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

A. The Drugs and Cosmetics Act, 1940

B. The prevention of Food Adulteration Act, 1954

C. The Monopolies and Restrictive Trade Practices Act, 1969

D. Both B and C

A. Socialism is compatible with democracy and liberty, whereas Communism involves creating an 'equal society' through an authoritarian state

B. Totalitarianism is a form of government which involves complete submission of people to the government. The State recognizes no limits to its authority and strives to control every aspect of public and private life wherever feasible

C. India differed from core socialism as it went for a mixed economy rather than complete government control

D. All of the above statements are true

A. RBI borrows short-term money from the market

B. Banks keeps the money with RBI

C. Banks take money from RBI after offering some securities

D. Forex is purchased by RBI

A. Preferential Trade Area

B. Custom Unions

C. Economic Union

D. Common Market

A. Prohibition of restrictive trade practices

B. Prohibition of dominant position

C. Prohibition of anti-competitive agreements

D. Regulation of combinations

A. A consumer court set-up under the consumer protection act, does not have the power to punish for its contempt

B. Professional services are outside the purview of the CPA

C. A consumer court can not force a person indulging in misleading advertising to confess his quit

D. None of the above

A. David Ricardo

B. Adam Smith

C. Raymond Vernon

D. Michael E. Porter

A. 1, 3, 4 and 5

B. 1, 2, 4 and 5

C. Both 2 and 5

D. 1, 3 and 4

A. Macro Environment → Economic Environment → National Income → Pattern of Income Distribution

B. Business Environment → Internal Environment → Business Ethics → Payment of Fair Wages

C. Business Environment → External Environment → Micro Environment → Suppliers

D. Macro Environment → External Environment → Customers → Prospects of Business Development

A. Deficit Financing

B. Statutory Liquidity Ratio

C. Cash Reserve Ratio

D. Open Market Operations