MBA 1st Year Economic Political Legal Business Environment Very Short Question Answer Sample Paper:- In this Post you will find MBA 1 year related to important questions related to the answer such as the Economic Political Legal Business Answer and many other important questions. Very Short Questions are answer in English Section A
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Section A
VERY SHORT ANSWER QUESTIONS
Q.1. What are the three organs comprising political institutions?
Ans. The three organs comprising political institutions are – the executive and the judiciary. The legislature occupies the most important place as it formulace and expresses the will of the state.it is a significant organ of any form of government although the emergence of the welfare state has minimised the importance of legislature to a large extent.
Q.2. What is the role of government in business?
Ans. Government in India has an all pervasive and predominantly restrictive intuen various aspects of business, e.g, industrial licensing that decides location, capacity and process, Import licensing for machinery and material, size and price of capital issue, etc.
Q.3. What do you mean by economic environment of a business?
Ans. Economic.conditions, economic policies and the economic system are the important external factors that constitute the economic environment of a business. Economic environment consists macro level factors related to means of production and distribution of wealth in a country or region. These factors have a significant impact on the demand and supply of a business of an organisation.
Q.4. Growth of private sector is helpful in the development of public sector. Give two genuine reasons.
Ans. The two reasons are:
1. Making public sector units more competitive.
2. Enabling the profit earning public sector units to modernise and diversify the business.
Q.5. What do you mean by the term ‘Public enterprises’?
Ans. All such enterprises which are owned, managed and controlled by the state or local government are termed as ‘Public enterprises.
MBA 1st Year Economic Political Legal Business Environment Very Short Question Answer
Q.6. Give the reason which leads to the problem of control and public accountability in the public enterprise.
Ans. The reason behind the problem is undue influence of political leaders, several committees and commissions appointed for different issues, etc.
Q.7. What are the core sectors of economy where public enterprise plays a major role?
Ans. Public enterprise plays an important role in the development of core sectors of economy such as coal, power, iron, steel, etc. About 55% of total investment of public enterprises is invested in these industries.
Q.8. Mention some disadvantages of mixed ownership cooperation.
Ans. The disadvantages of mixed ownership cooperation are:
1. Conflicts are bound to arise as public and private interests are opposed to each other.
2. Profit motive creates conflicts over basic policies.
Q.9. What are the various forms of public enterprises?
Ans. Public enterprises are said to be having the various forms as given below:
1. Departmental organisation.
2. Public corporation
3. Government company.
4. Mixed ownership corporation.
5. Holding company.
Q.10. Write down the four importances of public enterprises in India.
Ans. The four importances of public enterprises in India are:
1. Better allocation of resources,
2. Social justice,
3. Economic stability,
4. Generation of surplus.