INTRODUCTION TO BUSINESS

Which of the following is not an economic activity?

• Production

• Social service

• Professional

• Trading in good

Which option is not a business activity?

• Production of goods

• Transportation

• Exchange of goods

• Work in a factory for wages

Which of the following is the characteristic of a business?

• Production

• Exchange or sale

• Risk element

• All the above

Oil refinery and sugar mill are classified under which industries?

• Primary

• Secondary

• Tertiary

• None of the above

Identify the activity which does not support trade?

• Banking

• Warehousing

• Insurance

• Mining

In which occupation people get salary or wages in return for their word?

• Employment

• Business

• Profession

• None of the above

Which item does not cause any business risk?

• Breakdown of machinery

• Efficient management

• Riot

• Changing government policy

In which business, the support service activities are categorized?

• Commercial industries

• Primary industries

• Secondary industries

• Tertiary industries

In business, why it is essential to make a profit?

• It provides a return to investors.

• It provides funds for future extension

• It increases the reputation of a company

• All the above

Which of the following is a false statement?

• The scope of commerce is narrower than business.

• Commerce includes trade and auxiliaries to trade.

• Foreign trade is purchase and sale by the traders of the same country.

• Traders serve as a link between producers and consumers.