Class 12 Business Studies Chapter 3 MCQ and Important Questions of Business Environment for the academic session 2023-24. 12th Business Studies chapter 3 multiple choice questions and important questions provide extra revision for test yourself. Class 12 Business Studies Chapter 3 Solutions.
Class 12 Business Studies Chapter 3 MCQ
Which if the following is an example of economic environment?
Importance of Business Environment
- Identification of opportunities to get first mover advantage
- Identification of threats and early warning signals
- Tapping useful resources
- Coping with Rapid changes
- Assistance in planning and policy formulation
- Helps in improving performance
When was economic reforms programme introduced in the Indian economy?
What is the main constituents of economic reforms?
Which among the following is not opened form private sector participation in India?
What is meant by Globalisation?
Social Business Environment
It includes various social forces such as customs, beliefs, literacy rates, educational levels, lifestyle, values etc. Changes in social environment affect an organisation in the long run. Example: Now a days people are paying more attention towards their health, as a result of which demand for mineral water, Diet coke etc. has increased while demand of tobacco, Fast food products has decreased.
Which factor does not help in Globalisation?
Banning of single use plastics is an example of which kind of environment?
Which of the statement is true?
Legal Business Environment
It constitutes the laws and legislations passed by the Government, administrative orders, court judgements, decisions of various commissions and agencies. Example: Advertisement of Alcoholic products is prohibited and it is compulsory to give statutory warning on advertisement of cigarettes.
A business enterprise can influence its environment. True or False?
Demonetisation refers to
Reduction of interest on housing loans is an example of which environment?
Managerial response to changes in business environment
The impact of changes in economic policy of government has made managers aware of various areas where they have to focus to keep their business environment help them to take decision regarding increasing competition, the demands of customers and their expectations (consumer is the king), rapidly changing technological environment, necessity to adapt to change and need for developing human resources.
Budgetary support to public sector has increased as a consequence of the LPG. True or False?
Increase in the Sensex after Lok – Sabha election is an example of which environment?
The sum total of forces affecting the business in known as
Which statement is false?
How important are MCQs as far as chapter 3 class 12 business studies is concerned?
Chapter 3 “Business environment” is very important to understand the subject thoroughly. However, the weightage of the chapter has diminished over the last 3 years. Hence, to expect more number of questions as MCQs in class 12th chapter 3 Business studies chapter would be unwise.
What are the important topics for preparing MCQs in class 12 in chapter 3?
Dimensions of business environment which are social, political, economic, legal, technological are important from examination point of view and in particular- social and legal are important because students may be confused between the two.
Are we required to write the explanation for the correct answer in MCQ?
No, however we have provided explanation to MCQs so that students attain mastery over the subject.