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
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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
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"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
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Which of the following regional integration is similar to customs union but include the free movement of factors of production as well as trade?
A. Preferential Trade Area
B. Custom Unions
C. Economic Union
D. Common Market
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Which of the following is not the objective of the Competition Act, 2002?
A. Prohibition of restrictive trade practices
B. Prohibition of dominant position
C. Prohibition of anti-competitive agreements
D. Regulation of combinations
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Which of the following in true?
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
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The comparative cost advantage theory was given by
A. David Ricardo
B. Adam Smith
C. Raymond Vernon
D. Michael E. Porter
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From the following, identify the tools of fiscal policy.
1. Public expenditure
2. Open market operations
3. Deficit financing
4. Taxation
5. Reserve requirements
Select the correct answer:
A. 1, 3, 4 and 5
B. 1, 2, 4 and 5
C. Both 2 and 5
D. 1, 3 and 4
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Which among the following is not a correct sequential combination?
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
Select an option to see the answer and solution.
Which of the following is nor an instrument of monetary policy?
A. Deficit Financing
B. Statutory Liquidity Ratio
C. Cash Reserve Ratio
D. Open Market Operations
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The companies globalize their operations through different means
A. Exporting directly
B. Licensing/Franchising
C. Joint ventures
D. All of the above
Select an option to see the answer and solution.
Which of the following is not a forum of Consumer Dispute Redressal System?
A. Local forum
B. District forum
C. State forum (State commission)
D. National commission
Select an option to see the answer and solution.
Which of the following is not the characteristic of capitalism?
A. Individuals and associations behave with economic motive of maximising their profit with least sacrifice or cost
B. The country's major means of production are either owned by the government or their use is controlled by the government
C. Producers, consumers and employees compete among themselves, as the resources and opportunities are limited
D. Price, the invisible hand, plays a predominant role in the flow of the factors of production and consumption
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Which one is not an objective of IMF?
A. To promote international monetary cooperation
B. To ensure balanced international trade
C. To finance productive efforts according to peace-time requirement
D. To ensure exchange rate stability
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The Central Bank can significantly influence the savings, investments and consumer spending in the economy through which of the following policy?
A. Fiscal policy
B. Monetary policy
C. Industrial policy
D. Foreign Exchange policy
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Which of the following statement is not correct relating to consumerism?
A. Consumerism is a manifestation of the failure of the business to guarantee and ensure cosumer legitimate rights
B. The government does not have any role in consumer protection as it is the part of business organisation alone
C. The consumers should accept consumerism as a means of asserting and enjoying their rights
D. Consumerism evolution is not a setback for marketing but rather points to the next stage in the evolution of enlightened marketing
Select an option to see the answer and solution.
Possible impact of WTO on various aspects of the Indian economy.
1. Quantitative restriction will be allowed.
2. Secondhand cars will be imported.
3. There will be dumping of Chinese goods.
4. Increase in population.
5. Child labour exploitation.
6. Unemployment will increase.
Which of the combination is correct?
A. 1, 2 and 3
B. 3, 4 and 5
C. 2, 3 and 6
D. 4, 5 and 6
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Which combination of the following is correct with regard to World Trade Organisation (WTO)?
1. WTO initiates peace process among the member countries to enhance international trade.
2. WTO avoids the task of 'Settlement of Disputes' among the member countries.
3. WTO administers the 'Trade Review Mechanism'.
4. WTO cooperates in an appropriate manner with the IMF and the World Bank.
A. 2, 3 and 4
B. Both 1 and 3
C. Both 3 and 4
D. 1, 2 and 3
Select an option to see the answer and solution.
The method being used for Transferring Complex Technology is known as:
A. Licensing Agreement
B. Transfer of Technology
C. Turnkey Contract
D. None of the above
Select an option to see the answer and solution.
The Competition Act, 2002 seeks to regulate
A. Anti-competitive agreements
B. Mergers and amalgamation
C. Unfair trade practices
D. Both A and B
Select an option to see the answer and solution.