chapter 1

Among which of the following occupations people work for others and get remuneration in return:

• Business

• Employment

• Profession

• None of these

Business activity involves dealing in goods and services on what basis?

• Irregular basis

• One-time basis

• Regular basis

• None of these

Which among the following is the main or leading objective of business:

• Innovation

• Greater productivity

• Profit earning

• Social responsibility

 Among the following given activities, which one is not an economic activity:

• Social welfare

• Trading in goods and services

• Transportation services

• Manufacturing of goods for sale

Since the main objective of business is to earn profits, which of the following is not an appropriate method of earning profits:

• Selling good quality product at reasonable prices

• Inflating the prices

• Selling low quality product at low

• All methods are appropriate

Which is not true about profit earning as an essential objective of business:

• It is a source of income

• It is a source of finance for meeting expansion requirements

• It builds reputation of the firm

• It does not indicate the efficiency of working of business

Giving reservation in jobs to specially abled persons is the example of which business objective

• Social Responsibility

• Innovation

• Market standing

• Profit earning

Manufacturing Industries create which utility

• Form

• Place

• Time

• Possession

Which industry combines various ingredients into a new product?

• Analytical Industry

• Synthetical Industry

• Processing Industry

• none

Which trade is known as import of goods for the purpose of export

• Import

• Export

• Entrepot

• All of the above