Economic Environment Questions with Answers (Board Questions)
Group A: Very Short Answer Questions
1. (2023 Fall Q. No. 2) List any five economic dimensions of an economy.
Answer: The five economic dimensions of an economy are:
i. Gross national income
ii. Per capita income
iii. Income distribution
iv. Inflation rate
v. Level of employment
2. (2023 Spring Q. No. 2) List the components of task environment.
Answer: The components of task environment are:
i. Customers
ii. Suppliers
iii. Creditors
iv. Competitors
v. Distributors
vi. Pressure Groups
3. (2022 Fall Q. No. 1, 2018 Fall Q. No. 1) How income distribution affects the business?
Answer: Income distribution affects a business by influencing how much money people have to spend; if many people earn low incomes, companies may sell less. This can make it harder for small businesses to grow, while larger companies might benefit from wealthier customers.
4. (2021 Spring Q. No. 10) What are the socio-economic performance indicators that can be used for environmental analysis?
Answer: Some of the key indicators that can be used for environmental analysis are:
i. Income level
ii. Employment rate
iii. Poverty rate
iv. Education level
v. Social and cultural factors
5. (2019 Fall Q. No. 1) What do you mean by Protectionism?
Answer: Protectionism is a government policy that aims to protect domestic industries from foreign competition. It involves using various methods to restrict the import of goods and services from other countries. Some common protectionist measures include tariffs (taxes on imports), import quotas (limits on the number of imports), and subsidies to domestic producers.
6. (2019 Fall Q. No. 6, 2017 Fall Q. No. 9) Define the meaning of development plan.
Answer: A development plan is a roadmap or blueprint for achieving specific goals and objectives. It outlines the strategies, actions, and resources needed to bring about positive change or improvement in a particular area.
7. (2018 Fall Q. No. 9) State the economic dimensions of the business environment.
Answer: The economic dimension indicates the purchasing power and consumption patterns of the people. There are several indicators to measure the economic performance of a country. They are:
i. Gross Domestic Product
ii. Income distribution
iii. Poverty level
iv. Balance of payment
v. Exchange rates
Group B: Descriptive Answer Questions
8. (2023 Spring Q. No. 12) Taking reference to manufacturing business in your native town, explain the socio-economic dimensions and its effect on the business environment. – Answer (Click Here)
9. (2022 Fall Q. No. 12) Discuss the different dimensions of economy and also explain why is it important for business. – Answer (Click Here)
10. (2020 Fall Q. No. 12) The government of Nepal announced the nationwide lockdown on 24th March 2020, due to the COVID-19 pandemic. Most of the business sectors are affected from such pandemic environment. How do you assess the situation? What should the government do in order to regain the momentum of the business? Explain with considering the current business situation in Nepal. – Answer (Click Here)
11. Discuss the major economic indicators affecting the growth and operations of business sector in Nepal. – Answer (Click Here)
12. Explain the economic dimensions of an economy. – Answer (Click Here)
Click Here: Business Environment in Nepal Questions With Answers