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BBA Business Environment June 2012 Solved Question Paper With Answers

BBA Business Environment June 2012 Solved Question Paper With Answers : BBA Business Environment (Book Code 205) Important Previous Year June 2012 Mock Test Model Sample Papers in English Language.

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BBA Business Environment June 2012 Solved Question Paper With Answers


B.B.A. Examination, June 2012

Business Environment


Time : Three Hours] [Maximum Marks: 75

Note: Attempt all the sections as per instructions.


(Very Short Answer Questions)

Note: Attempt all the five questions. Each question carries 3 marks. Very short answer is
required not exceeding 75 words. (3 x5 = 15)

1. Explain the cultural environment.

Ans. Refer The people of different cultures might use the same product but the mode of the consumption, conditions of use, or the purpose of use etc. might differ among them prompting the company to change the product attributes, presentation methods, promotion methods, which may be more suitable to changing character of market

2. Define socialism.

Ans. Ans. Meaning and Definition of Socialism: Socialism is an economic system where the means of production are either owned or controlled by the state and the resource allocation, investment pattern, consumption, income distribution, etc., are directed and regulated by the state.

Socialism is quite distinct from capitalism, which is based on the institutions of private property and private enterprise. In a socialist state there is no place for private property and private enterprise. In the socialist state, production is controlled by the state itself, which decides what to produce, how to produce and how to distribute the total product among the population. Since there is no private capital, land or enterprise, there is no necessity to pay interest, rent or profit. The entire national income is distributed as wages among the workers.

Historically, socialist or command economies were found in communist countries where collective goals were given priority over individual goals. Since the demise of communism in the late 1980s, the number of command economies has fallen dramatically. Some elements of a command economy were also evident in a number of democratic nations led by socialist-inclined governments. France and India both experimented with extensive government planning and state ownership, although government planning has fallen into disfavor in both countries.

While the objective of a command economy is to mobilize economic resources for the public good the opposite seems to have occurred. In a socialist economy, state owned enterprises have little incentives to control costs and be efficient, because they cannot go out of business. Also the abolition of private ownership means there is no incentive for individuals to look for better ways to serve consumer needs; hence dynamism and innovation are absent from command economies. Instead of growing and becoming more prosperous, such economies tend to be characterized by stagnation.

According to H. D. Dickinson, “Socialism is an economic organization of society in which the material means of production are owned by the whole community and operated by organs representative of and responsible to the community according to a general economic plan, all members of community being entitled to benefit from the results of such socialized production on the basis of equal right.

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