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Business Studies: CUET Mock Test - 3


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Business Studies: CUET Mock Test - 3 - Question 1

The term _______ means the totality of all individuals, institutions and other forces that are outside a business.

Business Studies: CUET Mock Test - 3 - Question 2

Which of the following is the feature of business environment?

Business Studies: CUET Mock Test - 3 - Question 3

The trend of Yoga as a result of COVID -19 relates to _______ environment of business.

Business Studies: CUET Mock Test - 3 - Question 4

Which of the following does not characterise the business environment?

Detailed Solution for Business Studies: CUET Mock Test - 3 - Question 4

Business environment is a relative concept as it differs from country to country and region to region, e.g. Demand for sarees is quite high in India but in foreign countries, it has no existence.

Business Studies: CUET Mock Test - 3 - Question 5

Which of the following best indicates the importance of business environment?

Business Studies: CUET Mock Test - 3 - Question 6

“The increase in the demand for many Ayurvedic medicines, Health products and services in the past few months, is related to the need for building immunity and an increased awareness for healthcare due to the spread of Corona virus.” Identify the feature of business environment being described above.

Business Studies: CUET Mock Test - 3 - Question 7

_______ consists of various macro-level factors related to the means of production and distribution of wealth which have an impact on business and industry.

Business Studies: CUET Mock Test - 3 - Question 8

‘Threats to law and order’ is an example of _______ environment of business.

Business Studies: CUET Mock Test - 3 - Question 9

Since more number of people have become more beauty and health conscious, our economy has witnessed an unprecedented surge in the number of health and beauty spas and wellness clinics.Related feature of business environment being described in the above lines is

Business Studies: CUET Mock Test - 3 - Question 10

With the introduction of mineral water bottle in India, Aqua was able to capture the big market share in India.Which importance of business environment is highlight in the above case.

Business Studies: CUET Mock Test - 3 - Question 11

‘Yo Tummy’ began its business by offering the classic combo of hamburgers and fries. But over time, their customers wanted healthier foods, so ‘Yo Tummy’ responded and began offering healthy alternatives such as salads, fruits, wraps and oat meal. If ‘Yo Tummy’ hadn’t responded, they may have lost customers that wanted to eat healthier foods. The above case highlights one of the points related to the importance of business environment and its understanding by managers. Identify it.

Detailed Solution for Business Studies: CUET Mock Test - 3 - Question 11

Money supply is the part of economic environment. Consumer protection act is the part of legal environment and Constitution of the country is the part of political environment.

Business Studies: CUET Mock Test - 3 - Question 12

By developing new ways of doing things, the firm can cope up with changing technological environment.

Business Studies: CUET Mock Test - 3 - Question 13

Threats refer to the internal environment trends and changes that will hinder a firm’s performance.

Detailed Solution for Business Studies: CUET Mock Test - 3 - Question 13

Threats refer to the external environment trends and changes that will hinder a firm’s performance.

Business Studies: CUET Mock Test - 3 - Question 14

Which of the following is not an element of social environment?

Business Studies: CUET Mock Test - 3 - Question 15

A firm can cope up with the changes by developing new ways of doing things.

Business Studies: CUET Mock Test - 3 - Question 16

Which of the following is a component of economic environment?

Business Studies: CUET Mock Test - 3 - Question 17

Black economy works as parallel economy to the main economy of a country.

Business Studies: CUET Mock Test - 3 - Question 18

The Rajasthan government has developed surveillance network using latest satellite technology. Under this system, the state’s mining department would be in a position to check illegal mining activities across the state. The state government is also considering the use of drones in its proposed campaign against illegal mining. Identify the related dimensions of business environment.

Business Studies: CUET Mock Test - 3 - Question 19

Which of the follow ing statem en ts is true with respect to political environment?

