CBSE Class 11 Business Studies Nature and Purpose Of Business MCQs

Refer to CBSE Class 11 Business Studies Nature and Purpose Of Business MCQs provided below available for download in Pdf. The MCQ Questions for Class 11 Business Studies with answers are aligned as per the latest syllabus and exam pattern suggested by CBSE, NCERT and KVS. Multiple Choice Questions for Chapter 1 Business Trade and Commerce are an important part of exams for Class 11 Business Studies and if practiced properly can help you to improve your understanding and get higher marks. Refer to more Chapter-wise MCQs for CBSE Class 11 Business Studies and also download more latest study material for all subjects

MCQ for Class 11 Business Studies Chapter 1 Business Trade and Commerce

Class 11 Business Studies students should refer to the following multiple-choice questions with answers for Chapter 1 Business Trade and Commerce in Class 11.

Chapter 1 Business Trade and Commerce MCQ Questions Class 11 Business Studies with Answers

Question: Name the auxiliary to trade which removes the hindrance of time

a) Warehousing

b) Trade

c) Transportation.

d) Banking

Answer: Warehousing

 

Question: Soaps are included under which type of industry

a) Synthetical Industry.

b) Analytical Industry.

c) Processing Industry.

d) Assembling Industry.

Answer: Synthetical Industry.

 

Question: The economic activity in which specialized knowledge is required is

a) Profession

b) Business

c) Employment

d) None of the options

Answer: Profession

 

Question: Everest Textile Ltd is involved in manufacturing textile products. In which industry is the company involved?

a) Processing industry.

b) Analytical industry

c) Synthetic industry

d) Extractive industry

Answer: Processing industry.

 

Question: The industries which provides support services to other industries are known as

a) Tertiary

b) Secondary

c) Manufacturing

d) Primary

Answer: Tertiary

 

Question: A business firm in India buy toys from China to sell it to Nepal. Identify the type of trading activity mentioned above?

a) Entreport

b) Export

c) Import

d) Retail trade

Answer: Entreport

 

Question: Code of conduct DOES NOT include

a) Dishonesty

b) Rules

c) Morality

d) Integrity

Answer: Dishonesty

 

Question: Which of the following creates form utility?

a) Industry

b) Trade

c) Commerce

d) Business

Answer: Industry

 

Question: Risk is the result of

a) Uncertainties

b) None of the options

c) Both of the above

d) Certainties

Answer: Uncertainties

 

Question: Commerce includes

a) Trade and aids to trade

b) Business and industry

c) Business and Trade

d) None of the options

Answer: Trade and aids to trade

 

More Questions...................

 

Question: Which one of the following is an economic activity in which specialized knowledge is required?

a) Profession

b) Business

c) Employment

d) None of the options

Answer: Profession

 

Question: Which one of the following is NOT an Auxiliary to trade?

a) Mining

b) Warehousing

c) Insurance

d) Transport

Answer: Mining

 

Question: Name the activity of commerce that removes the hindrance of time.

a) Warehousing

b) Advertising

c) Transportation

d) Banking

Answer: Warehousing

 

Question: The latest generation of mobile phones has many features like faster internet browsing, Bluetooth etc. This is an example which objective of business?

a) Innovation

b) Earning profits

c) Market standing

d) Productivity

Answer: Innovation

 

Question: Business =

a) Industry + Commerce

b) Industry + Trade

c) Trade + Aids to Trade

d) Trade + Commerce

Answer: Industry + Commerce

 

Question: Which one of the following is NOT the objective of the business?

a) Investment

b) Innovation.

c) Creation of customers.

d) Profit making

Answer: Investment

 

Question: What reward an entrepreneur gets for risk bearing in business?

a) Profit

b) Fees

c) Salary

d) Interest

Answer: Profit

 

Question: Why a business should earn profit?

a) All the above.

b) To increase the reputation of business.

c) To provide funds for future growth.

d) To provide return to investors.

Answer: All the above.

 

Question: Bad debts due to non-payment of debts by debtors is an example of which type of business risk?

a) Human

b) Natural

c) Physical

d) Economic

Answer: Human

 

Question: Which one of the following is NOT a characteristic of business?

a) Managing Business

b) Customer satisfaction

c) Profit Earning

d) Risk bearing.

Answer: Managing Business

 

Question: Which one of the following economic activity is directed towards producing or acquiring wealth through buying and selling of goods?

a) Business.

b) Profession

c) Employment

d) Management

Answer: Business.

 

Question: Match the following type industries in Column 1 and Column 2

 Column 1 Column 2
IGenetic industryAPackaging
IIProcessingBCement
IIISyntheticalCSugar mills
IVTertiaryDAnimal Husbandry








 

a) I-D; II-C; III-B ; IV-A

b) I- A; II-B; C-III; D-IV

c) I-B; II-C; III-D; IV-A

d) I-C; II-D;III-A; IV-B

Answer: I-D; II-C; III-B ; IV-A

 

Question: Economic activities may be classified into business, ___________ and employment

a) Profession

b) Vocation

c) Occupation

d) Work

Answer: Profession

 

Question: Which of the following is not an example of non-economic activity

a) Teaching

b) Sentiment

c) Patriotism

d) Sympathy

Answer: Teaching

 

Question: Human activities are of ____________ types

a) Two

b) One

c) Three

d) Four

Answer: Two

 

Question: Transfer of interest exists in the case of

a) Business

b) None of these

c) Employment

d) Profession

Answer: Business

 

Question: Following are the characteristics of business risks. One of then is not correct. Please identify it.

a) Loss is the reward for risk bearing

b) Business risks are due to uncertainties

c) Risk is an essential component of every business

d) Degree of risk depends mainly upon the nature and size of business

Answer: Loss is the reward for risk bearing

 

Question: Earning of profit is considered to be the subsidiary objective of the business.The given statement is

a) FALSE

b) TRUE

c) Cannot say

d) None of these

Answer: FALSE

 

Question: Commerce includes activities relating to trade and _________________ to trade.

a) Auxiliaries

b) Subsidiaries

c) Supporting

d) None of these

Answer: Auxiliaries

  

Question: Name the two broad categories of business activities.

a) Industry and commerce

b) Trade and industry

c) Trade and commerce

d) None of these

Answer: Industry and commerce

 

Question: Which one of the following may not be a factor behind starting a business

a) Routine workload

b) Size of the firm

c) Finance

d) Location of the business

Answer: Routine workload

 

Question: The possibilities of inadequate profits or even losses due to uncertainties are known as

a) Business risks

b) Business contingencies

c) Business ventures

d) None of these

Answer: Business risks

 

MCQs for Chapter 1 Business Trade and Commerce Business Studies Class 11

Expert teachers of studiestoday have referred to NCERT book for Class 11 Business Studies to develop the Business Studies Class 11 MCQs. If you download MCQs with answers for the above chapter you will get higher and better marks in Class 11 test and exams in the current year as you will be able to have stronger understanding of all concepts. Daily Multiple Choice Questions practice of Business Studies will help students to have stronger understanding of all concepts and also make them expert on all critical topics. After solving the questions given in the MCQs which have been developed as per latest books also refer to the NCERT solutions for Class 11 Business Studies. We have also provided lot of MCQ questions for Class 11 Business Studies so that you can solve questions relating to all topics given in each chapter. After solving these you should also refer to Class 11 Business Studies MCQ Test for the same chapter.

Where can I download latest CBSE MCQs for Class 11 Business Studies Chapter 1 Business Trade and Commerce

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