Nature and Purpose of Business
Commerce ⇒ Business Studies
Nature and Purpose of Business starts at 11 and continues till grade 12.
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See sample questions for grade 11
Define business in your own words.
Describe any two social objectives of business.
Distinguish between industry and commerce.
Explain the concept of 'uncertainty of return' in business.
Explain the difference between business, profession, and employment.
Explain the importance of business in modern society.
Explain the role of profit in business.
Explain the term 'business risk'.
Which of the following is a manufacturing industry? (1) Mining (2) Fishing (3) Textile (4) Transport
Which of the following is a primary industry? (1) Textile industry (2) Mining (3) Banking (4) Transport
Which of the following is an economic activity? (1) Teaching in a school (2) Cooking food at home (3) Playing cricket for fun (4) Gardening for pleasure
Which of the following is an example of a secondary industry? (1) Agriculture (2) Construction (3) Banking (4) Mining
Business risk arises due to _______ factors such as changes in consumer preferences, competition, and government policies.
Fill in the blank: The activities concerned with the removal of hindrances in the process of exchange of goods are known as _______.
Fill in the blank: The business activity which involves buying and selling of goods between two or more countries is called _______ trade.
Fill in the blank: The business activity which involves buying and selling of goods within the boundaries of a country is called _______ trade.
Is it correct to say that business is a social institution?
Is it correct to say that commerce includes both trade and auxiliaries to trade?
Is it true that all business activities involve risk?
Is it true that business activities are always legal?
