Business Environment

251. Product liability law relate to

  1. Holding the manufacturer responsible for the damages caused to the genuine user of the product.
  2. Liability of the customer for illegitimate use of the product
  3. Liability of the seller for selling spurious goods
  4. Holding the manufacturer for advertising the false information
Correct answer: (A)
Holding the manufacturer responsible for the damages caused to the genuine user of the product.

252. The following is not a feature of globalisation

  1. Similar strategies are adopted by a firm in all markets
  2. Only multinational firms engage in international business
  3. Convergence of ideas and culture
  4. Obliteration of national boundaries
Correct answer: (A)
Similar strategies are adopted by a firm in all markets

253. Geographical indications specifies

  1. Place of origin of goods
  2. Special characteristics of the product associated with place of origin
  3. Place and special characters of the product
  4. Place or special characters of the product
Correct answer: (C)
Place and special characters of the product

254. To assess the potential of international markets, organizations generally compare nations with respect to

  1. political regime
  2. demographics, GNP/capita and 'consumer preferences'
  3. consumer preferences
  4. demographics, GNP/capita
Correct answer: (B)
demographics, GNP/capita and 'consumer preferences'

255. Income and population are two variables that can be used

  1. demographic segmentation
  2. Behavioural segmentation
  3. Lifestyle segmentation
  4. Psychographic segmentation
Correct answer: (A)
demographic segmentation

256. In the PEST framework for environmental analysis what does the letter E stands for

  1. Ethical
  2. Ecological
  3. Educational
  4. Economic
Correct answer: (D)
Economic

257. What does the term 'third sector' refer to?

  1. the high technology industries
  2. the service sector
  3. the voluntary sector
  4. small and medium sized enterprises (SMEs)
Correct answer: (C)
the voluntary sector

258. The system of government in a nation is called the

  1. Political system
  2. Economic environment
  3. Political environment
  4. National policy
Correct answer: (C)
Political environment

259. The protection against the new invention of a product or process for a defined period is

  1. patent
  2. trade mark
  3. copy right
  4. Technology
Correct answer: (A)
patent

260. The total accumulated value of foreign- owned assets at a given period of time is

  1. flow of FDI
  2. stock of FDI
  3. inflow of FDI
  4. outflow of FDI
Correct answer: (B)
stock of FDI
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