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

Business risk is not likely to arise due to

1

(a)

Changes in government policy

(b)

Good management

(c)

Employee dishonesty

(d)

Power failure

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 a business activity?

1

(a)

Production of goods

(b)

Trading of goods

(c)

Storage of goods

(d)

Working in a hospital for wages

Which of the following is not a feature of employment?

1

(a)

Fixed wages

(b)

Agreement between employer and employee

(c)

Terms and conditions

(d)

Element of risk

Choose the odd one out:

1

(a)

Insurance

(b)

Warehousing

(c)

Mining

(d)

Banking

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

Objectives of business do not include:

1

(a)

Higher returns to investors

(b)

Employee satisfaction

(c)

Maximum price from consumers

(d)

Market standing.

Which of the following is an example of genetic industry?

1

(a)

Mining

(b)

Lumbering

(c)

Animal husbandry

(d)

Hunting

Which of the following is an example of secondary industry?

1

(a)

Genetic industry

(b)

Extractive industry

(c)

Synthetic industry

(d)

All of the above