Business Studies: CUET Mock Test - 3 - Question 20

In accordance with the economic planning, the government of India gave a lead role to the public sectors for infrastructure industries whereas the private sectors was broadly given the responsibility of developing consumer goods industry. At the same time, the government imposed several restrictions, requisitions and controls on the working of private sector enterprises. Identify the dimension(s) of business environment highlighted above.

Business Studies: CUET Mock Test - 3 - Question 21

Directions: There are two statements marked as Assertion (A) and Reason (R). Read the statements and choose the appropriate option from the options given below

Assertion (A): Demand for sarees may be fairly high in India whereas it may be almost non-existent in France.
Reason (R): Business environment consists of numerous inter-related and dynamic conditions of forces which arise from different sources.

Detailed Solution for Business Studies: CUET Mock Test - 3 - Question 21

Business environment is a relative concept as it differs from country to country.

Business Studies: CUET Mock Test - 3 - Question 22

“Trends refer to changes and inclination towards new products and services”. This statement describes significant effect of which environment on business?

Detailed Solution for Business Studies: CUET Mock Test - 3 - Question 22

New trends in society lead to inclination of people towards new products and services. For example, increasing trends of physical fitness in the society has increased demand for gyms, diet supplements, mineral water, etc.

Business Studies: CUET Mock Test - 3 - Question 23

Directions: There are two statements marked as Assertion (A) and Reason (R). Read the statements and choose the appropriate option from the options given below

Assertion (A): Entry of new firms in the market may make an enterprise think afresh about how to deal with the situations.
Reason (R): Business environment assist in planning and policy formulation.

Business Studies: CUET Mock Test - 3 - Question 24

Directions: Read the follow in g text and answer questions on the basis of the same;

Mahinder Agro Ltd. started a new venture for distribution of harmful and chemical free fertilizers vegetables. They conducted a survey to find out customer preferences for such vegetables. They found that most of the customers were concerned about the harmful chemicals being used in growing the vegetables. They found out that 90% of the households were searching for alternatives. The company connected a group of agriculture experts to lay down the procedure for growing the vegetables by the farmers. They decided to train the farmers in new technology to grow chemical free vegetables according to new innovative methods. The experts also suggested soil management techniques through which farmers would be able to create an abundant and lasting harvest. Due to increased awareness for healthcare, demand for products of Maninder Agro Ltd. increased and thus the business flourished.

Q. “They found that most of the customers were concerned about the harmful chemicals being used in growing the vegetables. They found out that 90% of the households searching for alternatives.” Identify the dimension of business environment highlighted above.

Business Studies: CUET Mock Test - 3 - Question 25

Directions: Read the following text and answer questions on the basis of the same.
The name and taste of Coca-Cola is known to almost each and every individual in India as well as throughout the world. This carbonated soft drink holds the most market share in the soft drink market and got itself a special seat in each and every gathering. The Coca-Cola Company has on occasion introduced other cola drinks under the Coke name. The most common of these are Diet Coke, along with others including Caffeine Free Coca-Cola, Diet Coke Caffeine free, Coca-Cola Zero Sugar, Coca-Cola Cherry, Coca-Cola Vanilla and the list goes on. It has capitalised on each and every opportunity to market itself effectively and place itself in the middle of every gathering. The main reason for such an outstanding placement of product goes to the way they have established the connection between every occasion and the need for Coke to be present there, product design and creative advertising.    (CBSE QB 2021)

Q. Identify the feature of Business Environment which the Coca-Cola Company managed to get in their favour.

Business Studies: CUET Mock Test - 3 - Question 26

Directions: Read the following text and answer questions on the basis of the same.
Naman and Govind after finishing their graduation under vocational stream decided to start their own travel agency which will book Rail Tickets and Air Tickets on commission basis. They also thought of providing tickets within 10 minutes through the use of internet. They discussed the idea with their professor Mr. Mehta who liked the idea and suggested them to first analyse the business environment which consist of investors, competitors and other forces like social, political, etc., that may affect their business directly or indirectly. He further told them about the technological improvements and shifts in customer preferences that were taking place and hence, they should be aware of the environmental trends and changes which may hinder their business performance. He emphasised on making plants keeping in mind the threat posed by the competitors, so that they can deal with the situation effectively. This alignment of business operations with the business environment will result in better performance.

