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 | ||
I | Genetic industry | A | Packaging |
II | Processing | B | Cement |
III | Synthetical | C | Sugar mills |
IV | Tertiary | D | Animal 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
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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.
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