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Business Environment and International Business MCQ Questions and Solutions with Explanations | Commerce

Business Environment and International Business MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Business Environment and International Business MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-6 section-7

Each section contains 100 MCQs on Business Environment and International Business .
51
The tariff which maximizes a country's economic welfare is called
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Answer & Solution
Answer: Option A
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52
The important responsibilities of a business to the customers are
(i) To ensure family welfare of the customers.
(ii) To understand customer needs and to take the necessary measures to satisfy these needs.
(iii) To ensure health condition of the customers.
(iv) To ensure that the product supplied has no adverse effect on the customer.
(v) To provide an opportunity for being heard and to redress genuine grievances.
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Answer & Solution
Answer: Option C
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53
Which of the following is the updated version of NAFTA that was signed in 1994?
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Answer & Solution
Answer: Option B
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54
Which of the following is not the salient feature of the industrial policy developments since 1991?
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Answer & Solution
Answer: Option D
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55
Match the following.
List-I (Organisations of World Bank) List-II (Features)
a. Board of Governors 1. Responsible for the conduct of the day to day business of the bank
b. Board of Executive Directors 2. It meets annually to cheak out the general policy of the bank
c. Advisory Council 3. It meet regularly once a month to carry on the routine working of the bank
d. President and other members of staff 4. It is appointed by the Board of Directors
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Answer & Solution
Answer: Option B
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56
Theories of international trade can be broadly grouped into
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Answer & Solution
Answer: Option C
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57
The following table shows cost per unit of production of two goods, wheat and cloth in 2 countries X and Y with no transportation cost and free trade
X (Rs.) Y (Rs.)
Wheat 50 350
Cloth 100 500
Which one of the following will take place?
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Answer & Solution
Answer: Option D
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58
Which of the following statements is/are true in context of dumping?
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Answer & Solution
Answer: Option D
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59
In circular flow of economy, consider the following statements.
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Answer & Solution
Answer: Option D
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60
Business environment is more descriptive and . . . . . . . .
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Answer & Solution
Answer: Option C
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