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Question 11 Mark
Explain any five negative impacts of liberalisation and globalisation on business and industry in India.
Answer
The negative impacts of globalisation and liberalisation are:(i) Destabilisation of protected environment.(ii) Threat from MNCs.(iii) Corporate vulnerability.(iv) Past failures fail to guide.(v) Acquisitions and mergers. [Explain these points]
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Question 21 Mark
Explain any five positive effects of liberalisation and globalisation on business and industry in India.
Answer
The positive effects of liberalisation and globalisation on Indian business and industry are:(i) All round competition.(ii) Export became matter of survival.(iii) World class technology.(iv) Buyer's market.(v) Increase in production capacity.[Explain these points]
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Question 31 Mark
Define political environment.
Answer
Political environment comprises those elements that are related to government affairs in the type of government in power.
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Question 41 Mark
Define business environment.
Answer
Business environment refers to all the forces, factors, institutions and conditions external to a business unit under which it operates.
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Question 51 Mark
Give one example of opportunity and one example of threat offered in Indian economic environment.
Answer
Opportunity-liberalisation in external trade.Threat-MRTP Act.
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Question 61 Mark
List the major impacts of new industrial policy.
Answer
(i) Liberalisation (ii) Globalisation (iii) Privatisation.
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Question 81 Mark
Which component of business environment requires that in every packet of cigarette there must be a horrified picture and a statutory warning.
Answer
Legal Environment.
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Question 91 Mark
Just after the declaration of Lok Sabha Elections in 2014, the Bombay Stock Exchange Index rose by 1000 points.Identify the dimension of business environment.
Answer
Political Environment.
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Question 101 Mark
Even after opening up of Indian Economy, foreign companies found it extremely difficult to cut through the bureaucratic and red tapism in government offices. This discourages them from investing in IndiaIdentify the dimension of environment mention in above para.
Answer
Political Environment.
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Question 111 Mark
After winning the election, Prime minister Mr. Narender Modi launched a Campaign of 'Swachh Bharat' and invited various celebrities to be a part of this Abhiyaan. This spread awareness among the people in society and in general, people started becoming more careful and aware about the cleanliness around their area. To continue its impact, a new service tax for Swachh Bharat was also started. The government is planning to import new and better technology to adopt new methods of treating the garbage and waste.State the various dimensions of business environment mentioned in the above para quoting
Answer
(i) Political Environment "After winning election__________ campaign of Swachh Bharat."(ii) Social Environment "People in society__________ around their area."(iii) Economic Environment "A new service tax__________ started."(iv) Technological Environment "Import new technology___________ garbage."
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Question 121 Mark
Recently many companies have planned for significant investment in organised retailing in India. Various factors which have encouraged companies to take these decisions are customer income is increasing, rise in standard of living of people. People are ready to pay high price for quality goods, government policy of liberalisation regarding MNC entry and FDI, etc.(a) Explain briefly changes in business environment under different heads that have facilitated the companies' decision to plan significant investment in retailing.(b) What has been the impact of these changes with regards to globalisation and privatisation?
Answer
(a) Explain recent changes in various environment heads, i.e., economic, social, political, legal and technological.(b) Explain the topic, impact of change in government policy/economic policy.
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Question 131 Mark
Government of India is seriously thinking to allow oil marketing public sector, undertaking to fix their own price for petrol and diesel(i) Name the economic reform related to this decision of government.(ii) Name other two reforms recommended in new economic policy.
Answer
(i) Liberalisation(ii) Other two reforms: Privatisation and Globalisation.
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Question 141 Mark
'Understanding of environment by business managers enables them no only to identify and evaluate, but also to react to the forces external by their firms.' In the light of this statement, 'explain by giving any five point why in the present day competitive market; it is essential for a business enterprise to remain alert and aware of its environment.
Answer
self
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Question 151 Mark
The sale of greeting cards, sweets, chocolate, etc. increases in India during Diwali, Id, Guruparv and Christmas. Name the dimension of environment related to this.
Answer
Social environment.
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Question 161 Mark
ABC Ltd., a book publishing house published books on various subjects based on CCE pattern before any other publishing house could print it. What advantages will this publishing house get?
Answer
ABC Ltd. will get the benefits of "First mover advantage."
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Question 171 Mark
The Finance Minister reduced the repo rate to overcome recession. This is related to which dimension of business environment?
Answer
Economic environment.
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Question 181 Mark
The project of Nano car reestablished in Gujarat is indicated by which factor of environment?
Answer
Political factor.
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Question 191 Mark
If new products are introduced in market by new technique, which type of environment is indicated by it?
Answer
Technological environment.
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Question 201 Mark
Name the term/process under which reduction in tax rates and lifting of unnecessary control over the economy was undertaken.
Answer
Liberalisation.
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Question 211 Mark
Name the term/process which means integrating the economy with the rest of the world. Globalisation.
Answer
Globalisation.
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Question 221 Mark
List any two impacts of Government policy changes on business and industry.
Answer
(i) Increased competition,(ii) World class technology.
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Question 231 Mark
What is L.P.G. in context of business environment?
Answer
In business environment L.P.G. stands for:(i) L: Liberalisation,(ii) P: Privatisation,(iii) G: Globalisation.
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Question 241 Mark
List two examples of change in social environment which affect business organisation.
Answer
(i) Belief and customs of people,(ii) Education system.
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1 Marks Question - Business Studies STD 12 Commerce Questions - Vidyadip