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CSEET Economic and Business Environment Flashcards
50 question-and-answer cards covering Economic and Business Environment as it is examined in CSEET. 24 of them are printed below, taken from across the deck — no signup, no paywall on the preview.
24 sample cards from the Economic and Business Environment deck
Sampled from the end of the deck, so these are different cards from the ones shown on the syllabus page.
What is the relationship between market price and factor cost?
Factor Cost = Market Price − Indirect Taxes + Subsidies; conversely Market Price = Factor Cost + Indirect Taxes − Subsidies.
Name the three methods of calculating National Income.
The Product (Output/Value-Added) Method, the Income Method, and the Expenditure Method.
Explain the Product (Value-Added) Method of computing National Income.
It sums the value added at each stage of production across all sectors (value of output minus value of intermediate goods) to avoid double counting, giving the total value of final goods and services.
What components are summed under the Income Method of National Income?
Rent, wages and salaries, interest, profit, and mixed income of the self-employed — i.e., the total of factor incomes earned by households (plus NFIA for national income).
State the Expenditure Method formula for GDP.
GDP = C + I + G + (X − M), i.e., private Consumption + Investment + Government expenditure + Net Exports (Exports − Imports).
List key problems in the measurement of National Income.
Double counting, non-monetized/subsistence transactions, the black/parallel economy, lack of reliable data, treatment of transfer payments, self-consumed output, and inclusion of illegal income.
Why are transfer payments excluded from National Income?
Transfer payments (pensions, scholarships, subsidies, gifts) are not made in exchange for any current production of goods or services, so including them would overstate national income.
What is double counting and how is it avoided?
Double counting is counting the value of intermediate goods more than once in National Income. It is avoided by using either the value-added method or by counting only final goods and services.
Define the money market.
The market for short-term funds and financial instruments with maturity of one year or less, used to manage short-term liquidity needs of governments, banks, and businesses.
Name common instruments traded in the money market.
Treasury Bills (T-Bills), Commercial Paper, Certificates of Deposit, Call/Notice Money, Commercial Bills, and Repurchase Agreements (Repos).
Define the capital market.
The market for long-term funds (maturity over one year), where securities like shares, debentures, and bonds are issued and traded to finance long-term investment.
Distinguish between the primary market and the secondary market.
The primary market is where new securities are issued for the first time (e.g., IPOs) to raise fresh capital; the secondary market is where existing/issued securities are bought and sold among investors (e.g., stock exchanges).
What is a stock exchange?
An organized and regulated marketplace where existing securities such as shares, bonds, and debentures are bought and sold, providing liquidity, price discovery, and a continuous market for investors.
Name the two major stock exchanges of India and their benchmark indices.
Bombay Stock Exchange (BSE) with the SENSEX index, and the National Stock Exchange (NSE) with the NIFTY 50 index.
Which body regulates the securities market (stock exchanges) in India and when was it established?
The Securities and Exchange Board of India (SEBI), established in 1988 and given statutory status by the SEBI Act, 1992; it protects investors and regulates the securities market.
Which body is the regulator of the banking sector and money market in India?
The Reserve Bank of India (RBI), the central bank, which controls monetary policy, currency issue, and the banking and money markets.
Name the regulators of the insurance and pension sectors in India.
IRDAI (Insurance Regulatory and Development Authority of India) for insurance, and PFRDA (Pension Fund Regulatory and Development Authority) for pensions.
Differentiate between the micro environment and the macro environment of business.
The micro environment consists of forces close to and controllable/influenceable by the firm (customers, suppliers, competitors, intermediaries); the macro environment consists of broad uncontrollable external forces (economic, political, social, technological factors).
List the main components of a firm's micro environment.
Customers, suppliers, competitors, marketing intermediaries, the public, and the organization itself (employees/shareholders).
What does the acronym PESTEL stand for?
Political, Economic, Social, Technological, Environmental (Ecological), and Legal factors — a framework for analyzing the macro/external business environment.
What is the purpose of PESTEL analysis?
To identify and assess the external macro-environmental factors affecting an organization, helping it understand opportunities and threats and make strategic decisions.
What does SWOT analysis stand for, and how are its elements classified?
Strengths, Weaknesses, Opportunities, and Threats. Strengths and Weaknesses are internal factors; Opportunities and Threats are external factors.
How do SWOT and PESTEL analyses differ in focus?
SWOT analyzes both internal (strengths/weaknesses) and external (opportunities/threats) factors of a specific organization; PESTEL focuses only on the external macro-environmental factors.
Define globalization and state two of its key impacts on business.
Globalization is the integration of national economies into a single world economy through trade, capital, technology, and labour flows. Impacts include increased competition and access to wider markets, plus technology transfer, foreign investment, and greater interdependence among economies.
What this deck covers
The Economic and Business Environment deck follows the CSEET Economic and Business Environment syllabus — 4 chapters and 15 topics — so questions land on material that is genuinely examinable rather than trivia around it. That works out to roughly 12.5 cards per chapter.
Answers are written to be recallable, not just readable — averaging about 171 characters, which is long enough to carry the reasoning and short enough to say out loud.
A deck like this earns its keep on the second and third pass. Read the syllabus first so you know the shape of the subject, then use the cards to find the specific facts that have not stuck.
Economic and Business Environment flashcards FAQ
How many Economic and Business Environment flashcards are in this CSEET deck?
50 cards. This page previews 24 of them, sampled evenly across the deck so you can judge the difficulty before installing anything.
Are these CSEET flashcards free?
Yes. The preview here is free to read with no signup, and the full 50-card deck is free inside the Examius app.
What do the Economic and Business Environment cards cover?
They follow the CSEET Economic and Business Environment syllabus — 4 chapters and 15 topics — so the questions track what is actually examinable.
How should I use these flashcards?
Read the syllabus first so you know the shape of the subject, then drill the deck. Examius schedules each card with spaced repetition, so cards you keep missing come back sooner and ones you know drift further apart.