Business Studies

Business Environment

Easy

Which of the following is not a component of economic environment?

Existing structure of the economy in terms of relative role of private and public sectors.

Agricultural and industrial production trends

Attitudes towards product innovations, lifestyles, occupational distribution and consumer preferences

Expansion of transportation and communication facilities

✅ Correct Option: 3

The economic environment covers the structure of the economy, roles of private and public sectors, production trends, and infrastructure like transport and communication. Attitudes towards product innovations, lifestyles, occupational distribution and consumer preferences are elements of the social environment. Hence option 3 is not a component of the economic environment.

2025: 15 May Shift 1

Dynamic Horizon faced instability and an unfavorable attitude from the government. Which dimension of the business environment is reflected in this statement?

2026: 21 May Shift 1

"A change in food habits i.e. shift towards packaged food, due to the ongoing trend" is related to which dimension of the business environment.

2026: 29 May Shift 2

Match the LIST-I with LIST-II

LIST-I (Features of Business Environment)	LIST-II (Description)
A. Totality of external forces	I. Shifts in consumer preferences or entry of new competition in the market
B. Complexity	II. It consists of numerous interrelated and dynamic conditions or forces which arise from different sources.
C. Uncertainty	III. It is the sum total of all things external to business firms and, as such, is aggregative in nature.
D. Dynamic nature	IV. Difficult to predict when environmental changes are taking place too frequently

Choose the correct answer from the options given below:

2025: 14 May Shift 1

Entrepreneurship is dependent upon several economic, social, political, legal and other environmental factors. Careful monitoring of the environment for detecting early signs of opportunities and threats may influence current and future plans. This process is known as:

2026: 23 May Shift 1

Issues such as nutrition of children and disaster relief fall under the first category because they:

2025: 3 June Shift 1

Which of the following factors constitutes the specific environment of business?

(A) Economic Environment

(B) Suppliers

(D) Competitors

Choose the correct answer from the options given below:

Which of the following is not a component of economic environment?

Solution

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