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class11 ch 1 nature of business

Total questions: 15

Worksheet time: 5mins

Name
Class
Date
1.
How can a business reduce the risk of failure?
a)
By selling less products
b)
By keeping the cost of their products low
c)
By carrying out market research
d)
By staying open late.
2.
In order to be successful a business needs to?
a)
Identify its customers needs and wants
b)
Have a big shop
c)
Sell products really cheap
d)
Have lots of sales
3.
What is an entrepreneur?
a)
Someone who takes a calculated risk through starting a business
b)
Someone who gives up when something goes wrong
c)
Someone who doe not understand the business environment
d)
Someone who does not take time to consider the risks
4.

Items that can be seen and touched are known as...

a)

Goods

b)

Services

5.

People who are part owners of a company are known as...

a)

Stakeholders

b)

Shareholders

c)

Customers

d)

People

6.

Someone who starts, operates and assumes the risk of a business is known as an...

a)

Investor

b)

Interest person

c)

Entrepreneur

d)

Business inventor

7.

reliance companies would be classified as which size of business?

a)

Small

b)

medium

c)

large

d)

extra large

8.

The owner of a business being responsible for all debts is known as....

a)

Limited liability

b)

Unlimited liability

9.
What is an example of a service?
a)
A bus journey
b)
a bus
A bus
c)
a bus stop
A bus stop
10.

which is automobile industry ?

a)

assembly

b)

auxillary to trade

c)

analytical industry

d)

processing

e)

trade

11.

activities which are meant for assisiting trade are know as

(a)  

12.

what is entrepot trade ?

4 lines
13.

make in india , initiative launched by the government of india in the year

a)

2014

b)

2016

c)

2010

d)

1998

14.

if the market condition is unfavourable -------------- size of the business is favourable

(a)  

15.

The founder of the business has to consider in advance the ------- under various tax laws and their impact on the business

(a)