Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Business Environment > Significance > Flashcards

Significance Flashcards

1
Q

significance

A

first mover advantage, early warning signal, customer focus, strategy formulation, image building, directing growth

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Features of capitalism

A

private property, large scale production, profit institution, competition, price mechanism, wage institution, market economy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

merits

A

high level of production, products of high quality at low costs, growth and prosperity, max welfar, opt utilisation of resources, flexible system

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

demerits

A

leads to monopoly, inequality, depression and unemployment, inefficient production, class conflict,

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

features of socialism

A

social ownership, social welfare, central planning, equality of income and opportunity, classless society

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

merits

A

greater economic efficiency, greater welfare due to less inequality, absence of monopoly

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

demerits

A

fixed occupation, bureaucratic, misallocation of resources

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

features of communism

A

highest class, communist party, rigid rules and regulation, no freedom of speech, government control prices for labour, government ownership

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

merits

A

people are equal every citizen can keep a job internally stable economics system no competition efficient distribution of resources

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

demerits

A

government rule no freedom of speech customer needs are not taken into consideration no balance between demand and supply

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

mixed economy feature

A

coexistents of public and private sectors individual freedom economic welfare economic planning price mechanism government intervention

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

merits

A

economic development optimum utilisation of resources balance between private and public sectors economic planning

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

demerits

A

non corporation between the two sectors in efficient public sector in efficient planning and the angels freedom

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

objectives of industrial policy

A

to correct imbalances to regulate flow of resource to ensure maximum utilisation of resources to monitor private industry to ensure equal wealth distribution to control foreign capital

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

importance

A

establishes coordination direct National resources helps in industrial development proper control promotes export

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

measures adopted in connection with liberalisation strategy

A

freedom of production extending investment limit of small industries exemption of industries from licensing expansion of industries

17
Q

positive implications

A

growth of agriculture liberalisation and employment liberalisation and mergers liberalisation and economic growth improvement in healthcare

18
Q

demerits

A

reduce profits exploitation of worker reduces economic freedom effect on capital

19
Q

modes of privatisation

A

strategic sale sale to foreigners initial public offering equal access voucher program franchising leasing liquidation

20
Q

positive

A

accelerates competitive sectors upliftment of under performing psus improves financial health better customer service

21
Q

negative

A

high level of secrecy ignore social objectives loses the mission High employee turnover support to unfair practices rise in inflation

22
Q

drivers of globalisation

A

increase and expansion of technology increased global competition expanded cross National corporation growing consumer pressures

23
Q

industrial policy 1948

A

economic prosperity, attitudes towards foreign capital, exclusive monopoly

24
Q

industrial policy 1956

A

accelerating the rate of growth of economy, preventing creation of monopolies developing a large and growing private sector expanding the village and small scale industries increasing the opportunities of employment

25
Q

industrial policy 1973

A

interaction between agriculture and industrial sector
work under the leadership of the government cooperative ventures were promoted in agriculture state was responsible for potential industrial growth each foreign investment plan had a clear reference to technical competence

26
Q

industrial policy 1977

A

development of small scale sector large business houses large scale industries public sector

27
Q

industrial policy 1980

A

protection of consumer against poor quality and high prices strengthening the agriculture foundation utilisation of resources promotion of import substitutions and export industries

28
Q

new industrial policy

A

abolition of industrial licensing, diminishing role of public sector, growth
of new economic companies new breed of entrepreneurs greater competitive strength healthy competition

29
Q

trends in world trade

A

forced dynamism
cooperation among countries
liberalisation of cross border countries
transfer of technology
growth in emerging markets

30
Q

recent trends in foreign trade

A

growth in trade
demand of electric vehicle
technology transfer
less restriction in cross border movement

31
Q

current trends in Indian economy

A

migration
shift from agriculture sector to service sector
export orientation
5 year plans
job market
digital economy

32
Q

role of govt in development of business

A

production of defence goods
building strategic industries
building infrastructure
creating external economies
curb monopolies
market intervention
generation of new resources

33
Q

principles of wto

A

free trade,
trade without discrimination
fair competition
economic development
predictibility

34
Q

positive implications of wto

A

security and predictibility
boosts export
promotes competition
dispute settlement

35
Q

negative implications

A

no export push
tramples human and labour rights
price rise
danger to service sector

36
Q

government control over business

A

economic planning
industrial policy
industrial licensing
labour laws
regulation of foreign trade

37
Q

role of govt in business

A

to pass and execute laws
maintenance of law and order
providing money and credit
building infrastructure providing information
protection

38
Q

role of govt in regulation of business

A

regulations related to foreign currency
industrial regulations
regulations related to business enterprises
related to taxation
related to business and trade practices

39
Q

monetory policy objectives

A

to support economic growth
to maintain price stability
to reduce inequality
to achieve full employment
to maintain exchange rate stability

Business Environment (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions