Business Environment And International Business - Practice Test

[#421] Which of the following statements are true in context of Consumer Protection Act, 2019

(A) The Act proposes the establishment of the Central Consumer Protection Authority (CCPA) to promote, protect and enforce the rights of consumers

(B) The Act seeks to be more holistic with stricter rules, including jail term for unfair trade practices like adulteration and misleading ads by firms. The Act is determined to initiate class action, including enforcing recall, refund and return of products

(C) The consumers can now file complaints at any district or state Consumer Commission closest to them instead of travelling to the location where the service were sold

(D) All of the above

Correct Answer

(D) All of the above

[#422] Match the following. List-I List-II a. Foreign trade 1. It is in undertaking by its issue that the bills of exchange drawn by the foreign dealer on the importer will be honoured on presentation upon a specified amount b. Bill of lading 2. It is a document of title to the goods c. Quotation 3. Trade between two or more nations d. Letter of credit 4. It is reply by the seller to the prospective buyer

(A) a-4, b-1, c-2, d-3

(B) a-3, b-2, c-4, d-1

(C) a-2, b-3, c-4, d-1

(D) a-4, b-3, c-2, d-1

Correct Answer

(B) a-3, b-2, c-4, d-1

[#423] The main objective of the WTO is:

(A) to raise living standards in developing countries

(B) to minimise barriers to international trade

(C) to harmonize tariffs

(D) to eliminate customs unions

Correct Answer

(B) to minimise barriers to international trade

[#424] India suffered from deficit balance both in trade balance and net invisibles, hence, took up a number of steps to manage this problem. Which one is not appropriate for this?

(A) Export control

(B) Current Account Convertibility

(C) Liberalized Export Policy

(D) Unified Exchange Rate

Correct Answer

(A) Export control

[#425] The current account is made up of visibles and . . . . . . . .

(A) invisible

(B) constraint

(C) expert

(D) None of these

Correct Answer

(A) invisible

Business Environment And International Business - Study Mode

[#421] Which of the following statements are true in context of Consumer Protection Act, 2019

Correct Answer

Correct Answer

[#423] The main objective of the WTO is:

Correct Answer

[#424] India suffered from deficit balance both in trade balance and net invisibles, hence, took up a number of steps to manage this problem. Which one is not appropriate for this?

Correct Answer

[#425] The current account is made up of visibles and . . . . . . . .

Correct Answer