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Class 11 Business Studies
Nature And Purpose Of Business
Quiz 1
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Business risk is not likely to arise due to
0%
Changes in government policy
0%
Good management
0%
Employee dishonesty
0%
Power failure
Explanation
Good management
The industries which provide support services to other industries are known as
0%
Primary industries
0%
Secondary industries
0%
Commercial industries
0%
Tertiary industries
Explanation
Tertiary industries
The occupation in which people work for others and get remunerated in return is known as
0%
Business
0%
Profession
0%
Employment
0%
None of these
Explanation
Employment
Which of the following does not characterize business activity?
0%
Production of goods & services
0%
Presence of risk
0%
Sale or exchange of goods and services
0%
Salary and wages
Explanation
Salary and wages
Economic activities may be classified into business, ___________ and employment
0%
Profession
0%
occupation
0%
vocation
0%
work
Explanation
Profession
Human activities are of ____________ types
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One
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two
0%
three
0%
four
Explanation
two
Following are the characteristics of business risks. One of then is not correct. Please identify it.
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Loss is the reward for risk bearing
0%
Business risks are due to uncertainties
0%
Risk is an essential component of every business
0%
Degree of risk depends mainly upon the nature and size of business
Explanation
Loss is the reward for risk bearing
Commerce includes activities relating to trade and _________________ to trade.
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Supporting
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subsidiaries
0%
auxiliaries
0%
none of these
Explanation
auxiliaries
Which one of the following may not be a factor behind starting a business?
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Routine workload
0%
size of the firm
0%
finance
0%
location of the business
Explanation
Routine workload
Which of the following cannot be classified as an objective of business?
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Investment
0%
Productivity
0%
Innovation
0%
Profit earning
Explanation
Investment
Which of the following cannot be classified as an auxiliary to trade?
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Mining
0%
Insurance
0%
Warehousing
0%
Transport
Explanation
Mining
Which of the broad categories of industries covers oil refinery and sugar mills?
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Primary
0%
Secondary
0%
Tertiary
0%
None of these
Explanation
Secondary
Which of the following is not an example of non-economic activity?
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Patriotism
0%
teaching
0%
sentiment
0%
sympathy
Explanation
teaching
Transfer of interest exists in the case of
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Profession
0%
employment
0%
business
0%
none of these
Explanation
business
‘Earning of profit is considered to be the subsidiary objective of the business. ’ The given statement is
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True
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false
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cannot say
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None
Explanation
false
Name the two broad categories of business activities.
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Trade and commerce
0%
trade and industry
0%
industry and commerce
0%
none of these
Explanation
industry and commerce
The possibilities of inadequate profits or even losses due to uncertainties are known as ____________
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Business contingencies
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Business risks
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Business ventures
0%
None of these
Explanation
Business risks
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