Page 209 - DMGT401Business Environment

Business Environment

Notes Fill in the blanks:
6. ……………………Act was created to protect interests of the common man.
7. A group of investors decide not to go to quote any offer at an auction. It is known
as…………………
8. …………………means all the notes excluding one rupee notes.
9. If you visit abroad and shop there, that transaction would be a ………………account
transaction.
10. The formal patent system in India was introduced by………………..
11. The Maharaja, a popular mascot, is a patented logo of……………
12. ………………days is time limit to get information if the information concerns someone's'
constitutional rights.

8.7 Review Questions

1. "The Indian judiciary is known for its independence and extensive powers". Comment.
2. What would have happened if there was no MRTP Act? Would it affect you as a consumer?

3. Analyse the governing procedure and rules for MRTP Act.
4. "The MRTP Act was implemented in keeping with India's adopted political ideology of
socialism." Discuss the validity of the statement.

5. Critically analyse the Foreign Exchange Regulation Act.
6. What do you think, which one holds good in Indian environment – FERA or FEMA?
Justify.

7. Contrast between the transactions in the capital and current account. Which is most likely
to involve you as a common man?
8. Discuss the relevance of the penalty system under FEMA.

9. “Patents are just as good as valuable assets for any firm”. Discuss.
10. How important it is for a pharmaceutical firm to get patents? Discuss the need for patents
in other industries also.

11. Earlier 'new use for a known substance' could not be patented. Why? What would happen
if word 'mere' is added to it, (i.e. mere new use)?
12. Critically analyse the concept of IMD.

13. "Compulsory licenses in the new patent bill are not very effective". Comment.
14. As a citizen of India, what kind of information you can seek and what can you do if you are
not getting the required information?

15. Analyse the role of government in RTI Act. How can a good citizen be an ambassador of
RTI Act?

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