Business Environment — Flashcards
NIOS · Class 12 · Business Studies
30 flashcards for Business Environment (NIOS Class 12 Business Studies) to test yourself on key terms and facts.
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What is Business Environment and why is it important for businesses?
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Business Environment refers to the total surroundings and external factors that have a direct or indirect bearing on the functioning of a business enterprise. It is important because: 1. It helps ide…
List and explain the key features of Business Environment.
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The six key features of Business Environment are: 1. **Sum Total of All Factors**: Includes all external factors affecting business, both micro (investors, competitors, customers) and macro (social, …
Define Business Environment and identify what factors it includes.
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**Definition**: Business Environment is the set of external forces, factors, and institutions that are beyond the control of the business and affect its functioning and decision-making. **Factors Inc…
How can understanding the business environment help in 'Determining Opportunities and Threats'?
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Understanding Business Environment helps identify Opportunities and Threats through: **Opportunities**: - New market segments opening up - Technological innovations enabling new products - Changes in…
Differentiate between Economic and Non-Economic Business Environment with examples.
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**ECONOMIC ENVIRONMENT**: Includes economic conditions, policies, and systems that directly impact business operations. Components: 1. Economic Conditions: GDP, per capita income, capital availability…
What is Economic Condition and how does it affect business?
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**Economic Condition** refers to the set of economic factors that influence business organizations and their operations. **Key Economic Indicators**: 1. Gross Domestic Product (GDP) - Total economic …
Explain the five most important Economic Policies that affect business in India.
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**1. Industrial Policy** - Covers principles, policies, rules affecting industrial enterprises - Determines which industries are reserved for public sector - Example: 1991 Industrial Policy liberalize…
What is a Mixed Economy and why did India choose this system?
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**Mixed Economy Definition**: An economic system where both public sector (government-owned) and private sector (privately-owned) enterprises coexist and operate together. **India's Mixed Economy Mod…
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