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WorksheetsPOM Sessional 1 Sec C
Total questions: 10
Worksheet time: 4mins
Which of the following is NOT role of a business?
Policies for economic development
Satisfaction of the human needs
Production of goods and services.
Distribution of goods and services
The corporate form of business includes sole proprietorship, partnership and NGO's
True
False
Select the CORRECT option
Sole proprietorship is a form of organization in which an individual introduces his own capital, and is solely responsible for the results of its operations.
There are no legal formality to be gone through except those required for a particular type of business.
All of the above.
Only A
Which of the following business enterprises does not have a separate legal entity?
Sole Proprietorship
Partnership
Company
Cooperative Society
Michael Porter’s model focuses ______competitive forces.
Three
Five
Seven
Four
Michael Porter’s simple model of five competitive forces does NOT includes:
The bargaining power of suppliers
The bargaining power of customers.
The rivalry among suppliers
The availability of substitute product
The potential threat of entry of new competitors.
Which responsibility comes under social responsibility
Economic responsibility
Family responsibility
National responsibility
All of the above
Social responsibility means responsibility of a business towards
Customers
Shareholders
Workers
Only A
All of the Above
In which occupation do people get salary or wages in return for their work?
Employment
Business
Profession
None of the Above
Tick the INCORRECT option
Degree of risk depends upon the nature and size of business
Business risk arises due to uncertainties.
Profit is not the reward for bearing risk
Risk is essential part of any business
