Match the items of List-II with List-I to identify the correct option which are related to legal forces affecting international marketers.
| List-I | List-II |
| a. Tariff | 1. A regulation specifying the proportion of a finished product's components and labour that must be provided by importing country. |
| b. Import Quota | 2. Tax imposed on product entering a country and used to protect domestic producers and/or raise revenue. |
| c. Local- content Law | 3. A requirement that a product contain or exclude certain ingredients or that it be tested and certified as meeting certain restrictive standards. |
| d. Local operating Law | 4. Limiting amount of a particular product that can be brought into a country, to protect domestic industry or broadening access to its markets. |
| e. Standards and Certification | 5. A refusal to buy products from a particular company or country. |
| f. Boycott | 6. A constraint on how, when or where retailing can be conducted. |
A. a-3, b-4, c-2, d-1, e-6, f-5
B. a-6, b-2, c-1, d-4, e-3, f-5
C. a-2, b-4, c-1, d-6, e-3, f-5
D. a-4, b-6, c-1, d-2, e-3, f-5
Answer: Option C
Which of the legislation do not from part of the legal environment of business in India?
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
Consider the following statements. Which of these statements is/are true?
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
"Repo Rate" refers to the rate at which
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

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