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Class 11 Business Studies Chapter 1 Business, Trade And Commerce Quiz 2 (25 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. What is the role of intermediaries in trade?

Correct Answer: D) To facilitate trade.

2. Which of the following does not characterize business activity?

Correct Answer: D) Salary and wages.

3. What is the significance of profit in business?

Correct Answer: C) It is a source of income.

4. Which of the following is a characteristic of business?

Correct Answer: B) Regular dealings in goods.

5. Oil refinery is an example of .....

Correct Answer: B) Secondary Industry.

6. Commerce = ..... + .....

Correct Answer: D) Trade + Auxiliaries to Trade.

7. Who was Jagat Seths?

Correct Answer: D) Financial institution.

8. Human activities are of ..... types

Correct Answer: B) Two.

9. ..... provides protection of machinery from possible damage by fire.

Correct Answer: B) Insurance.

10. Economic Activities =

Correct Answer: D) Business + Profession + Employment.

11. The First Five Year Plan was implemented in

Correct Answer: C) 1952.

12. Which is the economic objective of business out of the following?

Correct Answer: C) Survival.

13. Hindrance of risk is removed by:

Correct Answer: C) Insurance.

14. A teacher helping his/her daughter with school tasks and homework is an example of .....

Correct Answer: C) Non-Economic Activity.

15. Which of the following is a common source of business funding?

Correct Answer: A) All of the above.

16. What is the primary objective of business?

Correct Answer: A) To earn profit.

17. Which of the following is an example of a profession?

Correct Answer: B) Chartered accountancy.

18. It was the capital of the Pandayas who controlled the pearl fisheries of the Gulf of Mannar. It attracted foreign merchants, particularly Romans, for carrying out overseas trade.

Correct Answer: D) Madura.

19. Business can survive without profit for long.

Correct Answer: B) False.

20. Wholesale Trade is primarily conducted:

Correct Answer: B) Directly with retailers or large buyers.

21. Which of the following is not a type of external trade-

Correct Answer: D) Retail.

22. Business Risk has less chances of arising due to-

Correct Answer: A) Good management.

23. Transportation removes Hindrance of ..... in trading activities.

Correct Answer: A) Place.

24. Which of the following is an example of Trade?

Correct Answer: B) Selling clothes in shop.

25. The occupation in which people work for others and get remunerated in return is known as

Correct Answer: C) Employment.

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