Evolution and Fundamentals of Business Quiz-4

Evolution and Fundamentals of Business Quiz-4

Quiz

 

1. Which of the following is not a business activity?
   1.   Production of goods
   2.   Work in a factory for wages
   3.   Exchange of goods
   4.   Transportation
2. Which of the following is not an industry?
   1.   Manufacturing
   2.   Agriculture
   3.   Retail
   4.   Education
3. What are the challenges of auxiliaries to trade?
   1.   The cost of auxiliaries to trade can be high.
   2.   The availability of auxiliaries to trade can be limited.
   3.   The quality of auxiliaries to trade can vary.
   4.   All of these
4. The position of an enterprise in relation to its competitors termed as
   1.   Market survival
   2.   Growth
   3.   Market Standing
   4.   None of these
5. Industries like sugar mill or oil refinery are put under which category-
   1.   Primary
   2.   Secondary
   3.   Tertiary
   4.   None of the above
6. What are the benefits of auxiliaries to trade?
   1.   They help to make trade more efficient and effective.
   2.   They help to reduce the cost of trade.
   3.   They help to increase the volume of trade.
   4.   All of these
7. What is the meaning of profession?
   1.   A profession is an occupation that requires specialized knowledge and skills.
   2.   Professions are often regulated by a professional association or board.
   3.   Members of a profession are expected to uphold a code of ethics.
   4.   All of these
8. Which of the following is not a cause of business risk?
   1.   Breakdown of machinery
   2.   Efficient management
   3.   Riot
   4.   Changing government policy
9. The lack of knowledge about what is going to happen in the future is
   1.   Risk
   2.   Uncertainty
   3.   Both of the above
   4.   None of these
10. Which of the following comes under economic causes of risk-?
    1.   Flood, famine
    2.   Negligence of workers, stoppage of work
    3.   Demand for goods, competition
    4.   None of these
11. Following are the characteristics of business risks. Identify the incorrect one
    1.   Loss is the reward for risk bearing
    2.   Business risks are due to uncertainties
    3.   Risk is an essential component of every business
    4.   Degree of risk depends mainly upon the nature and size of business
12. The industry concerned with using the material which have already been extracted at the primary stage is-
    
    1.   Primary
    2.   Tertiary
    3.   secondary
    4.   None of these
13. In which form of economic activity code of conduct is prescribed-
    1.   Business
    2.   Employment
    3.   Profession
    4.   None of these
14. The production of goods takes place in particular locations but they are used at different places. So, the obstacle of place is removed by-
    1.   Banking
    2.   Advertising
    3.   Insurance
    4.   Transport
15. What is a hundi?
    1.   A hundi is a bill of exchange drawn on a specified banker and payable on demand.
    2.   A hundi is a type of promissory note that is used in India.
    3.   A hundi is a type of negotiable instrument that is used in India.
    4.   All of the above.
16. Which auxiliary to trade bridges the time gap between production and consumption?
    1.   Advertising
    2.   Banking
    3.   Insurance
    4.   Ware housing
17. Which of the following in not a true statement?
    1.   The scope of commerce is narrower than business.
    2.   Commerce includes trade and auxiliaries to trade.
    3.   Foreign trade is purchase and sale by the traders of the same country.
    4.   Traders serve as a link between producers and consumers.
18. Which one is considered with production or processing of goods and materials-
    1.   Trade
    2.   Industry
    3.   Commerce
    4.   None of these
19. What is an industry?
    1.   An industry is a group of businesses that produce similar products or services.
    2.   Industries are often classified by the type of product or service they produce, such as the manufacturing industry, the service industry, or the agricultural industry.
    3.   Industries are also often classified by the size of the businesses that make up the industry, such as the small business industry or the large business industry.
    4.   All of these
20. Name the occupation in which people work for others in return for wages or salaries?
    1.   Employment
    2.   Business
    3.   Profession
    4.   None of the above