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natuRe and objectives of business

Total questions: 51

Worksheet time: 25mins

Name
Class
Date
1.
Which of the following does not represent the role of business: 
a)
Survival
b)
Growth
c)
Reward
d)
Activity
2.
Sale and purchase of goods and services is called:
a)
profession
b)
business
c)
employment
d)
all
3.

Business is an activity

a)

economic

b)

Anti social

c)

non economic

d)

None of these

4.

Name the occupation in which people works for others and get remunerated in return

a)

profession

b)

employment

c)

business

d)

all of above

5.

Transfer of interest is not possible in

a)

business

b)

employement

c)

profession

6.

What reward a businessman gets for bearing the risks

a)

wages

b)

profits

c)

salary

d)

fees

7.

Name the economic activity in which specialized knowledge is required

a)

business

b)

profession

c)

Employment

8.

Working in company

a)

business

b)

employment

c)

profession

d)

none of thess

9.

Doctor diagnose patient at his clinic is an activity

a)

profession

b)

employment

c)

distribution

d)

Business

10.

Selling fruits at roadside is

a)

profession

b)

business

c)

non economic activity

d)

all of above

11.

Teacher is teaching in school is

a)

business

b)

profession

c)

employment

d)

all of above

12.

Main objective of business is

a)

to earn money

b)

to enjoy

c)

Social welfare

d)

both a and c

13.
What type of cause is fluctuation of price in the market?
a)
Physical
b)
Human
c)
Economic
d)
Natural
14.

Which of the following does not represent the role of profit in business:

a)

Survival

b)

Growth

c)

Reward

d)

Activity

15.
Commerce includes activities relating to trade and ____________
a)
Supporting 
b)
subsidiaries 
c)
auxiliaries to trade
d)
none of these
16.

Ashok Leyland transport company removes hindrance of

a)

Time

b)

Place

c)

Person

d)

Money

17.

In wholesale trade, goods are exchanged in

a)

small quantities

b)

large quantities

c)

none of these

d)

all of these

18.
The industry which provides support services to other industries are known as:
a)
Primary
b)
Secondary
c)
Teritary
d)
Commercial
19.
Cooking food by mother for her family is:
a)
Economic activity
b)
non-economic activity
c)
both
d)
none
20.
Which of the following is not a type of external trade-
a)
export 
b)
import
c)
entrepot
d)
retail 
21.

The market share of Nokia phones in India has shrunk from 80% to 20%. Nokia faces business risk arising from

a)

Human Causes

b)

Economic causes

c)

Natural causes

d)

Other causes

22.
Business risk is not likely to arise due to:
a)
Good management
b)
Changes in government policy
c)
Employee Dishonesty
d)
Power failure
23.
Which of the following can not be classified as an objective of business:
a)
Investment
b)
Productivity
c)
Innovation
d)
Profit Earning
24.
In which activity, specialised knowledge is required?
a)
Business
b)
Profession
c)
Employment
d)
All of the three
25.
Hindrance of place is removed by:
a)
Communication
b)
Advertisement
c)
Warehousing
d)
Transportation
26.
Pisciculture comes under which industry?
a)
Extractive
b)
Genetic
c)
Manufacturing
d)
Constructive
27.
Hindrance of risk is removed by:
a)
Advertisement
b)
warehousing
c)
Insurance
d)
Transport
28.
Human activities are of ____________ types
a)
one
b)
two
c)
three
d)
four
29.
Which of the following is not an example of non-economic activity?
a)
Patriotism 
b)
 teaching 
c)
sentiment 
d)
sympathy
30.
Name the two broad categories of business activities.
a)
 Trade and commerce 
b)
 trade and industry 
c)
industry and commerce
d)
none of these
31.
The possibilities of inadequate profits or even losses due to uncertainties are known as _______
a)
Business contingencies
b)
Business risks
c)
Business ventures 
d)
 None of these
32.

The difference between the amount earned and the amount spent in buying, opearating, or producing something.

a)

Service

b)

Goods

c)

Profit

d)

Profit motive

33.

The market share of Nokia phones in India has shrunk from 80% to 20%. Nokia faces business risk arising from

a)

Human Causes

b)

Economic causes

c)

Natural causes

d)

Other causes

34.
Hindrance of risk is removed by:
a)
Advertisement
b)
warehousing
c)
Insurance
d)
Transport
35.
Following are the characteristics of business risks. One of then is not correct. Please identify it.
a)
Loss is the reward for risk bearing 
b)
Business risks are due to uncertainties 
c)
 Risk is an essential component of every business 
d)
Degree of risk depends mainly upon the nature and size of business
36.
 'Earning of profit is considered to be the subsidiary objective of the business.' The given statement is 
a)
True
b)
 false
c)
 cannot say
d)
on
37.

……………. is an initiative launched by the Government of India on 25th September 2014, to encourage national as well as multinational companies to manufacture their Products in India.

(a)  

38.

Dr Mohan Kumar is working against the post of a senior doctor in a government hospital. He does not discriminate between the rich and poor while treating his patients medically. When he returns home from the hospital, he attends to the poor patients at home free of cost between 6:00 p.m. to 8:00 p.m. Besides, he gives them the information about the employment opportunities.

1. What type of activities does Dr Mohan Kumar perform at home?

a)

Economic

b)

Non-Economic

c)

Profession

d)

Business

39.

…………….. risks means chance of loss without any possibility of gain ( Speculative or Pure)

(a)  

40.

ABC Ltd. is planting trees on the road side. It is trying to achieve … (a)   ………….. objectives of the business.

41.

Conversion of cotton into cloth is an example of genetic industry. True/False?

(a)  

42.

…………..is concerned with holding goods in stock for sale in future.

(a)  

43.
Which one of the following may not be a factor behind starting a business?
a)
 Routine workload 
b)
size of the firm 
c)
finance 
d)
location of the business
44.
The possibilities of inadequate profits or even losses due to uncertainties are known as _______
a)
Business contingencies
b)
Business risks
c)
Business ventures 
d)
 None of these
45.

_____________have to put up resources—money or credit—to start a business

a)

Owners

b)

Customers

c)

Employees

46.

To earn a profit, a person or organization needs management___________________ to plan, organize, and  control the activities of the business

a)

skills

b)

Information

c)

documents

47.
Business risk is not likely to arise due to:
a)
Good management
b)
Changes in government policy
c)
Employee Dishonesty
d)
Power failure
48.
Hindrance of place is removed by:
a)
Communication
b)
Advertisement
c)
Warehousing
d)
Transportation
49.
Pisciculture comes under which industry?
a)
Extractive
b)
Genetic
c)
Manufacturing
d)
Constructive
50.
Transfer of interest exists in the case of 
a)
Profession
b)
employment 
c)
business 
d)
none of these
51.
Name the two broad categories of business activities.
a)
 Trade and commerce 
b)
 trade and industry 
c)
industry and commerce
d)
none of these

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