Structure & Process of Business Mcqs - Study For Buddies

Saturday, October 1, 2022

Structure & Process of Business Mcqs



1. One of the social objective of business is

(a) Avoidance of customers
(b) Development of skilled personnel’s
(c) Fair dealing with employees
(d) Supply of desired quality of goods

2. For the success of business all the marketing plans and policies must be

(a) Objective oriented
(b) Nation oriented
(c) Customer oriented
(d) Vision oriented

3. Business is a human activity directed towards

(a) Acquisition of social stability
(b) Acquisition of wealth
(c) Acquisition of profit
(d) Acquisition of market

4. As a result of industrial revolution there was a transformation from

(a) Simple to capitalist economy
(b) Natural to commercial economy
(c) Natural to capitalist economy
(d) Socialist to capitalist economy

5. Which of the following is part of Human Occupation ?

(a) Professions
(b) Business
(c) Employment
(d) All of the above

6. Assembly line activities are also kind of ______.

(a) Construction industries
(b) Commerce
(c) Manufacturing industries
(d) Trade

7. Interest cannot be transferred in case of _________.

(a) Professions
(b) Business
(c) Employment
(d) None of these

8. Individual Risk is a part of Activities in case of _________.

(a) Professions
(b) Business
(c) Employment
(d) a and b both

9. Foreign trade includes ______.

(a) Import trade
(b) Export trade
(c) Entrepot trade
(d) All of the above

10. A refrigerator operating in a chemist’s shop is an example of

(a) Free good
(b) Final good
(c) Intermediate good
(d) Consumers good

11. What is an economic activity ?

(a) Activity undertaken in expectation of economic return
(b) Activity undertaken for providing service
(c) Activity undertaken for services and economic return
(d) Activity undertaken as a result of love and affection.

12. What is a non-economic activity ?

(a) Activity done in expectation of earning
(b) Activity done in expectation of economic return
(c) Activity done for social services
(d) Activity done in expectation of return and services

13. How many types of economic activities are there ?

(a) One
(b) Two
(c) Three
(d) Four

14. Business is done with ______

(a) Profit objective
(b) Service motive
(c) Fee objective
(d) Remuneration motive

15. Profession is done with ______

(a) Profit objective
(b) Service motive
(c) Fee objective
(d) Remuneration motive

16. From the following, which characteristic is not of the business ?

(a) Profit objective
(b) Risk
(c) Definite return
(d) Economic activity

17. In which field, India has got the place from the following ?

(a) Transportation
(b) Insurance
(c) Medicine
(d) Information

18. From the following, which activity is not economic activity ?

(a) Business Activity
(b) Lawyer e
(c) Social Worker
(d) Doctor

19. From the following which activity is out side the scope of Human Occupation ?

(a) The Sachin Tendulkar, playing international cricket.
(b) Anna’s hunger strike
(c) Mukesh Ambani coming to IPCL
(d) Dr. Anand going to his hospital

20. By which name the production activity known ?

(a) Industry
(b) Business
(c) Trade
(d) Employment

21. Which is trade facilitating services ?

(a) Trade
(b) Commerce
(c) Industry
(d) Profession

22. What is meant by the exchange of product in lieu of finance ?

(a) Trade
(b) Commerce
(c) Industry
(d) Profession

23. How many types of trade are there ?

(a) One
(b) Two
(c) Three
(d) Four 

24. What is main characteristics of trade ?

(a) Buyer
(b) Seller
(c) Purchase seller
(d) Agent

25. Purchase and sale for the purpose of profit means ______.

(a) Trade
(b) Commerce
(c) Industry
(d) Profession

26. Industry dong the process on the material obtained from the nature means ______.

(a) Modern industry
(b) Primary industry
(c) Labour oriented
(d) Secondary industry

27. Which of the following is or are the economic objective of business ?

(a) Profit
(b) Creation of customer
(c) Innovation
(d) All of these

28. Where did the industrial revolution start ?

(a) England
(b) USA
(c) Germany
(d) India

29. Which is dependent economic activity ?

(a) Business
(b) Profession
(c) Employment
(d) Service

30. Industrial revolution refers to a series of remarkable change in ______ industries during 1760 to 1830.

(a) British Industries
(b) American Industries
(c) African Industries
(d) Asian Industries 

31. Before industrial revolution, there was an existence of ______ economy.

(a) Capitalist
(b) National
(c) Socialist
(d) Political

32. A business enterprise is an ______ entity.

(a) Commercial
(b) Social
(c) Natural
(d) Organic

33. Genetic industries are relocated with ______ organisms.

(a) Living
(b) Static
(c) Mechanical
(d) Chemical

34. ______ are those occupations which involve the rendering of personal services of a special and expert nature.

(a) Business
(b) Employment
(c) Professions
(d) Adventure

35. The marketing plans and policies of today are ______ centered and not ______ centered.

(a) Customer, Product
(b) Product, Customer
(c) Profit, Product
(d) Profit, Customer 

36. Which of the following is / are true about industrial revolution. 

(i) Money become supreme
(ii) Personal skill was given more importance
(iii) Concentration of factors of production in few hands
(iv) Slums area

(a) All above
(b) Only (i) & (iv)
(c) Only (i) & (ii)
(d) Only (i), (iii) & (iv)

37. Industry mean that part of business activity which is concerned with

(i) Raising
(ii) Production
(iii) Processing
(iv) Fabrication of products 

(a) All above
(b) Only (i), (ii) & (iii) a
(c) None of the above
(d) Only (ii), (iii) & (iv)

38. It is the duty of every business to satisfy the national needs by

(i) Production according to national priorities
(ii) Development of small entrepreneurs
(iii) Fair deal to employees
(iv) Creation of customers

(a) Only (i) & (ii)
(b) Only (i)
(c) All above
(d) Only (i), (iii) & (iv)

39. Which of the followings is /are not the essentials of business

(i) Location, layout and size
(ii) Planning
(iii) Family planning
(iv) Independent department

(a) only (i)
(b) only (i), (ii) & (iii)
(c) only (iii) & (iv)
(d) only (iii)

40. ________ Involves transfer, sale or exchange of goods and services to satisfy the needs of customers.

(a) Business
(b) Employment
(c) Professions
(d) Adventure

41. It is ______ obligation of business not to indulge in malpractices such as hoarding and black marketing.

(a) Organic
(b) Social
(c) National
(d) Economic

42. The ______ objective of business arises from the expectations of the human beings performing business operations.

(a) Human
(b) National
(c) Social
(d) Organic

43. The ______ was a phenomenon which radically altered the whole system of procedure.

(a) Market Revolution
(b) Product Revolution
(c) Country Revolution
(d) Industrial Revolution

44. The business cycles are also known as

(a) Trade Cycle
(b) Depression Cycles
(c) Prosperity cycles
(d) Waste Cycles

45. The intangible and invisible goods supplied by business concerns which can not be stored by the consumer is known as :

(a) Producers goods
(b) Consumer goods
(c) Services
(d) None of the above

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