WorksheetsBusiness,Trade and Commerce
Total questions: 40
Worksheet time: 20mins
Documents used for carrying out transactions in which money passed from hand to hand in ancient times.
a. Cheques,
b. B/E,
c. Hundi,
d. Demand Draft.
How many crops were raised by ancient people in a year?
a. One to two,
b. Four to five,
c. three to four,
d. two to three.
Which place was prominent for skilled artisans to work and convert raw material into finished goods which were high in demand?
a. Village,
b. Karkhana,
c. Jhopari,
d. Chopal.
Which type of duty was used to be charged on imported articles by King in ancient times?
a. Import Duty,
b. Sales Tex,
c. Export Duty,
d. Octroi.
Patliputra was popularly known as commercial centre for……….
a. Export of stones,
b. Import of Horses,
c. Centre of learning,
d. Centre of Textiles.
The position of an enterprise in relation to its competitor are called
a. Worker Performance
c. Earning Profit
b. Productivity
d. Market Standing
The main objective of business is
a. Manager Performance
b. Earning Profit
c. Social Responsibility
d. innovation
In which economic activity capital is not required
a. Business
b. Employment
c. Profession
d. Trade
In which economic activity rendering of personalized expert service is required .
a. Profession
b. Business
c. Employment
d. Trade
in which economic activity transfer of interest is not possible
a.Trade
b. Employment
c. Business
d. Industry
The industries which provide support services to other industries are known as
a) Primary industries
b) Secondary industries
c) Commercial industries
d) Tertiary industries
Which of the following broad categories of industries covers oil refinery and sugar mills ?
a) Primary industries
b) Secondary industries
c) Commercial industries
d) Tertiary industries
An industry which is concerned with the extraction of natural resources from the earth .
a). Synthetically industry
b).Assembling Industry
c). Genetic Industry
d). Primary Industry
An industry which is concerned with breeding , reproduction and multiplication of species.
a). Analytical Industry
b). Genetic Industry
c). Process Industry
d). Tertiary Industry
Commerce is a combination of two types of activities these are
a) industry and trade
b) trade and Commerce
c) Trade and auxiliaries to trade
d) production and consumption of goods
This trade refers to purchase of goods from one country for the purpose of selling them to another country. Identify it.
a) import Trade
b) entreport trade
c) wholesale trade
d) export trade
There is a time gap between production and consumption of goods therefore warehousing is required which overcomes the problem of..
a) Funds
b) Storage
c) Time
d) place
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) hindrance of place
b) hindrance of time
c) hindrance of finance
d) hindrance of information
. Which of the following combinations are correct for internal trade?
a) Import and export
b) wholesale trade and entreport
c) retail trade and import Trade
d) wholesale and retail trade
Which among the following is not a characteristic of a business activity:
a) Production or procurement of goods and services.
b) Sale or exchange of goods and services.
c) Donation of a percentage of profit for charity.
d) Uncertainty of returns.
Due to which characteristic of business there is always a possibility of losses being incurred, despite the best efforts put into the business:
a) Uncertainty of returns
b) Production or procurement of goods and services .
c) Economic activity
d) Profit earning.
Business Risk generated out of carelessness or negligence of employees would emerge due to which of the following cause:
a) Natural cause.
b) Human Cause.
c) Economic cause
d) Other cause.
The first five year plan was implemented in the year 1950.
True
False
India relied heavily on borrowings from foreign sources and finally , agreed to economic liberalisation in 1991
True
False
Initially, Europeans come to punder but soon they realised the rewards of trade in exchange of gold and silver
True
False
Indraprastha was the social junction on the royal road where most routes leading to the east, west, south and north converged.
True
False
Documents such as Hundi and Chitti were used for carrying out transactions in which barter system used.
True
False
Salary is reward for business .
True
False
Chartered Accountancy is a Profession
True
False
Industry may be divided into broad categories namely analytical synthetical and processing industry
True
False
Extraction industries draw products from natural resources
True
False
Secondary industries process such material to produce goods for final consumption by other industrial units
True
False
. If goods are produced even for personal consumption, it can be called a business activity
True
False
Economic activities are those by which we can earn our livelihood.-
True
False
Trade is classified into two broad categories- internal and external
True
False
Risk can be minimized but cannot be eliminated.
True
False
Human causes include such unexpected events like flood, famine, earthquake etc.
True
False
Greater the risk involved in a business , higher is the choice of profit.
True
False
Trade is buying and selling of goods and services.
True
False
Commerce provides the necessary link among producers, consumers and middlemen.
True
False
