Business Environment
331. PEST is an acronym which stands for
- duct, Economy, Society, Technology
- Political, Economic, Societal, Technological
- Political, Economic, Social, Technological
- People, Economy, Standards, Transport
Correct answer: (C)
Political, Economic, Social, Technological
332. An increase in the general level of prices, as measured against some baseline of purchasing power is also known as
- inflation
- recession
- deflation
- depression
Correct answer: (A)
inflation
333. Transfer of assets of a foreign firm to a domestic firm effected by the government with payment of compensation is
- Expropriation
- Appropriation
- Confiscation
- Domestication
Correct answer: (A)
Expropriation
334. A contract drafted under civil law differs from that drafted under common law in the following respect
- It will be detailed
- It will be shorter and less specific
- It will provide less severe damages
- It will be in detail
Correct answer: (B)
It will be shorter and less specific
335. Non- tariff trade barriers do not include
- administrative regulations
- export subsidiaries
- fiscal barriers
- quota
Correct answer: (B)
export subsidiaries
336. In India, the patent available for pharmaceuticals is
- for product only
- for process only
- both for product and process
- neither product nor process
Correct answer: (C)
both for product and process
337. To what extent of the world population is collectivist?
- 10- 20 per cent
- 40-50 per cent
- 70-80 per cent
- 90-95 per cent
Correct answer: (C)
70-80 per cent
338. Which economic factors should be analysed by organizations wishing to expand in international markets?
- Interest rates
- Employment
- Purchasing power
- All the above
Correct answer: (D)
All the above
339. The concept of a firm's 'license to operate' refers to
- a legal requirement for company registration
- the need for a firm to retain its legitimacy in the eyes of the public
- a qualification needed by company directors
- an agreement recognizing trade unions
Correct answer: (B)
the need for a firm to retain its legitimacy in the eyes of the public
340. A multi-national corporation (MNC) is defined by
- carrying out production in more than one country
- having sales in more than one country
- having a multi-ethnic workforce
- having suppliers in more than one country
Correct answer: (A)
carrying out production in more than one country