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Business Environment - Business Environment Section 1 Online Exam Quiz

Important questions about Business Environment - Business Environment Section 1. Business Environment - Business Environment Section 1 MCQ questions with answers. Business Environment - Business Environment Section 1 exam questions and answers for students and interviews.

1. By which act government checks restrictive trade?

Options

A : Industrial Policy Act 1991

B : MRTP Act

C : FEMA act

D : None of these

2. Which of the following does not fall within the jurisdiction of MRTP commission?

Options

A : Prevention of Monopolistic Trade practices

B : Prevention of Restrictive trade practices

C : Prohibition of Unfair Trade Practices

D : Regulation of Combinations

3. Liberalization means

Options

A : Reducing number of reserved industries from 17 to 8

B : Liberating the industry, trade and economy from unwanted restrictions

C : Opening up of economy to the world by attaining international competitiveness

D : Free determination of interest rates

4. When a company taken over another one and clearly becomes the new owner, the action is called

Options

A : Merger

B : Acquisition

C : Strategic Alliance

D : None of the above

5. Relaxing the restrictions and controls imposed on Business and industry means

Options

A : Liberalisation

B : Privatisation

C : Globalisation

D : None of the above

46. The MRTP Act of 1969 was abolished in

Options

A : 1991

B : 2002

C : 2006

D : None of the above

47. India abolished quantitative restrictions on imports of 1429 items in 2000 and 2001 as per the commitment to which of the following

Options

A : SAFTA

B : GATT

C : WTO

D : NAM

48. Micro factors of external business environment does not include

Options

A : Competitors

B : Customers

C : Government Policies

D : None of these

49. Assertion (A). The new Industrial policy was announced on July 24, 1991. Reason (R). The new industrial policy was announced by the V.P. Singh Government.

Options

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

B : Both (A) and (R) are true but (R) is not the correct explanation of (A).

C :

D :

50. Assertion (A). The industrialization of an economy is considered synonymous with growth. Reason (R). The transfer of resources from agriculture to the industry may be capital or labor or both.

Options

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

B : Both (A) and (R) are true but (R) is not the correct explanation of (A).

C :

D :

53. Core sector include

Options

A : Agricultural input

B : Iron and steel

C : Petroleum

D : All of the above

54. In the industrial policy resolution 1956, the industries reserved for public sectors were included in a schedule

Options

A : A

B : B

C : C

D : D

55. New industrial policy was introduced in

Options

A : 1990

B : 1991

C : 1992

D : 1993

56. In the industrial policy resolution 1956, the number of industries reserved for the private sector was

Options

A : 12

B : 15

C : 18

D : None of these

57. According to Dutt Committee, large industrial houses were ---- in the care sector

Options

A : Allowed

B : Not allowed

C : restricted to the sector

D : absent

58. In the industrial policy resolution 1956, industries where both private sector and public sector were allowed, were included in a schedule

Options

A : A

B : B

C : C

D : D

59. In the industrial policy 1991, which of the industries is reserved for the public sector?

Options

A : Railways

B : Coal

C : Automobiles

D : Iron and steel

60. Unfair trade practices are included in

Options

A : FERA

B : FEMA

C : MRTP Act

D : Anti-Laundering Act

61. Which is not an obstacle to the growth of globalization in India?

Options

A : Procedure delays

B : Resource limitations

C : Poverty

D : Literacy

62. Industries of basic nature were included in

Options

A : Core sector

B : Joint sector

C : Consumer sector

D : None of the above

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