Teaching Business Studies Introduction to Business Question Bank

done MCQ - Introduction to Business Total Questions - 50

• question_answer1)
  What is the purpose of doing business?
  A)
   To sale the products done clear
  B)
   To earn money done clear
  C)
   To influence the life of people done clear
  D)
  None of the above done clear
  View Solution play_arrow

• question_answer2)
  The term business is derived from the word
  A)
   Sale     done clear
  B)
   human activity done clear
  C)
   Busy    done clear
  D)
   busy sale done clear
  View Solution play_arrow

• question_answer3)
  Who among the following gave the definition of Business "Business may be defined as a human activity directed towards producing as acquiring wealth through buying and selling of goods? 
  A)
  LH Haney         done clear
  B)
   Dr WR Spriegel done clear
  C)
  Adam Smith      done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer4)
  Any activity with the purpose of earning money or livelihood?
  A)
  Production of goods        done clear
  B)
   Economic activity done clear
  C)
  Human activity  done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer5)
  Which of the following is not involved in business?
  A)
   Profit earning done clear
  B)
  Purchase of products done clear
  C)
  Transfer or exchange of goods and services done clear
  D)
   None of the above done clear
  View Solution play_arrow

• question_answer6)
  What is an essential characteristic of business?
  A)
  Sale or exchange of goods and services done clear
  B)
  Profit making done clear
  C)
  Customer satisfaction done clear
  D)
  All of the above done clear
  View Solution play_arrow

• question_answer7)
  Which of the following is the primary objective of business?
  A)
  Customer needs and satisfaction done clear
  B)
  Earning profit done clear
  C)
  Production of goods done clear
  D)
  None of the above done clear
  View Solution play_arrow

• question_answer8)
  Which of the following objective is customer oriented?
  A)
  Economic activity done clear
  B)
  Earning profit done clear
  C)
  Sale or purchase of goods done clear
  D)
  Customer satisfaction done clear
  View Solution play_arrow

• question_answer9)

  Consider the following statement(s).

  I. Productivity can be made better only when the available resources are properly utilised.

  II. Business is expected to make the best possible use of scarce resources.

  III. Business being an economic activity has mainly concerned with the objective of earning profit.

  Which of the statement(s) given above is/are correct?

  A)
  I and II  done clear
  B)
   II and III done clear
  C)
  I and III done clear
  D)
   All of these done clear
  View Solution play_arrow

• question_answer10)

  Consider the following statement(s)

  I. Business deals in goods and services on regular basis.

  II. One single transaction of sale or purchase does not constitute business.

  III. Every business is free from risks.

  Which of the statement(s) given above is/are correct?

  A)
  I and II  done clear
  B)
   I and III done clear
  C)
  II and III            done clear
  D)
   All of these done clear
  View Solution play_arrow

• question_answer11)

  Consider the following statements.

  I. The primary objective of business is to earn profit.

  II. Services includes transportation, banking insurance etc.

  III. The term business is derived from the word 'busy'.

  Which of the statement(s) given above is/are correct?

  A)
  I and II done clear
  B)
   II and III done clear
  C)
  I and III done clear
  D)
   All of these done clear
  View Solution play_arrow

• question_answer12)
  Which of the following refers to the position of an enterprise in relation to its competitors?
  A)
  Survival             done clear
  B)
   Growth done clear
  C)
  Productivity       done clear
  D)
   Market standing done clear
  View Solution play_arrow

• question_answer13)
  Which of the following is the measure of success in every organisation?
  A)
  Sales of products done clear
  B)
  Value of the goods done clear
  C)
  Growth rate                    done clear
  D)
  Creation of customer done clear
  View Solution play_arrow

• question_answer14)
  Which of the following defined the objective of business in society as "The purpose of business is not only earning profit but also discharging responsibilities towards society"?
  A)
  LH Haney         done clear
  B)
  Dr WR Spriegel done clear
  C)
  Henry Fayol       done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer15)
  Which among the following has the duty to produce and supply products of proper quality to satisfy the expectations of consumers?
  A)
   Businessman     done clear
  B)
   Shopkeeper done clear
  C)
  Governments      done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer16)
  Match the following

  List I		List II
  A.	Manufacturing industry	1.	Synthetic
  B.	Internal trade	2.	Retail
  C.	External trade	3.	Entrepot
  D.	Auxiliary to trade	4.	Advertising

