Q.1
What kind of contract may be difficult to execute because of its flexibility?
  • formal
  • informal
  • regular
  • irregular
Q.2
Which of the following is NOT an economic activity?
  • a doctor practicing
  • a lawyer practicing law
  • a professional cricketer playing cricket
  • a student playing cricket
Q.3
The students of class XI were asked to describe the various types of intermediaries who played a prominent role in the promotion of trade. Arun, one of the student, spoke in particular, about the members of the wealthy business, banking and money lender family institution that exercised great influence during the Mughal period and the days of the East India Company. Identify the type of intermediaries being highlighted by Arun.
  • Commission Agents
  • Brokers
  • Jagat Seths
  • Distributors
Q.4
It was the capital of the Pandayas who controlled the pearl fisheries of the Gulf of Mannar. It attracted foreign merchants, particularly Romans, for carrying out overseas trade.
  • Mathura
  • Tamralipti
  • Surat
  • Madura
Q.5
Which city was famous for 'Gold silk cloth'?
  • Varanasi
  • Mithila
  • Tamralipti
  • Ujjain
Q.6
Which of the broad categories of industries covers oil refinery and sugar mills?
  • (i) Primary
  • (ii) Secondary
  • (iii) Tertiary
  • (iv) None of them
Q.7
The institution of ________ also played an important role during Mughal period and days of east India company, as intermediaries.
  • Nagar Seths
  • Commercial and Industrial Banks
  • Commission Agents
  • Jagat Seths
Q.8
Reward orreturn of business is ......
  • Salary or wages
  • Profit earned
  • fee
  • non of this
Q.9
From which part of India "Chatt" the important business community was belong
  • North India
  • West India
  • East India
  • North East India
  • South India
Q.10
Payable to a specific person,someone ‘respectable’. Liabilityover who received payment.
  • Sah-jog - Darshani
  • Firman-jog - Darshani
  • Dekhan- har - Darshani
  • Firman-jog -Muddati
Q.11
Hundi that is payable on order following a fixed term is called________.
  • Dhani-jog (Darshani)
  • Jokhmi (Muddati)
  • Firman-jog (Muddati)
  • Dhani-jog (Muddati)
Q.12
Hindrance of place is removed by:
  • Communication
  • Advertisement
  • Warehousing
  • Transportation
Q.13
Which of the following cannot be classified as an auxiliary to trade?
  • Mining
  • Insurance
  • Warehousing
  • Transport
Q.14
The possibilities of inadequate profits or even losses due to uncertainties are known as ____________
  • business risk
  • Business contingencies
  • Business ventures
  • None of these
Q.15
Which of the following is not an example of non-economic activity?
  • patriotism
  • teaching
  • sentiment
  • sympathy
Q.16
Earning of profit is considered to be the subsidiary objective of the business.’ The given statement is
  • True
  • false
Q.17
Which of the broad categories of industries covers oil refinery and sugar mills?
  • Primary
  • Secondary
  • Tertiary
  • None of these
Q.18
Commerce includes activities relating to trade and _________________ to trade.
  • auxilaries
  • Subsidiaries
  • Supporting
  • None of these
Q.19
Which of the following does not characterize business activity?
  • Production of goods & services
  • Presence of risk
  • Sale or exchange of goods and services
  • Salary and wages
Q.20
Business risk is not likely to arise due to
  • Changes in government policy
  • Good management
  • Employee dishonesty
  • Power failure
Q.21
The occupation in which people work for others and get remunerated in return is known as
  • Business
  • Profession
  • Employment
  • None of these
Q.22
Economic activities may be classified into business, ___________ and employment
  • profession
  • Vocation
  • Occupation
  • Work
Q.23
The advantage of a private limited liability company is
  • large capital than the partnership
  • it cannot sue and be sued
  • shareholders have unlimited liability
  • it discourages expansion
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