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Target Exam

CUET

Subject

Business Studies

Chapter

Business Environment

Question:

Match the following lists.

Column -I Column- II
A) Suppliers and creditors I) Opportunities
B) Social and political environment II) Specific forces
C) Gaining the profits for being a pioneer III) General forces
D) Positive external trends IV) First mover advantage

 Choose the correct answer from the options given below.

Options:

A-IV, B-III, C-II, D-I

A-II, B-III, C-IV, D-I

A-I, B-II, C-III, D-IV

A-III, B-II, C-I, D-IV

Correct Answer:

A-II, B-III, C-IV, D-I

Explanation:

The correct answer is option 2- A-II, B-III, C-IV, D-I.

Column -I Column- II
A) Suppliers and creditors II) Specific forces
B) Social and political environment III) General forces
C) Gaining the profits for being a pioneer IV) First mover advantage
D) Positive external trends I) Opportunities


* Suppliers and creditors- Specific forces such as investors, customers, competitors, suppliers, etc.

* Social and political environment- General forces such as economic, social, political, legal, natural and technological conditions influence all business enterprises.

* Gaining the profits for being a pioneer-  first-mover advantage can be simply defined as a firm's ability to be better off than its competitors as a result of being first to market in a new product category.

* Positive external trends- Opportunities in the business environment are those factors that provide possibilities for a business to expand so as to make more sales and profits. Constraints are those factors that limit the ability to grow, and reduce sales and profit potential.

 

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