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Home Questions EEBKMPSTRE
Target Exam

CUET

Subject

Business Studies

Chapter

Business Environment

Question:

From the set of statements given in Column I and Column II, choose the correct pair of arrangements:

Column- I Column- II
A)Liberalization 1)Greater role to the private sector in the nation building process.
B)Legal Environment 2)Decisions rendered by the various commissions.
C)Privatization 3)Removal of unnecessary controls and restrictions on business.
D)Social environment 4)Represent customs and traditions, values, social trends etc.

 

Options:

A-4, B-3, C-1, D-2

A-3, B-2, C-1, D-4

A-3, B-2, C-4, D-1

A-2, B-3, C-4, D-1

Correct Answer:

A-3, B-2, C-1, D-4

Explanation:

* Liberalization- Liberalisation is the process or means of the elimination of control of the state over economic activities.

* Legal Environment- The legal environment includes the laws passed by the government as well as the decisions rendered by the various commissions and agencies at every level of the government. 

* Privatization- Privatization describes the process by which a piece of property or business goes from being owned by the government to being privately owned.

* Social environment- Social environment is their society and all surroundings influenced in some way by humans. It includes all relationships, institutions, culture, and physical structures.

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