Higher Study | Business Environment and International Business | Concepts and elements of business environment

Which of the following does not fall in the ambit of the objectives of Competition Act, 2002?

ক

Encourage Competition

খ

Prevent abuse of dominant position

গ

Prevent monopolistic rights are arising out of intellectual property

ঘ

Regulate mergers and acquisitions

Which one of the following is NOT correct according to the Consumer Protection Act? 1. District Forum shall consist of a lady social worker 2. State Commission shall consist of a person who is or has been a Judge of a High Court 3. District Forum shall consist of four members 4. National Consumer Disputes Redressal Commission shall consist of a person who is or has been a Judge of the Supreme Court

ক

1

খ

2

গ

3

ঘ

4

Assertion (A) : The volume of imports tends to be very high when there is a conjecture of high rate of economic growth and a sharp fall in the relative price of imports and vice versa. Reason (R) : High rate of growth, ceteris paribus, is associated with rise in imports and increase in the imports, ceteris paribus, is associated with a fall in the relative price of imports.

ক

Both (A) and (R) are correct and (R) is the right explanation of (A).

খ

Both (A) and (R) are correct but (R) is not the right explanation of (A).

গ

(A) is correct but (R) is not correct.

ঘ

(R) is correct but (A) is not correct.

What is FEMA?

ক

First Exchange Management act

খ

Foreign Exchequer Management act

গ

Foreign Exchange Management act

ঘ

Foreign Evaluation Management act

In which year was the Consumer Protection Bill passed by the houses of Parliament?

ক

1981

খ

1994

গ

1986

ঘ

1991

Which one of these are consumer rights specified in the Consumer Protection Act, 1986?

ক

Right to safety

খ

Right to choose

গ

Right to Consumer education

ঘ

All of the above

Which of the following is NOT an external factor acting as a barrier to entrepreneurship?

ক

Socio-cultural factors

খ

Economic condition

গ

Experience

ঘ

Competition

There are various impacts of government policy changes on business and industry. Out of the following options, which is NOT true about the given statement?

ক

Government is making these policies only to attract votes

খ

Rapidly changing technological environment creates tough challenges before smaller firms.

গ

More demanding customers as they are more aware and are offered wider choice in purchasing better quality of goods and services due to high competition.

ঘ

Increasing competition for Indian firms due to changes in the rules of industrial licensing and entry of foreign firms.

Which of the following is not the right of the consumer to be protected as mentioned under the Consumer Protection Act, 1986?

ক

Right to Consumer Education

খ

The right to be informed about quality and purity of the goods sold

গ

The right to seek redressal against unfair trade practice and unscrupulous exploitation of consumer

ঘ

Right to get branded goods at low price in the nearby shop

Which one of the following statements defines the correct meaning of the term “boundary spanning” ?

ক

It refers to an obligation of an individual, firm or institution to account for its activities and accept responsibility for them.

খ

It refers to the process that helps the organization and its employees to link with their external environment through specific activities/functions.

গ

It refers to the science of morals, principles and rules of conduct.

ঘ

It refers to multiculturism management.

Which of the following statements is not correct relating to consumerism ?

ক

Consumerism is a manifestation of the failure of the business to guarantee and ensure consumer legitimate rights.

খ

The government does not have any role in consumer protection as it is the part of business organisations alone.

গ

The consumers should accept consumerism as a means of asserting and enjoying their rights.

ঘ

Consumerism evolution is not a set-back for marketing but rather points to the next stage in the evolution of enlightened marketing.

For the following two statements regarding infrastructural services in the country, choose the correct code for the statements being correct or incorrect. Statement I: Most infrastructure services are provided by public monopolies which generally suffer with severe problems like lack of accountability, low productivity, poor financial performance and over-employment. Statement II: There is a need now to induce more private sector investment and participation in sharing, accountability, monitoring and management of infrastructure sector.

ক

Both I and II are correct

খ

Both I and II are incrorrect

গ

I is incorrect but II correct

ঘ

I is correct, but II is incorrect

Assertion (A): Reserve Bank of India is an important regulatory and administrative authority to execute FEMA provisions. Reason (R): Being monetary authority and custodian of foreign exchange, Reserve bank of India enjoys requisite expertise of FEMA administration. In the context of the above two statements, which one of the following option is correct?

ক

Both A) and R) are correct and R) is the right explanation of A)

খ

Both A) and R) are correct but R) is not the right explanation of A)

গ

Both A) and R) are incorrect

ঘ

A) is correct and R) is not correct

Which one is odd? 1. Economic Policies 2. Economic Planning 3. Socio-cultural factors 4. Macroeconomic scenario

ক

1

খ

2

গ

3

ঘ

4

Which of the following laws does not affect business organizations?

ক

Incorporation and Bankruptcy laws

খ

Environmental Protection Laws

গ

Occupational Health and Safety Laws

ঘ

Competition Laws