Q. Identify the component of business environment highlighted in the above paragraph.

Business Studies: CUET Mock Test - 3 - Question 27

‘Dreams can be turned into reality only when managers think in advance what to do and how to do it’. Identify the function of management indicated by the statement.

Business Studies: CUET Mock Test - 3 - Question 28

Which of the following statements is false with respect to planning?

Business Studies: CUET Mock Test - 3 - Question 29

Planning gives direction, reduces the impact of change, minimises waste and redundancy and

Detailed Solution for Business Studies: CUET Mock Test - 3 - Question 29

By stating in advance how work is to be done in future, planning provides direction for action. It clearly defines what the employees have to do, when to do, how to do and for whom to do.

Business Studies: CUET Mock Test - 3 - Question 30

“All other managerial functions are performed within the framework of the plans drawn. Thus, it can be said that planning preceeds other functions.” This statement describes which function of planning?

Detailed Solution for Business Studies: CUET Mock Test - 3 - Question 30

Planning lays down foundation for all other functions of management. First plans are formulated, then action is taken.

Business Studies: CUET Mock Test - 3 - Question 31

It requires application of mind involving foresight, intelligent, imagination and sound judgement. Which feature of planning is indicate here?

Business Studies: CUET Mock Test - 3 - Question 32

‘Bawa Cycles’ was in the business of manufacturing racing cycles and had a monopoly in the market. The business was doing well and the company was consistently meeting its objective of 10% increase in sales every year. Encouraged by the good track record, the Managing Director of the company kept an ambitious target of 15% increase in sales for the next year. The same year, two competitors also entered the market and because of this the company was not able to meet target. Identify the limitation of one of the functions of management because of which the company was not able to achieve its target.

Business Studies: CUET Mock Test - 3 - Question 33

Name the step in the process of planning which is considered “the real point of decision-making”.

Business Studies: CUET Mock Test - 3 - Question 34

“Planning is required at all levels of management as well as in all departments of the organisation. It is not an exclusive function of top management nor of any particular department. But the scope of planning differs at different levels and among different department.” Identify the feature/characteristic of planning highlighted above.

Business Studies: CUET Mock Test - 3 - Question 35

Karim decided to start a chocolates manufacturing business. He set the target of earning 10% profit on sales in the first year. As a good businessman, he was concerned about the future of the business, which was uncertain. He gathered the information that the demand for chocolates is increasing day-by-day. He used this information as the base for future planning and shared it with his team. On the basis of the gathered information, he scheduled a meeting in the following week to find innovative ways to achieve the objectives. Write the first step, which has been followed by Karim that is related to the process of one of the functions of management.

Business Studies: CUET Mock Test - 3 - Question 36

Having transformed 2,500 Kirana stores across eight cities into virtual super markets, the start-up ‘Quick Bizz’ further decided in advance, to collaborate with 15,000-20,000 store owners in top 30 cities of the country by the end of this year. Identify the step in the process of one of the functions of management discussed above.

Business Studies: CUET Mock Test - 3 - Question 37

The last step in the process of planning is “Plan Implementation.”

Detailed Solution for Business Studies: CUET Mock Test - 3 - Question 37

Follow -up action is the last step.

Business Studies: CUET Mock Test - 3 - Question 38

“Following a pre-decided plan, when circumstances have changed, it may not turn out to be in the organisations’ interest.” Identify the limitation of planning highlighted above.

Business Studies: CUET Mock Test - 3 - Question 39

“If the end result is clear it becomes easier to work towards the goal.” Identify the step of one of the functions of management highlighted above.

Business Studies: CUET Mock Test - 3 - Question 40

“An innovative course may be adopted by involving more people and sharing their ideas.” Identify the step of planning function of management highlighted above.

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