Free Nature and Purpose of Business 02 Practice Test - 11th Grade - Commerce
Question 1
Which are the two kinds of innovation?
1. Product innovation
2. Technology innovation
1. Performance innovation
2. Supply innovation.
1. Product innovation
2. Supply innovation.
None of the above
SOLUTION
Solution : C
The two kinds of innovation are 1. Product innovation 2. Supply innovation.
Question 2
Which of the following is not a part of auxiliaries to trade.
Transportation
Communication
Profit
Banking
SOLUTION
Solution : C
Profits are not a part of auxiliaries to trade.
Question 3
State True or False. Advertising helps in providing information about the goods and services.
True
False
SOLUTION
Solution : A
True. Advertising helps in providing information about the goods and services and help in persuading customers to purchase them.
Question 4
The activities that are connected with the extraction and production of natural resources and reproduction and development of living organisms is called
primary industry
secondary industry
tertiary industry
all of the above
SOLUTION
Solution : A
The activities that are connected with the extraction and production of natural resources and reproduction and development of living organisms is called primary industry.
Question 5
Which industry is engaged in producing goods for intermediate or final consumption through processing of raw materials?
Manufacturing Industries
Genetic Industries
Secondary Industries
All of the above
SOLUTION
Solution : A
Manufacturing industries are engaged in producing goods through processing of raw material.
Question 6
Primary
Secondary
Tertiary
All of the above
SOLUTION
Solution : B
Secondary industry includes all those activities which are connected with using the materials which have already been extracted from an earlier stage.
Question 7
Mr. Singh has a denim store at the market. There was a theft at his store and he lost 3lakh rupees. What kind of risk did he face?
Speculative risk
Pure risk
Natural risk
None of the above
SOLUTION
Solution : B
Mr. Singh faced pure risk, which involves the possibility of loss or no loss.
Question 8
An industry that assembles different component parts to make a new product, as in the case of television, computer etc.
Analytical industry
Synthetical industry
Processing industry
Assembling industry
SOLUTION
Solution : D
An industry that assembles different component parts to make a new product, as, in the case of television, car, computer is known as assembling industry.
Question 9
An industry that draws out product from natural resources is known as ________________.
Genetic industry
Extractive industry
Analytical industry
Assembling industry
SOLUTION
Solution : B
An industry that draws out product from natural resources is known as the extractive industry. It supplies some basic raw material that are mostly products of the geographical location or natural environment.
Question 10
State True or False. Employment requires capital investment.
True
False
SOLUTION
Solution : B
False. Employment refers to an occupation, where people work for others and get remunerated in return. Employment does not require capital investment.