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UGC NET Commerce Business Environment MCQ

July 18

  1. The central bank can significantly influence the savings, investments and consumer spending

in the economy through which of the following policy ?

(1) Fiscal Policy (2) Monetary Policy

(3) Industrial Policy (4) Foreign Exchange Policy

  1. Which one of the following is not the characteristic of capitalism ?

(1) Individuals and associations behave with economic motive of maximising their profit

with least sacrifice or cost.

(2) The country’s major means of production are either owned by the Government or their

use is controlled by the Government.

(3) Producers, consumers and employees compete among themselves, as the resources and

opportunities are limited.

(4) Price, the invisible hand, plays a predominant role in the flow of the factors of production

and consumption.

  1. Which of the following is not the salient feature of the industrial policy developments since

1991 ?

(1) The scope of the private sector has been enormously expanded.

(2) Public sector has been withdrawing partially or fully from several of the enterprises by

divestment.

(3) The Indian industry is increasingly exposed to foreign competition.

(4) Monopoly or dominant position for the public sector in most of the industries and

control of the commanding heights of the economy by the public sector.

  1. Which of the following does not form the part of the important information to be incorporated

in the Memorandum of Association as specified in the Companies Act, 2013 ?

(1) The name of the company and the state in which it is situated.

(2) The objects for which the company is proposed to be incorporated.

(3) The rules, regulations and bye-laws for the internal management of the company.

(4) The liability of the members of the company, whether limited or unlimited.

  1. Which of the following statements is not correct relating to consumerism ?

(1) Consumerism is a manifestation of the failure of the business to guarantee and ensure

consumer legitimate rights.

(2) The government does not have any role in consumer protection as it is the part of

business organisations alone.

(3) The consumers should accept consumerism as a means of asserting and enjoying their

rights.

(4) Consumerism evolution is not a set-back for marketing but rather points to the next

stage in the evolution of enlightened marketing.

  1. Which one of the following is not covered in the approach adopted by “Niti Aayog” ?

(1) Five year planning approach (2) Three year action agenda

(3) Seven year strategy (4) Fifteen year vision

Nov 17

  1. From the following statements of Assertion (A) and Reasoning (R), indicate the correct

code :

Assertion (A) : Industrial liberalisation became an imperative condition for the growth of forces of competition leading to high efficiency and productivity in Indian industries.

Reasoning (R) : Industrial development and curbing of poverty is only possible through government intervention.

Code :

(1) (A) and (R) both are not correct.

(2) (A) is correct but (R) is not the correct explanation of (A).

(3) (A) is correct and (R) is correct explanation of (A).

(4) (A) is not correct but (R) is correct.

  1. Which of the following statements are not correct ?

Statement (I) : Sustainable development means an attempt to achieve the balance between economic growth and conservation / protection of environment.

Statement (II) : Sustainable development means meeting the needs of industries without compromising the needs of import – export balancing.

Statement (III) : Sustainable development means creation of sufficient surplus budgets through stock of capital assets including land.

Code :

(1) Statements (I) and (III) (2) Statements (II) and (III)

(3) Statements (I) and (II) (4) Statements (I), (II) and (III)

  1. Match items of List – I with List – II relating to macro environment of business and indicate the code of correct matching :

List – I List – II

(a) Economic environment (i) Ethical issues

(b) Political and government (ii) Trade and transport policies environment

(c) Socio – cultural environment (iii) Economic stratification of population

(d) Demographic environment (iv) Judiciary powers

Code :

(a) (b) (c) (d)

(1) (ii) (iv) (i) (iii)

(2) (i) (iii) (ii) (iv)

(3) (iv) (ii) (iii) (i)

(4) (iii) (i) (iv) (ii)

  1. For which one of the basic reasons, the “Structural Adjustment Programme” was undertaken

in India in 1991 ?

