Business Trade And Commerce(11th Grade > Business Studies ) Questions and answers for exam Preparation

11th Grade > Business Studies

BUSINESS TRADE AND COMMERCE MCQs

Total Questions : 30 | Page 2 of 3 pages

Mr.Ronald owns a shoe store. He has 50 employees working for him. He buys the leather from suppliers, gets them stitched and designed from outside, and sells them at his store. The customers were happy with the quality of shoes they purchased and visited the store frequently.

What are the characteristics that can be seen from the above passage?

1. An economic activity 2. Uncertainty of returns
1. Production or procurement of goods and services 2. An economic activity
1. An economic activity 2. Production or procurement of goods and services 3. Sale or exchange of goods and services for the satisfaction of human needs
1. An economic activity 2. Sale or exchange of goods and services for the satisfaction of human needs

Discuss Question

Answer: Option C. -> 1. An economic activity 2. Production or procurement of goods and services 3. Sale or exchange of goods and services for the satisfaction of human needs
:
C

From the above passage, the following business activities can be seen:
1. An economic activity

2. Production or procurement of goods and services

3. Sale or exchange of goods and services for the satisfaction of human needs

Question 12.

Trade is buying and selling of goods and services.

True
False
1. An economic activity 2. Production or procurement of goods and services 3. Sale or exchange of goods and services for the satisfaction of human needs
1. An economic activity 2. Sale or exchange of goods and services for the satisfaction of human needs

Discuss Question

Answer: Option A. -> True
:
A

True. Trade is the buying and selling of goods and services.

Question 13.

Risk are caused by ___, ___ or ___ causes

natural, human, capital
natural, human, economic
natural, human, political
natural, human, civil

Discuss Question

Answer: Option B. -> natural, human, economic
:
B

Risk are caused by natural, human or economic causes.

Question 14.

Raj Pal is a hardworking man, he is putting a lot of efforts in his new startup company. What kind of economic activity is he following?

Business
Profession
Employment
None of the above

Discuss Question

Answer: Option A. -> Business
:
A

Raj Pal is a businessman. The economic activity that he is following is business. Business refers to those economic activities, which are connected with the production or purchase and sales of goods or supply of services with the objective of making profits.

Question 15.

Risk is not an essential part of a business.

True
False
1. An economic activity 2. Production or procurement of goods and services 3. Sale or exchange of goods and services for the satisfaction of human needs
1. An economic activity 2. Sale or exchange of goods and services for the satisfaction of human needs

Discuss Question

Answer: Option B. -> False
:
B

False. Risk is an essential part of a business. Business risks arise because of uncertainties.

Question 16.

Rita has special knowledge and skill that she applies in her occupation. Is she an employee of a big firm?

True
False
Employment
None of the above

Discuss Question

Answer: Option B. -> False
:
B

False. Rita is engaged in a profession, which requires an application of special knowledge and skill.

Question 17.

The occupation where people work for others and receive a remuneration in return is known as _______________.

Business
Employment
Profession
None of the above

Discuss Question

Answer: Option B. -> Employment
:
B

The occupation where people work for others and receive a remuneration in return is known as employment.

Question 18.

Sita's mother takes care of the household errands. What kind of activity is she performing?

Economic activity
Non- economic activity
Both of the above
None of the above

Discuss Question

Answer: Option B. -> Non- economic activity
:
B

Sita's mother takes care of the household errands. She is performing a non-economic activity.

Question 19.

Market standing refers to the position of an enterprise in relation to its competitors.

True
False
Both of the above
None of the above

Discuss Question

Answer: Option A. -> True
:
A

True. Market standing refers to the position of an enterprise in relation to its competitors. A business enterprise must have a strong standing in terms of offering competitive products to the customers and also serve them to their satisfaction.

Question 20.

The degree of risk does not depend mainly on the nature and size of the business.