Group 1 Quiz-->Astha, Khushi & Mantrana

Short case study

100

Ram owns a farming industry. Which type of industry does this come under?

Extractive Industry

200

A person sells his / her radio set at a profit . 

Will it be considered as a business activity ? Give a reason.

No. It is a one time activity.

300

A buys goods from B, who is a vendor of goods in exchange for money. Identify the three business features involved here-

 

1) Procurement of Goods 

2) Sales of Goods

3) Dealings in goods on a daily basis

400

The covid 19 pandemic lead to a complete change in the business world. Many companies suffered losses. Which characteristic of a business is this a feature of?

1) uncertainty of return 

2) element of risk

500

Zepto used to be a commonly used app- now there are others like Blinkit and Swiggy Instamart available too. Identify the factor of risk involved.

Increased competition in the market

MCQ

100

1.Which of the following is a non-economic activity?

a) Doctor operating in his clinic

b) A manager working

c) A house wife cooking food for her family

d) A teacher teaching at a school.

c) A house wife cooking food for her family

200

Which among the following is not a characterstic of a business activity ? 

 a) production or procurement of goods and services

b)donation of a percentage of profit for charity         c) sale or exchange of goods and services 

d) uncertainity of return              

b)donation of a percentage of profit for charity  

300

Among business, trade and commerce, which one is considered the broader term? 

a) business

 b) trade

 c) commerce 

d) all three mean the same

a) business

400

Converting wood to paper is an example of_____.

Justify your answer

a)analytical

b) synthetical

c) processing 

d)assembling

c) processing

500

Statement 1 - Business refers to an occupation in which people regularly engage in activities related to purchase, production and/ or sale of goods and services with a view of earning  profits .           Statement 2 - Economic activities are those by which we can earn our livelihood, whereas non - economic activites are performed out of loved and sympathy 

A ) both statements are true                                   B) both statements are false    

C) Statement 1 is true ,  2 is false               

D) statement 2 is true , 1 is false 

Answer A)both statements are true    

Fill in the blank

100

The term business is derived from the word______.

busy

200

Business activities are classified into______ and _____.

industry and commerce

300

Genetic industries are engaged in breeding plants and animals for their use in ________.

further reproduction

400

The main distinction between economic and non-economic activity is________.

motive with which they  are performed.

500

Business is any _______ engaged in the production and _____ of goods for sale in market or rendering services for a price.

enterprise

distribution

One word answer

100

What is the main purpose of business ?

Income by profit

200

What refers to the lack of knowlegde relating to the amount of money that the business is going to earn in a given period ?

Uncertainity of return

300

Which industry does Fish hatchery come under ?

Primary-genetic industry

400

 Looking for people who fit the company culture as they will be happier, stay longer is an example of ________.

Human resource management

500

Indian diamond merchants in Surat import raw uncut diamonds from South Africa. They cut and repolish it and then re-export it to the International Diamond Market in Amsterdam. This is an example of-

Entreport