Unit 5 - BUSINESS ENVIRONMENT- BBA 2nd Sem
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Question 1: What does the term globalisation refer to in the context of international business?
Correct!
Wrong :(
Answer - B
Description: Globalisation involves expanding business activities beyond national boundaries to engage in international trade and operations.
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Question 2: Which factor is NOT typically considered part of the international business environment?
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Wrong :(
Answer - C
Description: The international business environment encompasses political, cultural, and competitive factors, but domestic regulations are specific to a single country.
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Question 3: What is a key driver of the increasing interconnectedness of world economies?
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Answer - C
Description: Advances in technology and communication contribute to the interconnectedness of world economies by facilitating global trade and collaboration.
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Question 4: Which factor is a significant trend influencing world trade in recent years?
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Wrong :(
Answer - B
Description: The rise of regional trade agreements is a notable trend, reflecting increased economic cooperation among countries.
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Question 5: What is the primary objective of the World Trade Organization (WTO)?
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Answer - A
Description: The WTO aims to promote free and fair trade globally, facilitating the smooth flow of goods and services across borders.
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Question 6: How does the WTO contribute to dispute resolution in international trade?
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Wrong :(
Answer - B
Description: The WTO helps resolve trade disputes through negotiation and mediation rather than resorting to sanctions or protectionist measures.
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Question 7: What does PESTLE analysis help businesses assess in the international environment?
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Answer - C
Description: PESTLE analysis evaluates the impact of political, economic, social, technological, legal, and environmental factors on business operations.
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Question 8: Which of the following is an example of a cultural factor affecting international business?
Correct!
Wrong :(
Answer - B
Description: Language differences represent a cultural factor that can impact communication and business practices in the international context.
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Question 9: What term is used to describe the practice of sourcing goods and services from multiple countries to take advantage of cost differences?
Correct!
Wrong :(
Answer - B
Description: Outsourcing involves obtaining goods or services from multiple countries to benefit from cost differentials.
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Question 10: Which technology has played a significant role in accelerating global trade and supply chain efficiency?
Correct!
Wrong :(
Answer - B
Description: Internet and digital technologies have revolutionised global trade by enhancing communication and facilitating transactions.
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Question 11 : What is the primary role of the WTO in regulating international trade?
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Wrong :(
Answer - C
Description: The WTO serves as a platform for trade negotiations and dispute resolution to ensure fair and open global trade.
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Question 12: How does the WTO encourage transparency in international trade policies?
Correct!
Wrong :(
Answer - B
Description: The WTO promotes transparency by making trade-related information accessible to member countries and the public.
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Question 13: What is the term for a government policy that seeks to reduce the trade deficit by promoting domestic industries?
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Wrong :(
Answer - B
Description: Protectionism is a government policy aimed at shielding domestic industries from foreign competition.
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Question 14: In the context of international business, what is the purpose of market segmentation?
Correct!
Wrong :(
Answer - B
Description: Market segmentation involves identifying and targeting specific customer groups based on characteristics and preferences.
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Question 15: Which economic concept refers to a situation where two countries both benefit from trade by specialising in the production of goods they are relatively more efficient at producing?
Correct!
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Answer - B
Description: Comparative advantage is a fundamental economic concept where countries specialise in producing goods in which they have a relative efficiency.
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Question 16 : What is a significant impact of e-commerce on international trade?
Correct!
Wrong :(
Answer - C
Description: E-commerce has expanded the market reach of businesses, enabling them to reach customers globally.
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Question 17: How does the WTO contribute to promoting fair competition in international trade?
Correct!
Wrong :(
Answer - B
Description: The WTO works to eliminate unfair trade practices and promote fair competition among member countries.
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Question 18: What is the purpose of trade liberalisation, as advocated by the WTO?
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Wrong :(
Answer - C
Description: Trade liberalisation aims to promote free and open trade by reducing barriers and restrictions.
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Question 19: What is the term for a political and economic alliance among multiple countries, typically formed to achieve mutual benefits?
Correct!
Wrong :(
Answer - C
Description: A coalition refers to a political and economic alliance formed by multiple countries for mutual benefits, often in the context of international business.
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Question 20: In the context of the World Trade Organization (WTO), what is the purpose of trade negotiations among member countries?
Correct!
Wrong :(
Answer - D
Description: Trade negotiations within the WTO aim to achieve mutual agreements and concessions among member countries, promoting fair and open international trade.
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Question. What is/Introduction of Business Environment
Answer. Definition of Business Environment is sum or collection of all internal and external factors such as employees, customers needs and expectations, supply and demand, management, clients, suppliers, owners, activities by government, innovation in technology, social trends, market trends, economic changes, etc.
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