NCERT MCQ ON Business, Trade and Commerce:
Q.1 The term business is derived from the word ______
(a) Buy and selling
(b) Financial markets
(c) Proprietorship
(d) BusyShow
Answer
(d) Busy
Q.2 Which of the following is an economic activity?
(a) Social Activities
(b) Patriotic Activities
(c) Profession
(d) Religious ActivitiesShow
Answer
(c) Profession
Q.3 Which of the following is not a characteristic of business activity?
(a) Wages
(b) Sale of product
(c) The factor of risk
(d) Manufacturing goods and servicesShow
Answer
(a) Wages
Q.4 _______ is an economic activity
(a) Non-employment
(b) Employment
(c) Non profit organisation
(d) None of the aboveShow
Answer
(b) Employment
Q.5 Bad debts due to non-payment of debts by debtors is an example of which type of business risk?
(a) Human
(b) Natural
(c) Physical
(d) EconomicShow
Answer
(a) Human
Q.6 Which has the large scope :
(a) Trade
(b) Commerce
(c) Industry
(d) BusinessShow
Answer
(b) Commerce
Q.7 Which of the following cannot be classified as an auxiliary to trade :
(a) Mining
(b) Insurance
(c) Warehousing
(d) TransportShow
Answer
(a) Mining
Q.8 Which of the broad categories of industries covers oil refinery and sugar mills :
(a) Primary
(b) Secondary
(c) Tertiary
(d) None of these
Answer
(b) Secondary
Q.9 The occupation in which people work for others and get remunerated in return is known as :
(a) Business
(b) Employment
(c) Profession
(d) None of themShow
Answer
(b) Employment
Q.10 Free Guidance by a teacher to his son is :
(a) An economic activity
(b) Profession
(c) Employment
(d) A non-economic activity
Answer
(d) A non-economic activity
Q.11 Capital is not an essential element in :
(a) Employment
(b) Profession
(c) Business
(d) None of theseShow
Answer
(a) Employment
Q.12 Economic activity = ……….. + ………. :
(a) Business + Profession
(b) Profession + Employment
(c) Business + Employment
(d) Business + Profession + Employment
Answer
(d) Business + Profession + Employment
Q.13 Business is :
(a) Art
(b) Science
(c) Both (a) and (b)
(d) None of theseShow
Answer
(c) Both (a) and (b)
Q.14 Which one of the following may not be a factor behind starting a business?
(a) Routine workload
(b) size of the firm
(c) finance
(d) location of the business
Answer
(a) Routine workload
Q.15 Which of the following cannot be classified as an objective of business?
(a) Investment
(b) Productivity
(c) Innovation
(d) Profit earningShow
Answer
(a) Investment
Q.16 Which of the following cannot be classified as an auxiliary to trade?
(a) Mining
(b) Insurance
(c) Warehousing
(d) Transport
Answer
(a) Mining
Q.17 Which of the broad categories of industries covers oil refinery and sugar mills?
(a) Primary
(b) Secondary
(c) Tertiary
(d) None of theseShow
Answer
(b) Secondary
Q.18 Which of the following is not an example of non-economic activity?
(a) Patriotism
(b) teaching
(c) sentiment
(d) sympathy
Answer
(b) teaching
Q.19 Transfer of interest exists in the case of
(a) Profession
(b) employment
(c) business
(d) none of these
Answer
(c) business
Q.20 ‘Earning of profit is considered to be the subsidiary objective of the business.’ The given statement is
(a) True
(b) false
(c) cannot say
(d) None
Answer
(b) false
Q.21 Name the two broad categories of business activities.
(a) Trade and commerce
(b) trade and industry
(c) industry and commerce
(d) none of theseShow
Answer
(c) industry and commerce
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