Business Studies Unit One

‘Having a risk is one of the characteristics of a business’. Which of the following risk could be considered by you as a controllable risk by business?

• Changes in consumers taste, pattern and demand

• Changes in production technology

• Wrong decision of management, regarding the usage of the resources of business

• Shortage in raw materials and fuel

• Increase in market competition

Which of the following characteristics is not related to the various methods used to fulfil human needs?

• Common to every person

• Unlimited

• Not essential for the survival

• Can be created by businessmen

• Can be changed by social forces

Select the correct statement related to business functions

• Converting the resources into goods or services is called production factors

• Identifying the needs and wants of customers is called administrative function

• Recruitment, Selection and Training are called information management

• Increasing the quality of output is called research and development

• Financing and investment are called human resource management

‘It is compulsory, that the Commercial banks have to obtain a permission from the Central

Bank, when installing Automated Teller Machine (ATM) and Cash Deposit Machine (CDM)

in places where, people are found most to provide facilities to them. And people also are

made to control their income and saving through this.’ The number of macro

environmental factors in the above event is

• 2

• 3

• 4

• 5

• 6

• A – 1 , 4 B – 5 , 6 C – 2 , 3

• A – 3 , 5 B – 2 , 6 C – 1 , 4

• A – 2 , 3 B – 1 , 5 C – 4 , 6

• A – 4 , 6 B – 3 , 5 C – 1 , 2

• A – 5 , 6 B – 1 , 4 C – 2 , 3

The two main business functions that could be seen in a garment factory are fulfilling………………………………………… through designing, packing and supplying clothing to a market and ………………………………… to the resources, when passing each process at division of labour in a garment factory

Mention four objectives of businesses except earning profit.