Business Environment MCQs | Business Environment Multiple Choice Questions with Answers

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Questions
1 By which act government checks restrictive trade?
A Industrial Policy Act 1991
B MRTP Act
C FEMA act
D None of these

Answer: MRTP Act
2 In which year WTO was formulated ?
A 1995
B 1948
C 1991
D 1988

Answer: 1995
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3 What was the predecessor of WTO?
A GAAT
B IMF
C ADB
D None of the above

Answer: GAAT
4 GAAT was born in the year--------------
A 1948
B 1945
C 1947
D 1950

Answer: 1948
5 Which sector got priority in the 1st five year plan?
A Agriculture
B Industrial
C Infrastructure
D Communication

Answer: Agriculture
6 From which five year plan ‘growth with social justice’ has received added emphasis?
A 5th
B 4th
C 3rd
D 6th

Answer: 5th
7 Who is the President of National Development Council ?
A Finance Minister
B Prime Minister
C Monteng sing Aluvalia
D None

Answer: Prime Minister
8 The intervening period between third and forth Five year plans is regarded as ---
A Plan period
B Plan holidays
C Plan days
D None of these

Answer: Plan holidays
9 Which Govt. introduced the concept of ‘ Rolling Plan’
A Manmohan govt.
B Vajpayee
C Janatha Govt.
D Rao Govt.

Answer: Janatha Govt.
10 Which policy is concerned with raising revenue through taxation and deciding on the level and Pattern of expenditure?
A Monetary policy
B Fiscal Policy
C Cash policy
D None of these

Answer: Fiscal Policy
11 Who is responsible for presenting the Union Budget before the Parliament?
A Prime Minister
B Finance Minister
C RBI Governor
D None of these

Answer: Finance Minister
12 The Planning commission was set up in India in --------
A 1950
B 1951
C 1947
D 1952

Answer: 1951
13 ---------is concerned with all current expenditure of the Govt. on administration
A Revenue expenditure
B Capital expenditure
C Total Expenditure
D None

Answer: Revenue expenditure
14 Privatization of ownership through sale of equity share is called
A Denationalization
B Disinvestment
C Contracting
D None of these

Answer: Disinvestment
15 Which among these is monopolistic trade practice?
A Unreasonably limiting competition
B Manufacturing only one product
C Limiting technical Development
D Selling only one product

Answer: Manufacturing only one product
16 Which committee recommended the enactment of Competition Act
A High level Committee on competition policy and Law
B A Committee on Law and Order
C A Central Committee for Research and Policy
D None of these.

Answer: High level Committee on competition policy and Law
17 Who is concerned with the auditing of the receipts and expenditure of the State and Central Govt.
A Accountant General
B Comptroller and Auditor General
C Reserve Bank of India
D None of the above

Answer: Comptroller and Auditor General
18 ----------is the rate at which the central bank discounts or rediscounts the eligible bills.
A Credit rate
B Bank rate
C Bill rate
D Deposit rate

Answer: Bank rate
19 Which among these can be condition for the success of privatization?
A Alternative institutional arrangements
B Barriers to enter the market
C Measurability of performance
D All of the above

Answer: Barriers to enter the market
20 The pre-liberalization era of Indian Economy was under the grip of
A Unemployment
B Under-employment
C Fiscal Deficit
D Unfavorable and alarming balance of payment

Answer: Unfavorable and alarming balance of payment

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