Evolution and fundamentals of business Quiz-1

Evolution and fundamentals of business Quiz-1

Quiz

 

1. The main difference between a profession and a business is that:
   1.   A profession requires specialized training and education, while a business does not.
   2.   A profession is regulated by the government, while a business is not.
   3.   A profession is focused on providing services, while a business is focused on making a profit.
   4.   All of the above.
2. The important exporting centre for wool and for importing horses in the ancient times was:
   1.   Pataliputra
   2.   Taxila
   3.   Varanasi
   4.   mathura
3. Among business, trade and commerce which of these is considered as a wider term?
   
   1.   Business
   2.   Trade
   3.   Commerce
   4.   None of the above
4. Which of the following is the main reason of decline in indigenous banking in India after independence?
   1.   Nationalisation of banks
   2.   Denationalisation of banks
   3.   Emergence of modern commercial banks.
   4.   Both nationalisation and denationalisation of banks
5. Primary industry engaged in the activity of breeding and reproducing plants and animals is known as
   1.   Extractive industry
   2.   processing industry
   3.   genetic industry
   4.   analytical industry
6. Insurance helps to reduce the risk of trade by:
   1.   Insuring businesses against loss of goods.
   2.   Insuring businesses against loss of profits.
   3.   Insuring businesses against loss of customers.
   4.   All of the above.
7. Which of the following cannot be classified as an auxiliary to Trade?
   1.   Oil extraction
   2.   insurance
   3.   warehousing
   4.   transport
8. Different types of clothes were exported from the city ______, during ancient period.
   1.   Varanasi
   2.   Pataliputra
   3.   Taxila
   4.   Indrapratha
9. production of wheat by Mr. Raj Narayan for his own consumption refers to which type of human activity
   1.   Non economic acitivity
   2.   Economic activity
   3.   Economic and non economic activity
   4.   None of these
10. The industries which provide support services to other industries are known as
    1.   primary indusrties
    2.   secondary industries
    3.   commercial industries
    4.   tertiary industries
11. The economic activity in which there in no need of capita is
    1.   business
    2.   profession
    3.   employment
    4.   none of these
12. The work of production of goods is covered under:
    1.   Business
    2.   Trade
    3.   Commerce
    4.   None of the above
13. Who entered first in India for the purpose of trade during medieval period?
    1.   portuguese
    2.   British
    3.   Duch
    4.   French
14. Code of conduct does not include
    1.   Rules
    2.   Dishonesty
    3.   Morality
    4.   Integrity
15. The uncertainty of rewards and a possibility of loss are known as
    1.   Risks
    2.   Rewards
    3.   Profits
    4.   None of these
16. Which of the following is not a branch of commerce?
    1.   Accounting
    2.   Economics
    3.   Business management
    4.   Marketing
17. In the old age the document which was used to facilitate transfer of money from one hand to another for trading activities is called:
    1.   Hundi
    2.   Bill of exchange
    3.   Promissory note
    4.   None of the above
18. Which of the following is not a role of profit in business?
    1.   To provide a return to investors
    2.   To increase the reputation of business
    3.   To provide funds for future growth
    4.   To ensure the survival of the business
19. "Unexpected increase in competition" relates to whch type of cause of business Risk.
    1.   Economic cause
    2.   Human cause
    3.   Natural cause
    4.   Other causes
20. The main difference between a primary industry and a secondary industry is that:
    1.   A primary industry extracts raw materials from nature, while a secondary industry converts raw materials into finished goods.
    2.   A primary industry is more important than a secondary industry.
    3.   A primary industry is less profitable than a secondary industry.
    4.   None of the above.
21. Economic activities include:
    1.   Production
    2.   Consumption
    3.   Exchange
    4.   All of these
22. Literal meaning of Hundi system was:
    1.   Letter of credit
    2.   Order to pay
    3.   Bearer instrument
    4.   None of the above
23. Which of the following is not a type of employment?
    1.   Full-time
    2.   Part-time
    3.   Contractual
    4.   Volunteer
24. Which of the following is not a characteristic of business activity?
    1.   Production of goods and services
    2.   Sale or exchange of goods and services
    3.   Earning of profits
    4.   Providing social services
25. The main goal of commerce is to:
    1.   Make a profit
    2.   Provide goods and services to customers
    3.   Create jobs
    4.   All of the above