  Codes
  A)
           A\[\to \]1, B\[\to \]2, C\[\to \]3, D\[\to \]4      done clear
  B)
  A\[\to \]4, B\[\to \]3, C\[\to \]2, D\[\to \]1 done clear
  C)
  A\[\to \]1, B\[\to \]3, C\[\to \]2, D\[\to \]4 done clear
  D)
  A\[\to \]4, B\[\to \]1, C\[\to \]2, D\[\to \]3 done clear
  View Solution play_arrow

• question_answer17)
  Which among the following requires mechanical appliances and technical skills?
  A)
  Industry done clear
  B)
  Trade done clear
  C)
  Export   done clear
  D)
  Entrepot done clear
  View Solution play_arrow

• question_answer18)
  Which of the following concerned with the production of goods and services by converting raw material into useful products?
  A)
  Trade    done clear
  B)
  Marketing done clear
  C)
  Production         done clear
  D)
   All of these done clear
  View Solution play_arrow

• question_answer19)

  Consider the following statement(s)

  I. Anti-social practices, black marketing, adulteration, misleading informations exploit people.

  II. No business enterprise can flourish in a competitive world without innovation.

  III. The success of every organisation is not measured by the growth rate.

  Which of the statement(s) given above is/are correct?

  A)
  I and II done clear
  B)
  II and III done clear
  C)
  I and III done clear
  D)
  All of these done clear
  View Solution play_arrow

• question_answer20)

  Consider the following statement(s).

  I. Business enterprises need managers to conduct and coordinate business activity.

  II. Business objective means the purpose for which a business is established and carried on.

  III. Business is an integral part of society.

  Which of the statement(s) given above is/are correct?

  A)
  I and II              done clear
  B)
  II and III done clear
  C)
  I and III             done clear
  D)
  All of these done clear
  View Solution play_arrow

• question_answer21)
  Match the following

  List I		List II
  A.	In such industries, a basic raw material is analysed and separated into different finished goods.	1.	Analytical industry
  B.	Under this, two or more raw materials are combined together to make a new product.	2.	Synthetical industry
  C.	It involves successive stage for manufacturing a product.	3.	Processing industry
  D.	Under this different components are assembled to make a finished goods.	4.	Assembling industry

  Codes
  A)
           A\[\to \]1, B\[\to \]3, C\[\to \]2, D\[\to \]4      done clear
  B)
  A\[\to \]1, B\[\to \]2, C\[\to \]3, D\[\to \]4 done clear
  C)
  A\[\to \]2, B\[\to \]1, C\[\to \]4, D\[\to \]3 done clear
  D)
  A\[\to \]4, B\[\to \]3, C\[\to \]2, D\[\to \]1 done clear
  View Solution play_arrow

• question_answer22)
  In which of the following both trade and auxiliaries to trade are included?
  A)
  Marketing           done clear
  B)
  Manufacturing done clear
  C)
  Commerce         done clear
  D)
   Financing done clear
  View Solution play_arrow

• question_answer23)

  Consider the following statement(s).

  I. All those activities which directly or indirectly helps in the distribution of goods to the ultimate consumer is called trade.

  II. Commerce embraces all those activities which are necessary for maintaining a free flow of goods and services.

  III. Commerce provides the necessary link between the producers and the consumers.

  Which of the statement(s) given above is/are correct?

  A)
  I and II  done clear
  B)
  II and III done clear
  C)
  I and III done clear
  D)
   All of these done clear
  View Solution play_arrow

• question_answer24)
  Which of the following can be defined as the activities that are required to facilitate the purchase and sale of goods?
  A)
  Trade    done clear
  B)
  Commerce done clear
  C)
  Auxiliaries to trade          done clear
  D)
  Expect done clear
  View Solution play_arrow

• question_answer25)

  Which of the following is correct regarding trade?

  I. It involves the buying and selling of goods.

  II. It is an integral part of commerce.

  III. It helps in making the goods produced available to ultimate consumers or users.

  Select the correct answer using the codes given below

  A)
  I and III             done clear
  B)
   I and II done clear
  C)
  II and III            done clear
  D)
   All of these done clear
  View Solution play_arrow

• question_answer26)
  Match the following

  List I		List II
  A.	Buying and selling of goods in large quantities.	1.	Export
  B.	Buying and selling of goods and services between two or more countries.	2.	Whole sale trade
  C.	Sale of goods to a foreign country.	3.	Foreign trade
  D.	Purchase of goods from foreign countries.	4.	Import