(1) Curbing competition among private sector

(2) Establishing predominant role of public sector

(3) Establishing a free market economy

(4) Regional balancing through planning and licensing

  1. Match the items of List – I with List – II and indicate the correct code of matching :

List – I List – II

(a) Micro external environment (i) Economic and political factors

(b) Macro external environment (ii) Competition among diverse products

targetting disposable income of consumers

(c) Non – price competition (iii) Input suppliers

(d) Desire competition (iv) Sponsoring of events like sports

Code :

(a) (b) (c) (d)

(1) (iii) (i) (iv) (ii)

(2) (ii) (iii) (iv) (i)

(3) (iv) (ii) (iii) (i)

(4) (iv) (i) (ii) (iii)

Jan 17

  1. Assertion (A) : Corporate culture is generally considered as either closed and threatening

or as open and participatory.

Reason (R) : Corporate culture and style of functioning of top managers is important

factor for determining the internal environment of a company.

Codes :

(1) (A) is correct, but (R) is incorrect.

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

(3) Both (A) and (R) are correct, but (R) is not the correct explanation of (A).

(4) (R) is correct, but (A) is incorrect.

  1. Statement I : If the workers develop an attitude of non-cooperation with Management, a

repressive economic system may be needed to set right this industrial disorder.

Statement II : By fulfilling social responsibility towards shareholders, employees,

consumers, government and community, a business achieves economic growth and

increases public image.

Codes :

(1) Statement I is correct, but II is incorrect.

(2) Both the statements I and II are correct.

(3) Statement II is correct but I is incorrect.

(4) Both the statements are incorrect.

  1. Match the items of List-I with List-II.

List – I List – II

  1. Planning Commission i. 1993
  2. Competition Act ii. 2002
  3. Adrian Cadbury Committee iii. 1951
  4. Rangrajan Committee on Disinvestment in

PSEs

  1. 1991

Codes :

a b c d

(1) i ii iii iv

(2) iii i iv ii

(3) iii ii iv i

(4) iii ii i iv

  1. From which Five Year Plan “Growth with Social Justice” has received emphasis ?

(1) 5th (2) 6th

(3) 7th (4) 10th

  1. Which of the following is not the objective of the Competition Act, 2002 ?

(1) Prohibition of Restrictive Trade Practices.

(2) Prohibition of Dominant Position

(3) Prohibition of Anti-competitive Agreements

(4) Regulation of Combinations

Aug 16

  1. Assertion (A) : Industrialization is the sine-qua-non of economic progress.

Reasoning (R) : Government is committed to rapid and balanced industrialization of the

country with a view to benefitting common man.

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

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

(3) (A) is true but (R) is false.

(4) (A) is false but (R) is true.

  1. Match the items in Column – I to the items in Column – II :

Column – I Column – II

  1. Fiscal deficit i. Market Securities
  2. SEBI ii. Government expenditure
  3. RBI iii. Economic growth
  4. National Income iv. Monetary policy

Codes :

a b c d

(1) ii iv iii i

(2) iii i iv ii

(3) i ii iii iv

(4) i iv ii iii

  1. Withdrawl of government from a sector partially or fully is known as

(1) Modernization (2) Liberalization

(3) Privatization (4) Globalization

  1. In case the amount claimed by the consumer is ` 89 lakhs, then which of the following

will handle the case ?

(1) District consumer redressal forum

(2) State consumer dispute redressal commission

(3) National consumer dispute redressal commission

(4) Supreme Court of India

P3

  1. Assertion (A) : Globalization is a process of global integration of products,

technology, labour, investment, information and even cultures.

Reasoning (R) : As a part of economic reforms in the country globalization is the result

of internal economic compulsions and external pressure of

international community.

Codes :

(1) (A) and (R) both are correct and (R) is correct explanation of (A).

(2) (A) and (R) both are correct, but (R) is not correct explanation of (A).

(3) (A) is true, but (R) is false.

(4) (A) is false, but (R) is true.

