BACHELOR OF BUSINESS ADMINISTRATION

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BUSINESS ADMINISTRATION

BUSINESS ENVIRONMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
No country is capable enough to produce all the goods and services itself required for its use. Almost all the countries have certain goods and services in surplus and in certain others, deficiency. In this way all of them feel the necessity for exporting the goods and services in surplus and those of deficiency, to import. In order to solve this problem several countries have zeroed in the complexities of import export business. Consequently, balance is getting established in the demand and supply of goods and services.Identify the concept of business environment discussed here. *
A
Globalisation
B
Privatisation
C
Liberalisation
D
All of the above
Explanation: 

Detailed explanation-1: -Answer: No country in the world is self-sufficient in all its needs. Goods produced by one country are required by the other and vice versa. Hence differences in resources, needs and development among nations create conditions for international trade between them.

Detailed explanation-2: -In economics, exporting is the practice of producing a good or service in one country and selling it to consumers in another country.

Detailed explanation-3: -The purchase of goods from a foreign country is called import.

Detailed explanation-4: -Answer and Explanation: Countries specialize in the production of certain goods because of comparative advantage. Countries have a comparative advantage in producing certain goods due to the lower opportunity costs of producing one good over the others.

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