  Codes
  A)
           A\[\to \]2, B\[\to \]3, C\[\to \]1, D\[\to \]4      done clear
  B)
  A\[\to \]1, B\[\to \]2, C\[\to \]3, D\[\to \]4 done clear
  C)
  A\[\to \]3, B\[\to \]4, C\[\to \]2, D\[\to \]1 done clear
  D)
  A\[\to \]2, B\[\to \]4, C\[\to \]3, D\[\to \]1 done clear
  View Solution play_arrow

• question_answer27)
  Which of the following inform the consumers about the availability of various products and services?
  A)
  Wholesale trade  done clear
  B)
   Warehousing done clear
  C)
  Advertising         done clear
  D)
  Marketing done clear
  View Solution play_arrow

• question_answer28)
  Which of the following provides protection from risk such as risk of loss due to fire, theft accident etc?
  A)
  Banking done clear
  B)
  Financing done clear
  C)
  Insurance           done clear
  D)
  None of these done clear
  View Solution play_arrow

• question_answer29)

  Consider the following statement(s).

  I. A profession is something which is more than a job.

  II. Those engaged in profession are called professionals.

  III. It is a carrier for someone who is to be competent in their respective area.

  Which of the statement(s) given above is/are correct?

  A)
  I and II  done clear
  B)
  II and III done clear
  C)
  I and III done clear
  D)
  All of these done clear
  View Solution play_arrow

• question_answer30)

  Consider the following statement(s).

  I. Profession involves a confidential relationship between practitioner and a client.

  II. It is bound by a distinctive ethical code.

  III. Professionals earn monetary gain by charging professional fees.

  Which of the statement(s) given above is/are correct?

  A)
  I and II  done clear
  B)
  II and III done clear
  C)
  I and II  done clear
  D)
  All of these done clear
  View Solution play_arrow

• question_answer31)
  Which among the following works for the benefit of socially and economically disadvantaged individuals and groups?
  A)
  NABARD           done clear
  B)
   NSIC done clear
  C)
  RSBDC done clear
  D)
  SIDBI done clear
  View Solution play_arrow

• question_answer32)
  The District Industries Centres (DICs) were launched in which of the following years?
  A)
  1978     done clear
  B)
  1990 done clear
  C)
  1955     done clear
  D)
   1982 done clear
  View Solution play_arrow

• question_answer33)
  Match the following

  List I		List II
  A.	Business	1.	Provides earning
  B.	Profession	2.	Profit
  C.	Employment	3.	Fees
  D.	Economic activity	4.	Salary

  Codes
  A)
           A\[\to \]3, B\[\to \]1, C\[\to \]4, D\[\to \]2      done clear
  B)
  A\[\to \]2, B\[\to \]1, C\[\to \]3, D\[\to \]4 done clear
  C)
  A\[\to \]2, B\[\to \]3, C\[\to \]4, D\[\to \]1 done clear
  D)
  A\[\to \]1, B\[\to \]4, C\[\to \]3, D\[\to \]2 done clear
  View Solution play_arrow

• question_answer34)
  All of the activities included in the production and sale of goods are called
  A)
  Economic activity           done clear
  B)
  Business activity done clear
  C)
  Production activity          done clear
  D)
  All of the above done clear
  View Solution play_arrow

• question_answer35)
  Directly or indirectly, business involves transfer or exchange of goods and service of..........
  A)
  Value    done clear
  B)
   profit done clear
  C)
  Risk       done clear
  D)
  level done clear
  View Solution play_arrow

• question_answer36)
  Business involves an element of..........
  A)
  Risk       done clear
  B)
  return done clear
  C)
  Earning  done clear
  D)
  None of these done clear
  View Solution play_arrow

• question_answer37)

  Business include all occupation in which people are busy in earning income by

  I. production of goods and services.

  II. Purchase and sale of goods and services.

  III. Exchange of goods and services.

  Which of the statement(s) given above is/are correct?

  A)
  I and II only       done clear
  B)
  II and III done clear
  C)
  Only III             done clear
  D)
  All of these done clear
  View Solution play_arrow

• question_answer38)
  It is concerned with mobilising and utilising funds for running a business enterprise
  A)
  Financing           done clear
  B)
  production done clear
  C)
  Marketing           done clear
  D)
  All of these done clear
  View Solution play_arrow

• question_answer39)
  It involves the conversion of raw materials into finished products or generation of services
  A)
  Financing           done clear
  B)
  production done clear
  C)
  Marketing           done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer40)

  Consider the following statement(s).

