Practice Test

Q1) A courier agent is _________. Show Answer

Q2) Raw material is converted into finished product by ________ industry. Show Answer

Q3) Actual buying and selling of goods is known as _______. Show Answer

Q4) The activity that removes difficulty of risk is _____. Show Answer

Q5) National level code of conduct is prepared for ________. Show Answer

Q6) Building of dams is an activity done under _______ industry. Show Answer

Q7) Difficulty of finance is solved by ________. Show Answer

Q8) A person using his knowledge & special skill to render services for earning his livelihood is called as ______. Show Answer

Q9) The main motive of an employee is to __________. Show Answer

Q10) _______ is the basis of buying and selling process. Show Answer

Q11) ________is an independent contract which cannot be transferred. Show Answer

Q12) Income earned from business is called as _______. Show Answer

Q13) ________ cover the risk faced by the traders. Show Answer

Q14) The time difficulty faced by the traders is solved by _______. Show Answer

Q15) Commerce is that aspect of business which is engaged in _______ of goods and service. Show Answer

Q16) Goods that are imported from one foreign country and exported to another foreign country is called as _______. Show Answer

Q17) The shortage of finance faced by the traders is solved by ________. Show Answer

Q18) Business is an _________ institution. Show Answer

Q19) Every business organization depends upon the ________ for its inputs and output. Show Answer

Q20) Wholesaler is in direct contact with ultimate consumers. Show Answer

Q21) Commerce is a wider term than business. Show Answer

Q22) Risk is inevitable in business activities. Show Answer

Q23) Tertiary industry depends upon primary and secondary industry. Show Answer

Q24) Internal trade handle import and export. Show Answer

Q25) Business can be expanded with the help of merchantile agents. Show Answer

Q26) Transport creates place utility. Show Answer

Q27) Industrial activities takes place after commerce finishes his role. Show Answer

Q28) Changing fashions is one of the important causes of business risk. Show Answer

Q29) Available resources should be used to its maximum. Show Answer

Q30) Business is a part of economic activity. Show Answer

Q31) Goods donated to charity can be termed as exchange. Show Answer

Q32) Ram selling his old car for profit can be termed as business. Show Answer

Q33) Employment is transferable Show Answer

Q34) Innovation is an important objective of business Show Answer

Q35) Commerce and industry is a part of business Show Answer

Q36) Warehousing creates place utility Show Answer

Q37) Advertising helps to overcome the difficulty of communication faced by the traders Show Answer

Q38) A Lawyer is _______. Show Answer

Q39) The problem of distance is solved by _______. Show Answer

Q40) Commerce is a branch of ______. Show Answer

Q41) Return in business is called _______. Show Answer

Q42) A business unit depends upon _______ for selling its output. Show Answer

Q43) Warehousing creates ______ utility of goods. Show Answer

Q44) A retailer does not come into direct contact with a ______. Show Answer

Q45) Return in employment is called ______. Show Answer

Q46) Fishing is _______ type of primary industry. Show Answer

Q47) Mercantile agents are the middlemen who help _______. Show Answer

Q48) Business includes _______ and ________. Show Answer

Q49) _______ means buying and selling within the country. Show Answer

Q50) Publicity creates _______. Show Answer

Q51) The problem of risk is overcome by ______. Show Answer

Q52) Re-export is similar to _______. Show Answer

Q53) When goods and services are purchased from another country it is called as _______ trade. Show Answer

Q54) Business is an economic activity. Show Answer

Q55) Every profession is practiced for earning money. Show Answer

Q56) Primary industries are concerned with nature. Show Answer

Q57) Trade includes commerce. Show Answer

Q58) Warehousing removes difficulty of time. Show Answer

Q59) Trade includes buying and selling of goods and services. Show Answer

Q60) Profit leads to increase in overall efficiency of the organisation. Show Answer

Q61) Plant nursery is an example of extractive industry. Show Answer

Q62) Industry creates form utility. Show Answer

Q63) Retailer is the link between manufacturer and wholesaler. Show Answer

Q64) Advertising is not useful for trade. Show Answer

Q65) Entrepot trade is a combination of home trade and foreign trade. Show Answer

Q66) Playing game is a non- economic activity. Show Answer

Q67) Wholesale trade is a trade done on small scale. Show Answer

Q68) Business is done with social objectives also. Show Answer

Q69) Human wants are limited. Show Answer

Q70) Business includes industry and commerce. Show Answer

Q71) Commerce is concerned with production of goods. Show Answer

Q72) Industry is concerned with the supply side of goods. Show Answer

Q73) Transport creates time utility. Show Answer

Q74) Business and Commerce have same meaning. Show Answer

Q75) Industry represents demand side while commerce represents supply side. Show Answer

Q76) Intermediaries are unavoidable in modern distribution system. Show Answer

Q77) The scope of commerce is wider than business. Show Answer

Q78) Industrial developments creates employment opportunities. Show Answer

Q79) The aim of business is to make profit only. Show Answer

Q80) The object of business is to earn profit. Show Answer

Q81) Trade means buying and selling of goods. Show Answer

Q82) The scope of commerce is limited. Show Answer

Q83) Profession and Business is one and the same thing. Show Answer

Q84) Warehousing creates time utility only. Show Answer

Q85) Coal mining is a manufacturing industry. Show Answer

Q86) Commerce is a branch of business. Show Answer

Q87) Business is a branch of economics. Show Answer

Q88) Commerce depends more on men than machinery. Show Answer