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HOLY CROSS COLLEGE(AUTONOMOUS) TIRUCHIRAPALLI 2. BUSINESS ADMINSTRATION: BUSINESS ENVIRONMENT I. Choose the Best Answer: 1.

. The macro forces of business environment can be a) Controllable b) Uncontrollable c) Adjustable . 2. Demographic environment refers to at a) Composition of population b)personality c)level of income

d) None of these d) None of these

3. The introduction of private ownership in the publicly owned enterprises results in a) Privatization b) Denationalization c) Private management d) Globalization 4. The global corporations that enter for the business operation world wide as much as it can is also known as a) Multinational Corporations b) Foreign business firms c) Both a & b d) None of these. 5. Industrial peace is one of the most important objectives of a) Business House b) Workers Participation c) Organization & Management . 6. A policy regarding the retrenchment of the surplus of manpower is known as a) Labour policy b) Exit policy c) Economic policy d) Both a & b. 7. A monopoly right granted by law to commercial use of an invention a) Monopoly right b) Patent right c) Both a & b d)Copy Right. d) None of these

8. Consumers have complete freedom of choice of consumption in a) Mixed Economy b) Capitalism c) Socialism d) communism 9. Government policy concerned with revenue through taxation and pattern of expenditure is called a) Economic Policy b) Fiscal policy c) Monetary Policy d) Import policy 10. Consumer Protection Act applies to a) Private sector only b) public sector only c) All private, public and co-operative sectors

11. The group whose potential interest in the company influences the companys ability to achieve its objectives is known as: a) Public b) Financiers c) Suppliers d) Competitors 12. The Industrial policy resolution for business environment was designed in the year: a) 1990 b)1956 c) 1980 d)1948 13.The right which is used to protect the consumer against unfair trade practices is: a) Right to choose b) Right to be heard c) Right to be informed d) Right to consumer education 14. Introducing different brands in the same product line is known as a) Diversification b) Product proliferation c) Standardization 15. Pick out the macro environmental factor from the factors given below: a) Suppliers b) customers c) competitors d) WTO principle 16. A percentage of the deposits in the form of balances with the central bank Represents (a)Cash Reserve Ratio (b) Liquidity Ratio (c)Interest Ratio (d) Credit Ratio 17. The instrument which affects the cost and availability of credit is (a)Bank rate policy (b) Open market operations (c) Reserve ratio (d) Liquid ratio 18. Franchising is a form of (a) Privatization (b) Nationalization (c) Deregulation (d) None of the above (d) All people d) thinning down

19. Public distribution system is meant to assist (a)Poor (b)) Middle class (c) Upper middle class 20. Match Panel: 1. Customers and competitors 2. Budget 3. Moral suasion 4. Climatic condition and resources a) 1d, 2c, 3b, 4e b) 1c, 2a, 3d, 4b

- a) Fiscal policy - b) Natural Environment - c) Micro Environment - d) Monetary Policy - e) Macro Environment c) 1b, 2e, 3a, 4d d) 1c, 2a, 3d, 4e

10. Match Panel: 1. Consumer Protection Act 2. RBI Act 3. Business 4. Workers participation

i) Industrial peace ii) 1934 iii) 1935 iv) Production & Distribution v) Profit vi) 1986 a) 1vi, 2ii, 3i, 4ivb) 1vi, 2ii, 3v, 4i c) 1ii, 2iii, 3iv, 4id) 1i, 2ii, 3iii, 4iv. 6. Worker participation in management was recommended by (a) Sachar committee (b) Sitchar committee (c) Rangem committee (d) None of the above 7. Administered prices are fixed by (a) Government (b) parliament (c) State (d) All of them 9. Public accountability is there on (a) Private sector (b) Public sector (c) Industrial sector (d) Agricultural sector II. Answer in a sentence or TWO: 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Define the term Business. What is Business ethics? Give the meaning of Capitalism. What are Directive principles? Write the meaning of Globalization. What is MNC? Give a brief note on VRS. State any two objectives of workers participation in management. What is a Patent right? What do you understand by Brand?

5. Assertion: The purpose of business is to create a customer Reason: The customer is the foundation of business and keeps it in existence a) Both assertion and reason statements are correct b) The assertion statement is not correct, but the reason statement is correct c) The assertion statement is correct but the reason statement is not correct d) Both assertion and reason statements are wrong. II. Answer briefly in ONE or TWO sentences: 6. Define the term business environment. 7. What is macro environment? 8. What is Mixed economy? 9. What is Fiscal Policy? 10.Who can file a complaint as per the Consumer Protection Act? 4. Match the panel: 1. Extractive industries 2. Genetic industries a) Steel b) Kerosene

a) 1c, 2d, 3e, 4b b) 1a, 2d, 3b, 4c c) 1c, 2d, 3b, 4e

3. Analytical industries 4. Synthetical industries

c) Fishing d) Hatcheries e) Cement d) 1d, 2a, 3c, 4b.

5. Assertion: Firms which fail to adapt to their environment are unlikely to survive in the long run Reason: Environmental understanding makes the management sensitive to the changing needs and expectations of consumer. a) The assertion statement is correct and the Reason statement is correct and not appropriate. b) The assertion statement is correct and the Reason statement is correct and appropriate. c)The Assertion statement is correct and the Reason statement is wrong. d)The Assertion statement is wrong and the Reason statement is correct Answer in a sentence each: 6. Define the term Business Environment. 7. What do you mean by Micro Environment? 8. What is an Economic System? 9. Define capitalism. 10. What do you understand by mixed economy? 10. Match panel: 1. Monetary policy 2. Fiscal policy 3. Bank Rate 4. Reserve Ratio i) 1d, 2f, 3c, 4a iii) 1d, 2a, 3f, 4c

a. discounting bills b. purchase of securities c. balances with RBI d. credit control e. planning f. budget ii) 1d, 2f, 3a, 4c iv) 1f, 2d, 3a, 4c

Answer in a sentence or two: 11. Define business. 12. State any two entry barriers. 13. State any two features of mixed economy system. 14. What is meant by fiscal policy? 15. What is privatization? 16. What is exit policy? 17. Explain labour standard. 18. What is a trade union? 19. What do you mean by indirect control? 20. Explain internationalization.