  I. Primary objective of a business is to earn profit.

  II. There is always a possibility of loss in business.

  III. Love, sympathy and affections are the examples of economic activity.

  Which of the statement(s) given above is/are correct?

  A)
  I and III done clear
  B)
  I and II done clear
  C)
  II and III            done clear
  D)
  All of these done clear
  View Solution play_arrow

• question_answer41)

  Which of the following statements are correct?

  I. There are two types of business objectives; economic and social.

  II. Survival is social objective.

  III. Protection of environment is social objective.

  Select the correct answer using the codes given below

  A)
  I and III             done clear
  B)
  I and II done clear
  C)
  II and III            done clear
  D)
  All of these done clear
  View Solution play_arrow

• question_answer42)

  Which of the following statements are correct?

  I. No minimum qualification is required in business.

  II. In employment, no capital investment is required.

  III. In profession, there is very little risk.

  Select the correct answer using the codes given below

  A)
  I and III             done clear
  B)
  I and II done clear
  C)
  II and III            done clear
  D)
  All of these done clear
  View Solution play_arrow

• question_answer43)

  Which of the following statements are correct?

  I. Industries can be divided in three parts: primary, secondary and tertiary.

  II. Doctors, lawyers and accountants are examples of profession.

  III. The main purpose of advertising is to create and sustain demand.

  Select the correct answer using the codes given below.

  A)
  I and III done clear
  B)
  I and II done clear
  C)
  II and III            done clear
  D)
  All of the above done clear
  View Solution play_arrow

• question_answer44)

  Which of the following statements are correct?

  I. Commerce provides necessary links between consumer and producer.

  II. Trade involves buying and selling of goods.

  III. Advertising comes under secondary industries.

  Select the correct answer using the codes given below.

  A)
  I and III             done clear
  B)
  I and II done clear
  C)
  II and III            done clear
  D)
  All of these done clear
  View Solution play_arrow

• question_answer45)
  Least risk is found in
  A)
  Business done clear
  B)
  employment done clear
  C)
  Profession          done clear
  D)
  None of the above done clear
  View Solution play_arrow

• question_answer46)
  Ownership is transferable in
  A)
  Business            done clear
  B)
  profession done clear
  C)
  Employment      done clear
  D)
  None of these done clear
  View Solution play_arrow

• question_answer47)

  Direction: In the questions given below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements which one of the following is correct?

  Assertion (A)  Business is an integral part of society.

  Reason (R) Business can achieve its economic objective by satisfying the need of society.

  Codes
  A)
  Both (A) and (R) are true and (R) is the correct explanation of done clear
  B)
  (A) is true (R) is false done clear
  C)
  Both (A) and (R) are false done clear
  D)
  Both (A) and (R) are true, but (R) is not the correct explanation of done clear
  View Solution play_arrow

• question_answer48)

  Direction: In the questions given below are two statements labelled as Assertion (A)  and Reason (R). In the context of the two statements which one of the following is correct?

  Assertion (A)  Business enterprise should take all necessary steps to protect environment.

  Reason (R) Proper arrangement should be made for disposal of affluents, wastes etc.

  Codes
  A)
  Both (A) and (R) are true and (R) is the correct explanation of done clear
  B)
  (A) is true (R) is false done clear
  C)
  Both (A) and (R) are false done clear
  D)
  Both (A) and (R) are true, but (R) is not the correct explanation of done clear
  View Solution play_arrow

• question_answer49)

  Direction: In the questions given below are two statements labelled as Assertion (A)  and Reason (R). In the context of the two statements which one of the following is correct?

  Assertion (A)  Employees are the valuable asset of an organisation.

  Reason (R) Because of their contribution, business can expect its success in future.

  Codes
  A)
  Both (A) and (R) are true and (R) is the correct explanation of done clear
  B)
  (A) is true (R) is false done clear
  C)
  Both (A) and (R) are false done clear
  D)
  Both (A) and (R) are true, but (R) is not the correct explanation of done clear
  View Solution play_arrow

• question_answer50)

  Direction: In the questions given below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements which one of the following is correct?

  Assertion (A) Unemployment is the major problem of a society.

  Reason (R) The businessman must create employment opportunities so that society can earn their livelihood.

  Codes
  A)
  Both (A) and (R) are true and (R) is the correct explanation of done clear
  B)
  (A) is true (R) is false done clear
  C)
  Both (A) and (R) are false done clear
  D)
  Both (A) and (R) are true, but (R) is not the correct explanation of done clear
  View Solution play_arrow