Classical

Business Environment - Business Environment Questions

21:  
Consumers have the rights
(i) to be protected against goods and services that are hazardous to life and property.
(il) to assure wherever possible access to a variety of goods; and services at national prices.
A.

Both (i) and (il) are correct.

B.

Both (i) and (il) are wrong

C.

Only (i) is correct.

D.

Only (ii) is correct.

 
 

Option: A

Explanation :

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22:  
Arrange the following Acts in the order in which they came into force.
(i) The Monopolies Restrictive Trade Practices Act
(ii) Indian Contract Act
(iii) The Sale of Goods Act
(iv) The Foreign Exchange Management Act
A.

(il), (iii), (i), (iv)

B.

(iii), (i), (iv) and (ii) 

C.

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

D.

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

 
 

Option: A

Explanation :

MRTP act-1969

Indian Contract 1872

Sale of goods act 1930

FEMA 1999

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23:  
Match the following components of Business Environment.
(a) Economic Environment                  (i) Exim Policy
(b) Social Environment                        (ii) Customs
(c) Political Environment                     (iii) Social values
(d) Legal Environment                         (iv) Business Law and Banking Act
A.

(a)   (b)    (c)     (d)

(i)    (ii)    (iii)    (iv)

B.

(a)   (b)    (c)     (d)

(iii)    (iv)    (ii)    (i)

C.

(a)   (b)    (c)     (d)

(iii)    (i)    (ii)    (iv)

D.

(a)   (b)    (c)     (d)

(i)    (ii)    (iv)    (iii)

 
 

Option: A

Explanation :

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24:  

What is the full form of IRDA?

A.
Industrial Regulation & Development Authority
B.
Insurance Regulatory & Development Authority
C.
Indian Regulation Development Authority
D.

none of these

 
 

Option: B

Explanation :

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25:  
Statement (A). In the context of globalisation, the most important challenge facing India is to boost exports.
Reason (R). It may increase the country's growth rate.
A.
Both (A) and (R) are true and (R) is the correct explanation of (A).
B.
Both (A) and (R) are true and (R) is the uncorrect explanation of (A).
C.

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

D.

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

 
 

Option: A

Explanation :

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