Nature and purpose of business

The possibilities of inadequate profits or even losses due to uncertainties are known as _______

• Business contingencies
• Business risks
• Business ventures 
•  None of these

Which one of the following may not be a factor behind starting a business?

•  Routine workload 
• size of the firm 
• finance 
• location of the business

Name the two broad categories of business activities.

•  Trade and commerce 
•  trade and industry 
• industry and commerce
• none of these

Commerce includes activities relating to trade and ____________

• Supporting 
• subsidiaries 
• auxiliaries to trade
• none of these

Following are the characteristics of business risks. One of them is not correct. Please identify it.

• Loss is the reward for risk bearing

• Business risks are due to uncertainties

• Risk is an essential component of every business

• Degree of risk depends mainly upon the nature and size of business

Transfer of interest exists in the case of 

• Profession
• employment 
• business 
• none of these

Which of the following is not an example of non-economic activity?

• Patriotism 
•  teaching 
• sentiment 
• sympathy

Which of the following is not a type of external trade-

• export 
• import
• entrepot
• retail 

Human activities are of ____________ types

• one
• two
• three
• four

Hindrance of risk is removed by:

• Advertisement
• warehousing
• Insurance
• Transport