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MP Board Class 12 (MPBSE) Business Environment — practice questions

Explore 14 free Business Environment questions in MP Board Class 12 (MPBSE) Business Studies. Open each question or exercise to read its content, reference answers and available explanation.

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Business Environment questions and exercises with answers

Showing questions 1–14 of 14.

Business environment refers to the:Read the answer and worked solution →Which of the following is a key feature of the business environment?Read the answer and worked solution →The dimension of the business environment that includes interest rates, inflation and income levels is the:Read the answer and worked solution →The dimension of the business environment relating to customs, traditions and values of society is the:Read the answer and worked solution →The 1991 New Economic Policy of India is associated with the three processes of:Read the answer and worked solution →Reducing government restrictions and licensing requirements on business is called:Read the answer and worked solution →Giving a greater role to the private sector and reducing that of the public sector is called:Read the answer and worked solution →Integrating a country's economy with the world economy through freer trade and capital flows is called:Read the answer and worked solution →The 2016 step of withdrawing ₹500 and ₹1000 notes as legal tender is known as:Read the answer and worked solution →Understanding the business environment helps a firm to:Read the answer and worked solution →The dimension of the business environment covering scientific improvements and innovations is the:Read the answer and worked solution →The legal environment of business includes:Read the answer and worked solution →A firm that fails to adapt to a changing business environment is most likely to:Read the answer and worked solution →Rule on these claims about businessRead the answer and worked solution →

Worked practice questions

Business environment refers to the:

  1. sum total of all external forces and institutions affecting a business
  2. accounting records of a firm
  3. list of a company's employees
  4. internal departments of a company only
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Correct answer: A. sum total of all external forces and institutions affecting a business

Business environment = all external forces/institutions affecting a business.

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Which of the following is a key feature of the business environment?

  1. it affects no business decisions
  2. it is dynamic and keeps changing
  3. it is completely static
  4. it is fully controllable by one firm
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Correct answer: B. it is dynamic and keeps changing

A key feature: it is dynamic and constantly changing.

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The dimension of the business environment that includes interest rates, inflation and income levels is the:

  1. social environment
  2. economic environment
  3. political environment
  4. technological environment
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Correct answer: B. economic environment

Economic environment covers interest rates, inflation, income, etc.

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How to practise

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More Business Studies topics

Consumer ProtectionFinancial ManagementOrganisingPlanningPrinciples of ManagementMarketing Management