Business Environment Multiple Choice Question MCQ
Categories: BUSINESS EDUCATION Multiple Choice Question
Q.1: Which is not a component of specific forces of the business environment? (a) Customers (b) Technological conditions (c) Investors (d) Employees Answer: B, Technological conditions. Q.2: How to show the elements of the method of production? (a) Capital Investment (b) Wage labour (c) Entrepreneurial (d) Cooperative. Answer: B, Wage labour. Q.3: How to show the role of government in business? (a) Positive (b) Negative (c) Neutral (d) None of the above Answer: C, Neutral. Q.4: Name the things that help the development of the business? (a) Technological innovation (b) Capital investment (c) Economic growth (d) Trade liberalisation. Answer: B, Capital investment. Q.5: What is the general concept of business ethics? (a) Ethical principles follow a universal truth. (b) All people involved in business should act in a morally correct way. (c) The way of doing business should be fair and honest. (d) None of the above. Answer: D, None of the above. Q.6: What is the major component of business ethics? (a) Ethics (b) Ethical principles (c) Rules of behaviour. (d) All of the above. Answer: A) Ethics. Q.7: Which of the following is not a major component of ethical business practice? (a) Honesty (b) Self-respect (c) Respect for law and public opinion. (d) None can be answered. Answer: D, None can be answered. Q.8: What are business ethics? (a) Ethics of the company (b) The ethical theory of the company. (c) Rules and policies. (d) Compromise between ethics and customs. Answer: D, Compromise between ethics and customs. Q.9: What are the basic components of business ethics? (a) Morality (b) Business practice (c) Principles and values. (d) All of the above. Answer: D, All of the above. Q.10: Which of the following is not a profit-making objective of most businesses? (a) Leading product and customer satisfaction (b) Aggressive competitive pricing policy. (c) All of the above. (d) None can be answered. Answer: D, None can be answered. Q.11: What is the goal of business? (a) Maximising profit (b) Maintaining customer satisfaction. (c) Solving customer problems. (d) All of the above Answer: A, Maximizing profit. Q.12: What is the role of management in business? (a) Managerial skills are essential for the success of any enterprise. (b) Managerial skills should not be emphasised because only a few people can achieve true greatness. (c) Management and leadership skills are essential for the success of any enterprise. (d) None can be answered. Answer: D, None can be answered. Q.13: What is the primary mode of satisfying customer needs? (a) Trade-in cash or barter (b) Production (c) Production by contracting out (d) All of the above Answer: D, All of the above. Q.14: Which of the following is not a part of industrial policy? (a) Tariff reduction (b) Subsidies to industry (c) Change in the corporate tax regime. (d) All of the above Answer: D, All of the above. Q.15: Which of the following industries are considered natural monopolies? (a) Banking industry (b) Railways (c) Electricity generation industry (d) All of the above. Answer: D, All of the above.