Business Studies/BUSINESS ENVIRONMENT MCQ QUESTION AND ANSWER MCQs :- multiple choice questions and answers. e.g Business Studies MCQS,Business Studies Mock Tests , Business Studies Practice Papers ,Business Studies Sample Test,Business Studies Sample questions

Question 1: A business has to offer a wider choice in purchasing enhanced quality of goods and services in order to maintain an edge over its competitors. The implementation of the new economic policy with liberalisation, privatisation, and globalisation has posed various challenges for the corporate sector. One of the important challenges is explained in the above lines. Identify it.

Increasing competition

More demanding customers

Necessity for change

Market orientation