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Business,Trade and Commerce

Total questions: 40

Worksheet time: 20mins

Name
Class
Date
1.

Documents used for carrying out transactions in which money passed from hand to hand in ancient times.

a)

a. Cheques,

b)

b. B/E,

c)

c. Hundi,

d)

d. Demand Draft.

2.

How many crops were raised by ancient people in a year?

a)

a. One to two,

b)

b. Four to five,

c)

c. three to four,

d)

d. two to three.

3.

Which place was prominent for skilled artisans to work and convert raw material into finished goods which were high in demand?

a)

a. Village,

b)

b. Karkhana,

c)

c. Jhopari,

d)

d. Chopal.

4.

Which type of duty was used to be charged on imported articles by King in ancient times?

a)

a. Import Duty,

b)

b. Sales Tex,

c)

c. Export Duty,

d)

d. Octroi.

5.

Patliputra was popularly known as commercial centre for……….

a)

a. Export of stones,

b)

b. Import of Horses,

c)

c. Centre of learning,

d)

d. Centre of Textiles.

6.

The position of an enterprise in relation to its competitor are called

a)

a. Worker Performance

b)

c. Earning Profit

c)

b. Productivity

d)

d. Market Standing

7.

The main objective of business is

a)

a. Manager Performance

b)

b. Earning Profit

c)

c. Social Responsibility

d)

d. innovation

8.

In which economic activity capital is not required

a)

a. Business

b)

b. Employment

c)

c. Profession

d)

d. Trade

9.

In which economic activity rendering of personalized expert service is required .

a)

a. Profession

b)

b. Business

c)

c. Employment

d)

d. Trade

10.

in which economic activity transfer of interest is not possible

a)

a.Trade

b)

b. Employment

c)

c. Business

d)

d. Industry

11.

The industries which provide support services to other industries are known as

a)

a) Primary industries

b)

b) Secondary industries

c)

c) Commercial industries

d)

d) Tertiary industries

12.

Which of the following broad categories of industries covers oil refinery and sugar mills ?

a)

a) Primary industries

b)

b) Secondary industries

c)

c) Commercial industries

d)

d) Tertiary industries

13.

An industry which is concerned with the extraction of natural resources from the earth .

a)

a). Synthetically industry

b)

b).Assembling Industry

c)

c). Genetic Industry

d)

d). Primary Industry

14.

An industry which is concerned with breeding , reproduction and multiplication of species.

a)

a). Analytical Industry

b)

b). Genetic Industry

c)

c). Process Industry

d)

d). Tertiary Industry

15.

Commerce is a combination of two types of activities these are

a)

a) industry and trade

b)

b) trade and Commerce

c)

c) Trade and auxiliaries to trade

d)

d) production and consumption of goods

16.

This trade refers to purchase of goods from one country for the purpose of selling them to another country. Identify it.

a)

a) import Trade

b)

b) entreport trade

c)

c) wholesale trade

d)

d) export trade

17.

There is a time gap between production and consumption of goods therefore warehousing is required which overcomes the problem of..

a)

a) Funds

b)

b) Storage

c)

c) Time

d)

d) place

18.

No business can survive without enough amount of funds.Banks are providing financial assistance to the businesses to overcome one of the following hindrance of trade.

a)

a) hindrance of place

b)

b) hindrance of time

c)

c) hindrance of finance

d)

d) hindrance of information

19.

. Which of the following combinations are correct for internal trade?

a)

a) Import and export

b)

b) wholesale trade and entreport

c)

c) retail trade and import Trade

d)

d) wholesale and retail trade

20.

Which among the following is not a characteristic of a business activity:

a)

a) Production or procurement of goods and services.

b)

b) Sale or exchange of goods and services.

c)

c) Donation of a percentage of profit for charity.

d)

d) Uncertainty of returns.

21.

Due to which characteristic of business there is always a possibility of losses being incurred, despite the best efforts put into the business:

a)

a) Uncertainty of returns

b)

b) Production or procurement of goods and services .

c)

c) Economic activity

d)

d) Profit earning.

22.

Business Risk generated out of carelessness or negligence of employees would emerge due to which of the following cause:

a)

a) Natural cause.

b)

b) Human Cause.

c)

c) Economic cause

d)

d) Other cause.

23.

The first five year plan was implemented in the year 1950.

a)

True

b)

False

24.

India relied heavily on borrowings from foreign sources and finally , agreed to economic liberalisation in 1991

a)

True

b)

False

25.

Initially, Europeans come to punder but soon they realised the rewards of trade in exchange of gold and silver

a)

True

b)

False

26.

Indraprastha was the social junction on the royal road where most routes leading to the east, west, south and north converged.

a)

True

b)

False

27.

Documents such as Hundi and Chitti were used for carrying out transactions in which barter system used.

a)

True

b)

False

28.

Salary is reward for business .

a)

True

b)

False

29.

Chartered Accountancy is a Profession

a)

True

b)

False

30.

Industry may be divided into broad categories namely analytical synthetical and processing industry

a)

True

b)

False

31.

Extraction industries draw products from natural resources

a)

True

b)

False

32.

Secondary industries process such material to produce goods for final consumption by other industrial units

a)

True

b)

False

33.

. If goods are produced even for personal consumption, it can be called a business activity

a)

True

b)

False

34.

Economic activities are those by which we can earn our livelihood.-

a)

True

b)

False

35.

Trade is classified into two broad categories- internal and external

a)

True

b)

False

36.

Risk can be minimized but cannot be eliminated.

a)

True

b)

False

37.

Human causes include such unexpected events like flood, famine, earthquake etc.

a)

True

b)

False

38.

Greater the risk involved in a business , higher is the choice of profit.

a)

True

b)

False

39.

Trade is buying and selling of goods and services.

a)

True

b)

False

40.

Commerce provides the necessary link among producers, consumers and middlemen.

a)

True

b)

False