro.
D)macro.

Accepted Answer

The micro environment refers to the immediate environment that surrounds the business and affects its capacity to work. This includes factors like suppliers, customers, competitors, and distributors that a business directly interacts with.

Question 9

Factors that create opportunities and threats to business units is known as_______.
A)internal environment.
B)external environment.
C)micro environment.
D)macro environment.

Accepted Answer

The macro environment consists of factors that create opportunities and threats to business units.

Question 10

Internal factors affecting a business environment also are referred to ____factors.
A)controllable.
B)uncontrollable factors.
C)relevant.
D)global.

Accepted Answer

Internal factors affecting a business environment are considered controllable because they originate within the organization and can be altered or managed by the organization's leadership.

Question 11

External factors affecting a business environment also be referred to ___factors.
A)controllable.
B)uncontrollable.
C)relevant.
D)global

Accepted Answer

External factors affecting a business environment are considered uncontrollable because businesses typically cannot influence or change these factors. These include economic conditions, competition, laws and regulations, and technological changes.

Question 12

Study of human population is called as _____ environment.
A)political.
B)social.
C)demographic.
D)economic

Accepted Answer

Demography is the statistical study of populations, especially human beings. It encompasses the study of the size, structure, and distribution of these populations, and spatial or temporal changes in them in response to birth, migration, aging, and death. Thus, the study of human population is referred to as the demographic environment.

Question 13

IN which year the essential commodities act introduced___.
A)1954.
B)1955.
C)1956.
D)1957.

Accepted Answer

The Essential Commodities Act was introduced in the year 1955 in India.

Question 14

Which is the one not included in national culture?
A)Language.
B)Internet.
C)Belief.
D)Attitude.

Accepted Answer

National culture typically encompasses elements such as language, beliefs, and attitudes that are shared by a group of people within a nation. The Internet, however, is a global network that does not belong to any single culture or nation. It is a tool for communication and information sharing that transcends national boundaries.

Question 15

Culture spreads from one place to anther and such transmission is called as ________.
A)difference.
B)reputation.
C)adoption.
D)heritage.

Accepted Answer

The answer of Culture spreads from one place to anther...

Question 16

An attitude composed of effect____.
A)flextime.
B)cognition.
C)relationship.
D)culture.

Accepted Answer

An attitude is composed of three components: affect (feelings/emotions), cognition (thoughts/beliefs), and behavior. Cognition refers to the thoughts or beliefs one has about an object or situation, which is why it is the correct choice in this context.

Question 17

What is the main occupation of Kshatriyas?
A)engage in cleaning.
B)engaged in trade.
C)engaged in army work.
D)none of the above

Accepted Answer

Kshatriyas are traditionally the warrior class in the Hindu Varna system, primarily responsible for protecting society by fighting in wars and serving in the military.

Question 18

A systematic application of scientific knowledge to practical task is known as________.
A)technology.
B)culture.
C)demograpic.
D)legal.

Accepted Answer

Technology is the application of scientific knowledge for practical purposes, especially in industry.

Question 19

___ is defined as systematic assessment of the social impact of the activities of a business firm.
A)Social audit.
B)Social responsibility.
C)Social interaction.
D)Social benefit.

Accepted Answer

Social audit is the correct term for the systematic assessment of the social impact of the activities of a business firm. It evaluates a firm's involvement and effectiveness in social responsibility.

Question 20

What are the elements of business ethics?
A)Values rights and duties.
B)attitudes pressure and environment.
C)value environment and attitude.
D)Responsibilities.

Accepted Answer

Business ethics fundamentally involve the values, rights, and duties inherent in the conduct of business. These elements focus on the moral principles and standards that guide behavior in the world of commerce.

Quiz 7: Understanding Business Environment and Ethics

In which of the following basic categories can business environment be divided?

____ is a statement Which derives the role that an organization plays in a society.

Economic environment refers to all forces which have a _____.

______environment is with in the control of the business.

____ environment is beyond the control of the business.

Micro environment is also called as ________.

Macro environment is also called as _______.

The environment which is close to business and affect its capacity to work is known as ___environment.

Factors that create opportunities and threats to business units is known as_______.

Internal factors affecting a business environment also are referred to ____factors.

External factors affecting a business environment also be referred to ___factors.

Study of human population is called as _____ environment.

IN which year the essential commodities act introduced___.

Which is the one not included in national culture?

Culture spreads from one place to anther and such transmission is called as ________.

An attitude composed of effect____.

What is the main occupation of Kshatriyas?

A systematic application of scientific knowledge to practical task is known as________.

___ is defined as systematic assessment of the social impact of the activities of a business firm.

What are the elements of business ethics?