This quiz works best with JavaScript enabled. Home > Cbse > Class 11 > Commerce > Business Studies > Class 11 Business Studies Chapter 1 Business, Trade And Commerce – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 1 Business, Trade And Commerce Quiz 3 (27 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. "No minimum qualification is necessary." The given statement characterizes A) Business. B) Profession. C) Employment. D) None of these. Show Answer Correct Answer: A) Business. 2. "Amrut" is an NGO operating in the district of Rajkot since 2005. It deals in providing medicines and other medical facilities to the rural, backward, and below-poverty-line people in the district. In case of need, arrangements are made by the NGO to shift critical patients to referred hospitals. Name the type of human activities performed by the NGO "Amrut" . A) Spiritual Activities. B) Non-Economic Activities. C) Economic Activities. D) None of the above. Show Answer Correct Answer: B) Non-Economic Activities. 3. ..... was major centre for export of stones. A) Surat. B) Taxila. C) Pataliputra. D) Peshawar. Show Answer Correct Answer: C) Pataliputra. 4. What is the first step in starting a business? A) Selecting the type of business. B) Financing the business. C) Choosing a location. D) Hiring employees. Show Answer Correct Answer: A) Selecting the type of business. 5. Shop, factory is a example of A) Non of this. B) Employment. C) Business. D) Profession. Show Answer Correct Answer: C) Business. 6. I own a nursery company. Which industry does my company belong to? A) Assembling Industry. B) Genetic Industry. C) Extractive Industry. D) Construction Industry. Show Answer Correct Answer: B) Genetic Industry. 7. Services of a family member doing gardening work at home. A) Economic Activity. B) Non-Economic Activity. C) All the above. D) None of the above. Show Answer Correct Answer: B) Non-Economic Activity. 8. Which of the following is/are treated as Auxiliaries to Trade? A) All of the above. B) Transportation Industry. C) Insurance Industry. D) Banking Industry. Show Answer Correct Answer: A) All of the above. 9. Which of the following is not a Characteristics of Business? A) An economic activity. B) Sale or exchange of goods andservices. C) Certainty of return. D) Profit earning. Show Answer Correct Answer: C) Certainty of return. 10. What type of cause is fluctuation of price in the market? A) Human. B) Economic. C) Physical. D) Natural. Show Answer Correct Answer: B) Economic. 11. In ancient times, textiles were the principal export from ..... to ..... A) Pulicat to Southeast Asia. B) Calicut to China. C) Chennai to East Asia. D) Asia to Pulicat. Show Answer Correct Answer: A) Pulicat to Southeast Asia. 12. What is the impact of profit on a business? A) It is irrelevant. B) It indicates efficient working. C) It reduces competition. D) It increases risks. Show Answer Correct Answer: B) It indicates efficient working. 13. Which of the following is a characteristic of business risk? A) It guarantees profit. B) It is an essential part of business. C) It is always predictable. D) It can be completely eliminated. Show Answer Correct Answer: B) It is an essential part of business. 14. Primary Industries include- A) Extractive industries. B) Synthetical Industries. C) Manufacturing industries. D) Assembling industries. Show Answer Correct Answer: A) Extractive industries. 15. Hindrance of place is removed by: A) Transportation. B) Advertisement. C) Communication. D) Warehousing. Show Answer Correct Answer: A) Transportation. 16. Name the reward which a person gets in regular employment? A) Salary. B) Fees. C) Profit. D) Wages. Show Answer Correct Answer: A) Salary. 17. Which of the following cannot be classified as an objective of business? A) (iv) Profit earning. B) (ii) Productivity. C) (i) Investment. D) (iii) Innovation. Show Answer Correct Answer: C) (i) Investment. 18. Which of the following best describes commerce? A) Human resource management. B) Exchange of goods and services. C) Production of goods. D) Financial management. Show Answer Correct Answer: B) Exchange of goods and services. 19. Which of the following is not a Cause of Business Risks? A) Economic causes. B) Natural causes. C) Artistic causes. D) Human causes. Show Answer Correct Answer: C) Artistic causes. 20. Which of the following is a secondary industry? A) Mining. B) Textile manufacturing. C) Farming. D) Fishing. Show Answer Correct Answer: B) Textile manufacturing. 21. What does the term 'barter system' refer to? A) Exchange of goods for other goods. B) Exchange of goods for money. C) Exchange of services for money. D) Exchange of services for goods. Show Answer Correct Answer: A) Exchange of goods for other goods. 22. The institution of ..... also played an important role during Mughal period and days of east India company, as intermediaries. A) Nagar Seths. B) Commercial and Industrial Banks. C) Commission Agents. D) Jagat Seths. Show Answer Correct Answer: D) Jagat Seths. 23. I am a Chartered Accountant who works 12 hours a day and earn a huge amount of salary. Which economic activity am I involved in? A) Employment. B) Profession. C) Business. D) None of these. Show Answer Correct Answer: A) Employment. 24. In which type of Industries oil refinery falls? A) Genetic. B) Construction. C) Extractive. D) Manufacturing. Show Answer Correct Answer: D) Manufacturing. 25. What does the term 'industry' refer to? A) The production of goods. B) The sale of goods. C) The provision of financial services. D) The exchange of services. Show Answer Correct Answer: A) The production of goods. 26. The maritime route linked from east to west by sea and was used for the trade of spices. this route was known as A) Sea route. B) Spice route. C) Silk route. D) None of these. Show Answer Correct Answer: B) Spice route. 27. Which is not the objective of business? A) Economic. B) Individual. C) Legal. D) Social. Show Answer Correct Answer: C) Legal. ← PreviousRelated QuizzesCommerce QuizzesClass 11 QuizzesClass 11 Business Studies Chapter 1 Business, Trade And Commerce Quiz 1Class 11 Business Studies Chapter 1 Business, Trade And Commerce Quiz 2Class 11 Business Studies Chapter 10 International Business QuizClass 11 Business Studies Chapter 2 Forms Of Business Organisation QuizClass 11 Business Studies Chapter 3 Private, Public And Global Enterprises QuizClass 11 Business Studies Chapter 4 Business Services QuizClass 11 Business Studies Chapter 5 Emerging Modes Of Business QuizClass 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books