  1. Read the following statements and find the correct option :

Statement – I : The 1991 industrial reforms exempted all industries from compulsory

licensing.

Statement – II : Still there are a few industries under compulsory licensing.

Codes :

(1) Only Statement – I is correct.

(2) Only Statement – II is correct.

(3) Statements – I and II both are correct.

(4) Statements – I and II both are not correct.

  1. Match the items in Column – I to those of Column – II :

Column – I Column – II

  1. Demand for packaged food i. Economic factor
  2. Strike in factory ii. Social factor
  3. Lower interest rate iii. Political factor
  4. New production method iv. Technological factor

Codes :

a b c d

(1) ii i iii iv

(2) i ii iii iv

(3) ii iii i iv

(4) i iv ii iii

July 16

  1. For the following statements of Assertion (A) and Reasoning (R) indicate the correct code

from the alternatives given :

Assertion (A) : Liberalization means corporatisation of departmental undertakings

and public undertakings.

Reasoning (R) : Freedom to public sector undertakings to access capital market.

Codes :

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

(2) Both (A) and (R) are true but (R) is not a correct explanation of (A).

(3) (A) is true but (R) is false.

(4) (A) is false but (R) is true.

  1. Match the items of List – I with List – II and indicate the correct code :

List – I List – II

  1. Fiscal Policy i. Mitigation of National hazards
  2. Technology Policy ii. Balance of Payment
  3. Macro-Economic Policy iii. Fiscal Federalism
  4. Monetary Policy iv. Inflation

Codes :

a b c d

(1) i ii iii iv

(2) iii i ii iv

(3) iv iii i ii

(4) ii i iv iii

  1. Which of the following factor is not directly responsible for slowing down the growth of

infrastructure ?

(1) High level of perceived political risk.

(2) High level of sunk cost.

(3) High probability of time and cost over-run.

(4) Introduction of competition in all sectors.

  1. Out of the following which is not a major component of Gross Domestic Product (GDP) ?

(1) Personal Consumption Expenditure

(2) Gross Private Domestic Investment

(3) Net Personal Income

(4) Net Exports

  1. Which of the following is not a forum of Consumer Dispute Redressal System ?

(1) Local forum (2) District forum

(3) State Forum (State Commission) (4) National Commission

  1. To become a director in a company the person must obtain

(1) Business Licence (2) Director’s Licence

(3) TIN (4) DIN

  1. Which of following is not a “Maharatna” industry in India ?

(1) CIL (2) SAIL

(3) OIL (4) GAIL

Dec 15

1 Environmental degeneration does mot consist of :

  • Land degeneration and soil erosion
  • Problem of over grazing and ecological degeneration
  • Floods
  • None of the above

2 Which of the following is not the main objective of “Fiscal Policy of India” ? 01) To increase liquidity in ecomomy

  • To promote price stability
  • To minimize the inequality in income and wealth
  • To promote employment opportunities

3 Liberalization means. :

  • Reducing nomber of reserved industries from 17 to 8
  • Liberating the industry, trade and economy from unwanted restriction
  • Opening up economy to the world by attaining international competitiveness
  • Free determination of interest rate

4 Assertion (Aj: Industralization of an economy is considered synonymous with grow th.

Reasoning (RK): The transfer of resources from agrarian to industrial may be capital or labour or both,

Codes :

  • Both (A) and (R) are te and (R) is correct explanation of (A).
  • Both (A) and (R) are true but (R) i not the correct explanation of (A).
  • (A) is true but (R) is false.
  • (A) is false but (R) is true

5 Globalization is the term used to describe process of removal of restriction on which one of the following 7

  • Foreign trade
  • Investment
  • Both (1) and (2)
  • (4) None of the above

6 Interest on loan taken for the purchase of fimed assets is a :

(1) Revenue Expenditure (2) Capital Expenditure

(3) Deferred Revenue Expenditure (4) Capital Loss

 

 

 

 

 

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