Which of the following does not characterise business activity?

1

(a)

production of goods and service

(b)

Presence of risk

(c)

Sale or exchange of goods and service

(d)

Salary or wages

Which of the broad categories of industries covers, oil refinery and sugar mills?

1

(a)

Primary

(b)

Secondary

(c)

Tertiary

(d)

None of them

Which of the following cannot be classified as an auxiliary to trade? 

1

(a)

Mining

(b)

Insurance

(c)

Warehousing

(d)

Transport

The occupation in which people work for others and get remunerations in return is known as

1

(a)

Business

(b)

Employment

(c)

Profession

(d)

None of them

The industries which provides support services to other industries are known as

1

(a)

Primary industries

(b)

Secondary industries

(c)

Commercial industries

(d)

Tertiary industries

Which of the following cannot be classified as an objective of business?

1

(a)

Investment

(b)

Productivity

(c)

Innovation

(d)

Profit earning

Which of the following is an economic activity?

1

(a)

Cooking food for self consumption

(b)

Cooking food for sale

(c)

Cooking food for donation

(d)

All of the above

Which of the following is not an insurable risk?

1

(a)

Risk of theft

(b)

Risk of fire

(c)

Risk of change in pattern of demand

(d)

All of these

Which of the following is a cause of business risk?

1

(a)

Natural causes

(b)

Political causes

(c)

Economic causes

(d)

All of the above

Profits are necessary for:

1

(a)

Expansion

(b)

Survival

(c)

Innovation

(d)

All of the above

State the different types of economic activities.

3

(a)

Why is business considered an economic activity?

3

(a)

Explain the concept of business.

3

(a)

Differentiate between economic and non-economic activities.

3

(a)

What are the functions of commerce?

3

(a)

Describe the activities relating to commerce.

5

(a)

What factors are important to be considered while starting a business? Explain.

5

(a)

Define Profession. Discuss its salient features.

5

(a)

Explain the economic and social objectives of the business.

5

(a)

1. Define commerce. Discuss its importance in the business world.

   5

   (a)

2. If one starts a business, which objective will be of utmost importance to you and why?

   5

   (a)