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- 1. Multiple Choice
The occupation in which people work for others and get remunerated in return is known as
Business
Profession
Employment
- 2. Multiple Choice
Following are the characteristics of business risks. One of them is not correct. Identify it.
Loss is the reward for risk bearing
Business risks are due to uncertainties
Risk is an essential component of every business
Degree of risk depends mainly upon the nature and size of business
- 3. Multiple Choice
Which of the following is not an example of non-economic activity?
Patriotism
Teaching
Sentiments
Sympathy
- 4. Multiple Choice
Radha enjoys teaching slum areas children in her free time. It is an example of
Economic Activity
Non-Economic Activity
Both (a) and (b)
None of these
- 5. Multiple Choice
Leakage of business secrets to competitors is which cause of business risk.
Natural Cause
Economic Cause
Human Cause
Other Cause
- 6. Multiple Choice
In which economic activity transfer of interest is possible?
Profession
Business
Employment
All of the above
- 7. Multiple Choice
Why a farmer producing crops for self-consumption cannot be called a business? Identify the characteristic of business which is not being highlighted.
Uncertainty of return
Element of Risk
Procurement of Goods and Services
Sale or exchange of Goods and Services
- 8. Multiple Choice
Which of the following cannot be classified as an objective of business :
Investment
Profit Earning
Welfare of Employees
Innovation
- 9. Multiple Choice
Providing opportunities for personal growth and development is related to which kind of business objective.
Social Objective
Human Objective
Economic Objective
Business Objective
- 10. Multiple Choice
Capital is not an essential element in
Business
Profession
Employment
None of these
- 11. Multiple Choice
Sale of old television on OLX does not constitute business.
True
False
Cannot say
- 12. Multiple Choice
Which type of activity this picture represents?
Economic Activity
Non-Economic Activity
None of These
Both of them
- 13. Multiple Choice
Power Ltd. decided to open a factory in the remote area of Bihar. Company's aim is to raise the standard of living of people in the rural areas. Identify the objective of business which is followed by the company.
Economic Obective
Individual Objective
Social Objective
Other Objective
- 14. Multiple Choice
Business is:
Art
Science
Neither art nor science
Both Art and Science
- 15. Multiple Choice
All business risks are controllable.
True
False
- 16. Multiple Choice
Tarang was a leading manufacturer of basic keypad mobiles. However, demand for such mobiles drastically decreased with the origin of smart phones. Identify the main cause of business loss.
Natural Cause
Human Cause
Economic Cause
Other Cause
- 17. Multiple Choice
In which economic activity personalised services such as consultancy and advisory services are being rendered
Business
Profession
Employment
All of the above
- 18. Multiple Choice
Bhavesh is running a Bakery shop. On the occasion of his relative's birthday, he supplied cakes and pastries worth Rs.3000. He refused to take money from his relatives. Will this supply of items is classified as business activity?
Yes
No
- 19. Fill in the Blank
............. includes activities which are connected with production, purchase and sale of goods with the aim of earning profit.
- 20. Multiple Choice
Business risk is not likely to arise due to:
Changes in government policy
Good Management
Employees dishonesty
Profit Earning
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