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NCERT solutions for Class 12 Business Studies Part 1 - Principles and Functions of Management chapter 3 - Business Environment [Latest edition]

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Class 12 Business Studies Part 1 - Principles and Functions of Management - Shaalaa.com

Chapter 3: Business Environment

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Very Short Answer [Pages 90 - 91]

NCERT solutions for Class 12 Business Studies Part 1 - Principles and Functions of Management Chapter 3 Business Environment Very Short Answer [Pages 90 - 91]

Very Short Answer | Q 1 | Page 90

What is meant by business environment?

Very Short Answer | Q 2 | Page 90

How does understanding of business environment help in  improving performance of a business?

Very Short Answer | Q 3 | Page 90

Give an example to show that a business firm operates within numerous inter related factors constituting the business environment.(Hint: example highlighting the inter  relatedness of dimensions of business environment).

Very Short Answer | Q 4 | Page 90

Krishna Furnishers Mart started its operations in the year 1954 and emerged as the market leader in the industry because of their original designs and efficiency in operations. They had a steady demand for their products but over the years, they found their market share declining because of new entrants in the field. The firm decided to review their operations and decided that in order to meet the competition, they need to study and analyze the market trends and then design and develop their products accordingly. List any two impacts of changes in business environment on Krishna Furnishers Mart’s operations. (Hint: increase in competition and Market orientation).

Very Short Answer | Q 5 | Page 91

Name any two Specific forces of business environment affecting business.

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Short Answer [Page 91]

NCERT solutions for Class 12 Business Studies Part 1 - Principles and Functions of Management Chapter 3 Business Environment Short Answer [Page 91]

Short Answer | Q 1 | Page 91

Why it is important for business enterprises to understand  their environment? Explain.

Short Answer | Q 2 | Page 91

Explain the following terms:
a. Liberalisation
b. Privatization
c. Globalisation

Short Answer | Q 3 | Page 91

Briefly discuss the impact of Government policy changes on business and industry.

Short Answer | Q 4 | Page 91

National Digital Library of India (NDL India) is a pilot project initiated by the HRD ministry. It works towards developing  a framework of virtual repository of learning resources with  a single-window search facility. It provides support to all  academic levels including researchers, life-long learners and differently-abled learners free of cost. State the dimensions  of business environment highlighted above.

Short Answer | Q 5 | Page 91

State the impact of demonetization on interest rates, private wealth and real estate.

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Long Answer [Pages 91 - 92]

NCERT solutions for Class 12 Business Studies Part 1 - Principles and Functions of Management Chapter 3 Business Environment Long Answer [Pages 91 - 92]

Long Answer | Q 1 | Page 91

How would you characterize business environment? Explain  with examples, the difference between general and specific environment.

Long Answer | Q 2 | Page 91

How would you argue that the success of a business enterprise is significantly influenced by its environment?

Long Answer | Q 3 | Page 91

Explain, with examples, the various dimensions of business environment.

Long Answer | Q 4 | Page 91

The government of India announced Demonetization of  500 and 1,000 currency notes with effect from the midnight  of November 8, 2016. As a result, the existing  500 and 1,000 currency notes ceased to be legal tender from that  date. New currency notes of the denomination of  500 and  2,000 were issued by Reserve Bank of India after the announcement.
This step resulted in a substantial increase in the awareness about and use of Point of Sale achines, e-wallets, digital cash and other modes of cashless transactions. Also,  increased transparency in monetary transactions and  disclosure led to a rise in government revenue in the form of tax collection.
a. Enumerate the dimensions of business environment highlighted above.
b. State the features of Demonetization.

Long Answer | Q 5 | Page 92

What economic changes were initiated by the Government  under the Industrial Policy, 1991? What impact have these changes made on business and industry?

Long Answer | Q 6 | Page 92

What are the essential features of:
a. Liberalisation,
b. Privatization and
c. Globalisation? 

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Chapter 3: Business Environment

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Class 12 Business Studies Part 1 - Principles and Functions of Management - Shaalaa.com

NCERT solutions for Class 12 Business Studies Part 1 - Principles and Functions of Management chapter 3 - Business Environment

NCERT solutions for Class 12 Business Studies Part 1 - Principles and Functions of Management chapter 3 (Business Environment) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the CBSE Class 12 Business Studies Part 1 - Principles and Functions of Management solutions in a manner that help students grasp basic concepts better and faster.

Further, we at Shaalaa.com provide such solutions so that students can prepare for written exams. NCERT textbook solutions can be a core help for self-study and acts as a perfect self-help guidance for students.

Concepts covered in Class 12 Business Studies Part 1 - Principles and Functions of Management chapter 3 Business Environment are Concept of Business Environment, Importance of Business Environment, Dimensions of Business Environment - Macro, Impact of Government Policy Changes on Business with Special Reference to Liberalization, Privatization and Globalization in India, Economic Environment in India.

Using NCERT Class 12 solutions Business Environment exercise by students are an easy way to prepare for the exams, as they involve solutions arranged chapter-wise also page wise. The questions involved in NCERT Solutions are important questions that can be asked in the final exam. Maximum students of CBSE Class 12 prefer NCERT Textbook Solutions to score more in exam.

Get the free view of chapter 3 Business Environment Class 12 extra questions for Class 12 Business Studies Part 1 - Principles and Functions of Management and can use Shaalaa.com to keep it handy for your exam preparation

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