Business Environment and International Business MCQs

Question 1

Tax policy comes under which element of business environment?

Accepted Answer

Legal

Answer

Economic

Answer

Social

Answer

Political

Question 2

The redressal forum of consumer consists of

Accepted Answer

Both A and B

Answer

National Consumer Forum

Answer

District Consumer Forum

Answer

None of the above

Question 3

One Governor and one Substitute Governor of World Bank is appointed for

Accepted Answer

5 years

Answer

2 years

Answer

7 years

Answer

None of these

Question 4

Which of the following is not an objective of competition Act 2002?

Accepted Answer

Prohibition of Restrictive trade practice

Answer

Prohibition of abuse of dominant position

Answer

Prohibition of Anti competitive Agreements

Answer

Regulation of combinations

Question 5

Which one of the following pairs is not correctly matched?

Accepted Answer

ASEAN - Economic organization of all Asian nations

Answer

WTO - Generally forbids the use of quantitative restriction in trade

Answer

IMF - Provides finance to correct disequilibrium in balance of payments

Answer

SAARC - Promotes trade among South Asian countries

Question 6

Match the following List-I with List-Il and select the correct answer. List-I List-II a. Comparative Cost Theory of International Trade 1. Gottfried Haberler b. International Theory of Opportunity Cost 2. J. S. Mill c. Factor Endowment Theory of International Trade 3. David Ricardo d. Doctrine Of Reciprocal Demand 4. Hecksher Ohlin

Accepted Answer

a-3, b-1, c-4, d-2

Answer

a-3, b-2, c-4, d-1

Answer

a-1, b-3, c-2, d-4

Answer

a-2, b-1, c-4, d-3

Question 7

This integration includes free trade among members and it erects a common external tariff on imports from non-member countries?

Accepted Answer

Custom Unions

Answer

Preferential Trade Area

Answer

Economic Union

Answer

Common Market

Question 8

Arrange the following steps of 'international product life cycle theory' in a correct order. 1. Maturity stage 2. Introductory stage 3. Decline stage 4. Growth stage

Accepted Answer

2, 4, 1, 3

Answer

3, 1, 4, 2

Answer

4, 3, 2, 1

Answer

4, 2, 3, 1

Question 9

Which of the following has/have occurred in India after its liberalization of economic policies in 1991? (i) Share of agriculture in GDP increased enormously (ii) Share of India's exports in world trade increased (iii) FDI inflows increased (iv) India's foreign exchange reserved increased enormously Select the correct answer using the options given below:

Accepted Answer

(ii), (iii) and (iv) only

Answer

(i) and (iv) only

Answer

(ii) and (iii) only

Answer

(i), (ii), (iii) and (iv)