Nature and Significance of Business-MCQ


CHAPTER 1: Nature & Significance of Business

  1. Which one of the following may not be a factor behind starting a business:-
    (a) Size of the firm
    (b) Routine workload
    (c) finance
    (d) Location of business

  2. Which of the following is not a function of management?
    (a) Management is all pervasive
    (b) Management is multi-dimensional
    (c) Identification of threats & warnings
    (d) Location of business

  3. Name two broad categories of business activities:-
    (a) Trade & commerce
    (b) Trade & Industry
    (c) Industry & commerce
    (d) None of these

  4. Which one of the following is not an economic objective of the business:-
    (a) Social environment
    (b) Survival
    (c) Profit
    (d) Growth

  5. Which factor doesn’t describe management as science:-
    (a) Systematized body of knowledge
    (b) Universal validity
    (c) Ethical code of conduct
    (d) Principles based on experimentation

  6. Earning of a profit is considered to be subsidiary objective of the business:-
    (a) True
    (b) False
    (c) None of these

  7. Human activities are of _____ types:-
    (a) One
    (b) Two
    (c) Three
    (d) Four

  8. Economic activities may be classified into business, ____ & employment.
    (a) Profession
    (b) Occupation
    (c) Vocation
    (d) Work

Answer Keys

1 b 2 c 3 c 4 a 5 c 6 b 7 b 8 a