Q.1
Capital is not an essential element in
  • Business
  • Profession
  • Employment
  • None of these
Q.2
What does plc stand for
  • public limited company
  • private limited company.
  • peoples lovely companies
  • public liked company
Q.3
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
Q.4
It refers to a body with power to make and enforce laws within a state or over certain groups of people.
  • Business
  • Government
  • Shareholders
  • Stockholders
Q.5
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
Q.6
Define Socio- economic Issues (UND)
  • All issues affecting the economy
  • refers to the issues that the country is facing
  • Issue that the people are facing and has affect to the economy
  • issues are concerns regarding the factors that can impact an individual or family’s social standing and economic status
Q.7
A business plan
  • is useful once your business is operational but not much help during the startup phase
  • is not usually needed to secure financing in your business
  • can serve as a tool for managing your business once it is up and running
  • All of the above
Q.8
What is the definition of a fixed cost?
  • A cost that varies with output
  • A cost that does not vary with output
  • Costs that do not change
  • Costs that change only when agreed
Q.9
What is the formula for Profit?
  • Revenue - Sales
  • Revenue - Costs
  • Revenue - Fixed Costs
  • Revenue - Gross Profit
Q.10
What is the formula for Revenue?
  • Output x Selling Price
  • Output x Cost
  • Selling Price x Costs
  • Selling Price x Total sales
Q.11
Expenses are...
  • The cost of producing a product, otherwise called direct costs
  • Other costs that are not related to producing the product, otherwise known as indirect costs
  • Cost that do not change with output
  • Running costs
Q.12
Which 3 of the following costs would be considered as expenses?
  • Rent
  • Utility bills
  • Tax
  • All of above
Q.13
Expenses can be referred to as 'Overheads'.
  • True
  • False
Q.14
If a business's costs exceeds it sales revenue, it will experience a ........?
  • loan
  • profit
  • loss
  • debt
Q.15
What is a variable cost?
  • A cost which does not change
  • A cost which they must pay even if they produce nothing
  • A cost which changes the more or less the business produces
  • A cost the business pays when they start
Q.16
Which industry sector is an advertising agency part of?
  • The primary sector
  • The secondary sector
  • The tertiary sector
  • None of these
Q.17
Which industry sector are raw materials a part of?
  • The primary sector
  • The secondary sector
  • The tertiary sector
  • All of above
Q.18
What is a car an example of?
  • A cost
  • A service
  • A product
  • All of above
Q.19
Which of the following describes the money going into a business?
  • An input
  • Revenue
  • An output
  • None of these
Q.20
Which 3 of these are costs?
  • Fixed
  • Variable
  • Operating
  • All of above
0 h : 0 m : 1 s